michigan’s 21 st century jobs fund. michigan’s 21 st century jobs fund program overview ...

Michigan’s Michigan’s 2121stst Century Jobs Fund Century Jobs Fund

Michigan’s 21Michigan’s 21stst Century Jobs Fund Century Jobs Fund

Program overview Commercialization Development Fund

mission Eligible organizations and activities Funding competition Timeline Questions and answers

Michigan’s 21Michigan’s 21stst Century Jobs Fund Century Jobs Fund

A $2.0 billion, long-term focus on growing and diversifying our economy with emphasis on developing competitive edge technologies

2121stst Century Jobs Fund Century Jobs Fund“Jump start the economy now and diversify and grow “Jump start the economy now and diversify and grow

our economy for the future”our economy for the future”

Increase Capital Investment

Increase Commercial Lending Activity

Encourage the Development and Commercialization of Competitive Edge Technologies

2121stst Century Commercialization Century Commercialization Development Fund—2006Development Fund—2006

Up to $100 Million for 2006 Overseen by 19-member independent

Strategic Economic Investment and Commercialization Board

Broadened Technology Eligibility Potential for Two 6-Month Funding

Cycles Per Year Put Capital to Work by July, 2006

Commercialization Development Commercialization Development Fund Mission Fund Mission

Capitalize on the best research and commercialization opportunities in competitive edge technologies to foster a robust, entrepreneurial private sector, thereby enhancing economic growth and diversifying our economy.

Mission

Eligible Programmatic ActivitiesEligible Programmatic Activities

Commercialization (products, processes, services)

Fund Basic Research (max. 10%)

Invest in Applied Research

Coming Summer 2006… Attract Federal research dollars Leverage SBIR/STTR funding

Life SciencesLife Sciences

– Bioengineering– Biomedical engineering– Genomics– Proteomics– Molecular and chemical

ecology

–Biotechnology–Pharmaceuticals–Medical Devices–Instrumentation–Diagnostics–Biotechnology Research and Ancillary Services

Means science for the examination or understanding of life or life processes, including but not limited to, all of the following:

Homeland Security/DefenseHomeland Security/Defense

Sensors, systems, processes, or equipment for communications, identification and authentication, screening, surveillance, tracking, and data analysis

Advanced computing or electronic device technology related to homeland security and defense technology

Aviation technology, including but not limited to, avionics, airframe design, sensors, early warning systems, and services related to homeland security and defense technology

Advanced Automotive, Advanced Automotive, Manufacturing, and MaterialsManufacturing, and Materials

Materials with engineered properties Nanotechnology, including materials devices or systems

at atomic, molecular or macromolecular levels Improvements to vehicle safety, performance,

production, or environmental impact New technology, device, or system that enhances or

improves the manufacturing of wood, timber or agricultural-based products

Any technology that involves an alternative energy vehicle or its components as defined under the NextEnergy Authority Act

Alternative EnergyAlternative Energy

Alternative Energy Technology as defined under the NextEnergy Authority Act

Devices or systems designed and used solely for the purpose of generating energy from agricultural crops, residue and waste

A new technology, product, or system that permits the utilization of biomass

New technology, product, or service that utilizes wind energy

Additional Eligible ProjectsAdditional Eligible Projects

Advanced computing or electronic device technology related to any one of the four competitive edge technologies

Design, engineering, testing, or diagnostics related to one of the four competitive edge technologies

Product research and development related to one of the four competitive edge technologies

Michigan 21Michigan 21stst Century Commercialization Century Commercialization Development Fund CompetitionDevelopment Fund Competition

Life Sciences Homeland Security Advanced Automotive,

Manufacturing, and Materials



Alternative Energy



Alternative Energy

Commercialization Applied Research Basic Research

2121stst Century Commercialization Century Commercialization Development FundDevelopment Fund

CommercializationThe transition from research to actions necessary to achieve market entry of new innovative technologies.

Commercialization proposals will be accepted to commercialize breakthrough technologies, and in a separate RFP process for specialized services to nurture and accelerate the competitive edge technology sectors in Michigan.


Commercialization ProposalsCommercialization Proposals

Eligibility:For-profit companiesAll Technology Sectors EligibleMust be located in Michigan or propose to have a business presence in Michigan

Eligibility:Non-profit organizationsResearch InstitutesInstitutions of higher educationFor-profit companies

Commercialization Proposals

Commercialization Support Services

Commercialization Support ServicesCommercialization Support Services

Maximum Funds -- $20 million

Pre-Seed Funds Business Acceleration

Services Statewide Technology Support

Networks Existing Wet Lab Facility

Redevelopment Specialized Business Services


Applied ResearchApplying existing knowledge to solve a practical problem that has a high potential for commercialization success (testing, prototype development, clinical trials)


Applied Research ProposalsApplied Research Proposals

Eligibility:Michigan Institutions of Higher EducationMichigan Non-Profit Research InstitutionsMichigan Non-Profit CorporationsFor Profit Companies

Collaboration is a Requirement All Technology Sectors Eligible


Basic Research

Seeking to fund proposals aimed at building the research capacity that has the potential to lead toward commercialization; original investigations, proof of concept/theory


Basic Research ProposalsBasic Research Proposals

Eligibility:Michigan Institutions of Higher EducationMichigan Non-Profit Research InstitutionsMichigan Non-Profit Corporations

Alternative Energy Technology Not Eligible Maximum 10% of the 2006 funds ($10

million)

Key Elements of the 2006 Key Elements of the 2006 CompetitionCompetition

• Electronic submission ONLY • Letters of Intent required followed by full

proposals • Collaboration encouraged• Leverage required• Peer-review process by industry experts• Proposal review feedback • Board has final decision making authority

Leverage RequirementLeverage Requirement

Leverage of 21st Century Jobs Funds is required from all applicants

Both Cash and In-Kind will be considered

Cash sources may include: Applicants themselves, VC, Angel, Bank, SBA Loans, Collaborating Business Partners, Federal/Private Grants, etc.

Peer Review/Application ProcessPeer Review/Application Process

6-Month Cycle Letter of Intent (No Pre-Proposals) RFP Compliance Phase Written Review Phase Interview Phase Award Recommendations Ability to Carry Funds Forward to Next

Funding Cycle

Proposal Review CriteriaProposal Review Criteria

Scientific and Technical Merit (25%) Personnel Expertise (25%) Commercialization Merit (25%) Ability to Leverage Other Resources (25%)

The Competition ProcessThe Competition Process

Enter MEDC websitewww.michigan.org/21stcentury

Click on Letter of Intent Enter registration info Fill out LOI form Click submit button

3 Phase Review Process3 Phase Review Process

Mail Review Award Criteria

Board decision andapplicant feedback

•Activity specific criteria•Rated & ranked (highest ranked applicants go on to interviews)•Evaluative feedback

Interviews

Re-rankingbased on

results

Award Type and DurationAward Type and Duration

Awards: Up to 3 years

Institutions of higher education and non-profit organizations may receive grant awards

For-profit organizations typically receive convertible loans (financing terms will depend on project)

Application TimelineApplication Timeline

Action Timeline

Deadline for LOI’s February 17

Deadline for full proposals March 24

Interviews for highest ranked applicants

During June

Award decisions No later than July 31

2nd Competition begins Early August, 2006

Q & AQ & A

Web: www.michigan.org/21stcentury

Email: [email protected]

This program overview is informational only and does not amend the RFP in any way.Michigan Economic Development Corporation300 N. Washington SquareLansing MI 48913

michigan’s 21 st century jobs fund. michigan’s 21 st century jobs fund program overview ...

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