tedco seed funding programs for technology development and commercialization james a. poulos, iii,...
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TEDCO Seed Funding Programs for Technology Development and Commercialization
James A. Poulos, III, J.D.March 19, 2008
EASTERN SHORE FLC/ECONOMIC DEVELOPMENT SEMINAR
Technology Transfer Mission
Build the technology-based economy in Maryland
OutreachProject development
Assist companies and laboratories to achieve their mutual objectives
ProjectProjectCapitalCapitalFundsFunds
$ $
$
BasicBasicResearchResearch
Proof of Proof of ConceptConcept
Feasibility Feasibility TestingTesting
ProductProductDesignDesign
Product/Product/ServiceService
DevelopmentDevelopmentProjectProject
Public Public LaboratoryLaboratory
CompanyCompany
PublicPublicFundingFunding
Angel Investors
Venture Capital
SBIRSBIR
$
Funding Opportunities Outside Maryland
TEDCO’s depiction of the Valley of Death
ProjectProjectCapitalCapitalFundsFunds
$
University University Technology Technology
Development Development FundFund
$
Maryland Technology Maryland Technology Transfer FundTransfer Fund
FDTTIFDTTI
J&JJ&JMaryland Industrial
Partnerships
DBED Challenge SBIRSBIR
$
$
BasicBasicResearchResearch
Proof of Proof of ConceptConcept
Feasibility Feasibility TestingTesting
ProductProductDesignDesign
Product/Product/ServiceService
DevelopmentDevelopmentProjectProject
Public Public LaboratoryLaboratory
CompanyCompany
PublicPublicFundingFunding
WCLFWCLF
Angels
Venture Capital
DBED Enterprise
MDBioMDBio
TechStartTechStart
$
TechbridgeTechbridge
$
$ $$
Maryland Stem Cell Research Fund
Maryland Technology Transfer Fund (MTTF)
Facilitate the transfer of technology between Maryland Universities or Federal Laboratories and Maryland Companies
Project must involve significant collaboration
Maximum award amount is $75,000. Reimbursable award Requires a 50% company match
MTTF Eligibility
Recipient must be Maryland businessFewer than 16 employees ORUniversity/fed lab spin-out less than 5 years prior to proposal
Recipient must be early stageNo revenue OROR• Revenue = commercial product
sales/services
No venture investment
How we measure successAchieving technical/budget/schedule milestonesFinding continuation funding
92 companies with completed MTTF projects (3/10/08)$8,2365,5499 in TEDCO support$260M in continuation funding>33:1 leverage Funds were raised from Angel, VC, SBIR, ATP, State, Debt Capital, Fed Contracts, Strategic Partners, etc.
www.invenioip.org
A source for locating technology from the federal labs or universities
Fort Detrick Technology Transfer Initiative (FDTTI)
Transformational medical technology Meet Army technology needs (BioMed focus) Maximum award is $50,000
Executive Panel Decision Grant, TEDCO Agreement
University Technology Development Fund
Supports pre-commercial research on university technology for commercialization All institutions of higher education in Maryland are eligible University faculty or staff apply in cooperation with the technology licensing officeMaximum award: $50,000
TechStart ProgramIncrease the number of university start-up companiesAll university labs in the State are eligibleTeam - experienced entrepreneur, the inventor, and a technology transfer managerFunding up to $15,000 for commercialization analysis
(IP, market, competition, business model)
Working Capital Loan FundWorking capital loans - $15,000-$50,000Terms typically 3 - 5 years, no less than 6 monthsInterest rates at or below market rateTargets is incubation stage companiesEligible companies
located in Marylandearly stagetechnology relatedbeyond development
Benefits of TEDCO FundingAccess to business and technical assistance
Access to Venture Capital, angels, and strategic partners (e.g. Johnson & Johnson)Publicity through TEDCO press releases Recognition and reputation of state programsWorkshops for TEDCO funded companies only
Meet one on one with expertsNetwork with other companies
Entrepreneurial Assistance
Achieving The Commercialization of Technology in Ventures Through Applied Training for Entrepreneurs (ACTiVATE) The Maryland Minority R&D Initiative (MMRDI) The Maryland Rural Business Innovation Initiative (RBI) The New Markets Growth Fund (NMGF)
TEDCO and FED Partners
TEDCO has entered into MoUs, PIA’s and other agreements with nine Fed Labs and is in discussion with two more
APG, APL, BARC, NAWC Pax River, NSWC Indian Head, NSWC Carderock, National Naval Medical Center, NSA, NIST
Contacts Henry Ahn (MMTF manager) [email protected](410)715-4165
Ronald Kaese (FDTTI manager)[email protected](410)715-4170
Linda Saffer Ph.D. (UTDF and TechStart manager) [email protected](410)715-4165
Heidi Sheppard (WCL Fund manager) [email protected](410) 715-4173
further contact information
James A. Poulos, III5565 Sterrett Place, Suite 214Columbia, MD [email protected](410)715-4166