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TEDCO Seed Funding Programs for Technology Development and Commercialization
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  1. TEDCO Seed Funding Programs for Technology Development and Commercialization James A. Poulos, III, J.D. March 19, 2008 EASTERN SHORE FLC/ECONOMIC DEVELOPMENT SEMINAR

  2. Technology Transfer Mission • Build the technology-based economy in Maryland • Outreach • Project development • Assist companies and laboratories to achieve their mutual objectives

  3. Basic Research $ $ $ $ Public Laboratory Company Product/ Service Development Project Proof of Concept Feasibility Testing Product Design SBIR Angel Investors Venture Capital Public Funding Project Capital Funds Funding Opportunities Outside Maryland TEDCO’s depiction of the Valley of Death

  4. Basic Research $ $ $ $ $ $ $ $ Public Laboratory Company Product/ Service Development Project Proof of Concept Feasibility Testing Product Design TechStart Maryland Technology Transfer Fund FDTTI J&J Maryland Industrial Partnerships DBED Challenge SBIR WCLF Angels Venture Capital DBED Enterprise MDBio University Technology Development Fund $ Public Funding Project Capital Funds Techbridge Maryland Stem Cell Research Fund

  5. Maryland Technology Transfer Fund (MTTF) • Facilitate the transfer of technology between MarylandUniversities or Federal Laboratories and Maryland Companies • Project must involve significant collaboration • Maximum award amount is $75,000. • Reimbursable award • Requires a 50% company match

  6. MTTF Eligibility • Recipient must be Maryland business • Fewer than 16 employees OR • University/fed lab spin-out less than 5 years prior to proposal • Recipient must be early stage • No revenue OR • Revenue = commercial product sales/services • No venture investment

  7. How we measure success • Achieving technical/budget/schedule milestones • Finding 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.

  8. www.invenioip.org A source for locating technology from the federal labs or universities

  9. 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

  10. 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 office • Maximum award: $50,000

  11. TechStart Program • Increase the number of university start-up companies • All university labs in the State are eligible • Team - experienced entrepreneur, the inventor, and a technology transfer manager • Funding up to $15,000 for commercialization analysis • (IP, market, competition, business model)

  12. Working Capital Loan Fund • Working capital loans - $15,000-$50,000 • Terms typically 3 - 5 years, no less than 6 months • Interest rates at or below market rate • Targets is incubation stage companies • Eligible companies • located in Maryland • early stage • technology related • beyond development

  13. Benefits of TEDCO Funding • Access 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 programs • Workshops for TEDCO funded companies only • Meet one on one with experts • Network with other companies

  14. 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)

  15. 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

  16. Contacts Henry Ahn (MMTF manager) hahn@marylandtedco.org (410)715-4165 Ronald Kaese (FDTTI manager) rkaese@marylandtedco.org (410)715-4170 Linda Saffer Ph.D. (UTDF and TechStart manager) lsaffer@marylandtedco.org (410)715-4165 Heidi Sheppard (WCL Fund manager) hspeppard@marylandtedco.org (410) 715-4173

  17. further contact information James A. Poulos, III 5565 Sterrett Place, Suite 214 Columbia, MD 21044 www.marylandtedco.org Jpoulos@marylandtedco.org (410)715-4166