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Michigan’s 21 st Century Jobs Fund. Michigan’s 21 st Century Jobs Fund. Program overview Commercialization Development Fund mission Eligible organizations and activities Funding competition Timeline Questions and answers. Michigan’s 21 st Century Jobs Fund.

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Michigan’s 21 st Century Jobs Fund

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Michigan s 21 st century jobs fund

Michigan’s

21st Century Jobs Fund


Michigan s 21 st century jobs fund

Michigan’s 21st Century Jobs Fund

  • Program overview

  • Commercialization Development Fund mission

  • Eligible organizations and activities

  • Funding competition

  • Timeline

  • Questions and answers


Michigan s 21 st century jobs fund1

Michigan’s 21st Century Jobs Fund

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


Michigan s 21 st century jobs fund

21st Century Jobs Fund“Jump start the economy now and diversify and grow our economy for the future”

  • Increase Capital Investment

  • Increase Commercial Lending Activity

  • Encourage the Development and Commercialization of Competitive Edge Technologies


21 st century commercialization development fund 2006

21st Century Commercialization Development 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 fund mission

Commercialization Development Fund Mission

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.


Eligible programmatic activities

Eligible 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 sciences

Bioengineering

Biomedical engineering

Genomics

Proteomics

Molecular and chemical ecology

Biotechnology

Pharmaceuticals

Medical Devices

Instrumentation

Diagnostics

Biotechnology Research and Ancillary Services

Life Sciences

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


Homeland security defense

Homeland 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 manufacturing and materials

Advanced Automotive, Manufacturing, 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 energy

Alternative 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 projects

Additional 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 21 st century commercialization development fund competition

Michigan 21st Century Commercialization Development Fund Competition

  • Life Sciences

  • Homeland Security

  • Advanced Automotive, Manufacturing, and Materials

Commercialization

Applied Research

Basic Research

  • Life Sciences

  • Homeland Security

  • Advanced Automotive, Manufacturing, and Materials

  • Alternative Energy

  • Life Sciences

  • Homeland Security

  • Advanced Automotive, Manufacturing, and Materials

  • Alternative Energy


21 st century commercialization development fund

21st Century Commercialization Development Fund

  • Commercialization

    The 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

Applied Research

Basic Research


Commercialization proposals

Commercialization Proposals

Commercialization Proposals

  • Eligibility:

    • For-profit companies

    • All Technology Sectors Eligible

    • Must be located in Michigan or propose to have a business presence in Michigan

  • Eligibility:

    • Non-profit organizations

    • Research Institutes

    • Institutions of higher education

    • For-profit companies

Commercialization Support Services


Commercialization support services

Commercialization Support Services

Maximum Funds -- $20 million

  • Pre-Seed Funds

  • Business Acceleration Services

  • Statewide Technology Support Networks

  • Existing Wet Lab Facility Redevelopment

  • Specialized Business Services


21 st century commercialization development fund1

21st Century Commercialization Development Fund

  • Applied Research

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

Applied Research

Commercialization

Basic Research


Applied research proposals

Applied Research Proposals

  • Eligibility:

    • Michigan Institutions of Higher Education

    • Michigan Non-Profit Research Institutions

    • Michigan Non-Profit Corporations

    • For Profit Companies

  • Collaboration is a Requirement

  • All Technology Sectors Eligible


21 st century commercialization development fund2

21st Century Commercialization Development Fund

  • 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

Applied Research

Commercialization

Basic Research


Basic research proposals

Basic Research Proposals

Eligibility:

  • Michigan Institutions of Higher Education

  • Michigan Non-Profit Research Institutions

  • Michigan Non-Profit Corporations

  • Alternative Energy Technology Not Eligible

  • Maximum 10% of the 2006 funds ($10 million)


  • Key elements of the 2006 competition

    Key Elements of the 2006 Competition

    • 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 requirement

    Leverage 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 process

    Peer 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 criteria

    Proposal Review Criteria

    • Scientific and Technical Merit (25%)

    • Personnel Expertise (25%)

    • Commercialization Merit (25%)

    • Ability to Leverage Other Resources (25%)


    The competition process

    The Competition Process

    • Enter MEDC website

      • www.michigan.org/21stcentury

    • Click on Letter of Intent

    • Enter registration info

    • Fill out LOI form

    • Click submit button


    3 phase review process

    3 Phase Review Process

    Mail Review

    Interviews

    Award Criteria

    • Activity specific criteria

    • Rated & ranked (highest ranked applicants go on to interviews)

    • Evaluative feedback

    Board decision and

    applicant feedback

    Re-ranking

    based on

    results


    Award type and duration

    Award 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 timeline

    Application Timeline


    Michigan s 21 st century jobs fund

    Q & 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 Corporation

      300 N. Washington Square

      Lansing MI 48913


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