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Overview of Programs
www.tedco.md
Navigating TEDCO
FUNDING ENTRP. SUPPORT COMMUNITY
• University
• Start-ups
• Growth
• Portfolio
• General
• Events
• Activity
Proof of Concept Product Design Basic Research
University Corporation
Prod. Launch
Stem Cell Research Fund
MD Innovation Initiative
Tech Validation
Cybersecurity Investment Fund
TEDCO’s Primary Funding Programs
Tech Commercialization Fund
Life Science Investment Fund
MD Venture Fund
Maryland Stem Cell Research Fund
Purpose:
Advance stem cell research and treatments in Maryland
Who:
Stem cell researchers in academia and industry
What:
4 separate funding programs
When:
Annually – Nov. (Letter of Intent)/Jan. (App)
Program Contact:
Dan Gincel [email protected]
Investigator-Initiated Grants
Established researchers
Preliminary data
Up to $200K/year in direct costs (for up to 3 years)
Exploratory Research Grants
New hypotheses, approaches, mechanisms, or models
Little or no preliminary data required
Opportunity to initiate/advance careers
Up to $100K/year (for up to 2 years)
Maryland Stem Cell Research Fund
Post-doctoral Fellowship Grants
To recruit and train the best and brightest
Grow Maryland's stem cell research community
Up to $55K/year for research and salary (Max 2 yrs.)
Pre-Clinical & Clinical Research Grants
For biotech companies
Research in Maryland
Pre-Clinical human stem cell research - $500K
Clinical human stem cell research - $750K
Maryland Stem Cell Research Fund
Maryland Innovation Initiative
Purpose:
Accelerating the growth of university-based start-up companies
Who:
‘Qualified Universities’ & their ‘Start-up’ companies
What:
Two phases of funding up to $250K per project
When:
1st of every other month
Program Contact:
Jennifer Hammaker [email protected]
Technology Validation Program
Purpose:
Commercialization of university technologies
Who:
Non-MII Universities, their ‘Start-up’ companies, Fed. Lab start-ups
What:
Two phases of funding up to $50K per project
When:
1st of every month
Program Contact:
Arti Santhanam [email protected]
Technology Commercialization Fund
Purpose:
Fund product development to position a company for follow-on investment
Who:
Early-stage companies in MD meeting eligibility requirements
What:
$100K Investment for up to 12-month projects - $125K Follow-on Investment
When:
1st of every month
Program Contact:
Henry Ahn [email protected]
Cybersecurity Investment Fund
Purpose:
Fund product development to position a cybersecurity company for follow-on investment
Who:
Early-stage “Cybersecurity” companies
What:
$100K Investment for up to 12 months - $125K Follow-on Investment
When:
1st of every month
Program Contact:
Henry Ahn [email protected]
TCF/CIF Eligibility Requirements
Eligibility Requirements:
For-profit with less than 16 FTE employees
AND
Pre-revenue
OR Pre-institutional
Investment (< $500K)
Technology Commercialization Fund
Review Process
Application Submission
Approve/ Reject
Compliance Review
Initial Review
Final Review
• 10 minute pitch • 20 minutes questions • 3rd Wed. 2nd Month
• Proposal review
• Eligibility • RFA compliance
Secondary Review
• Site visit
Life Sciences Investment Fund
Purpose:
Support the development of products requiring FDA approval
Who:
Companies developing products directed to human health
What:
Investments of up to $200K
When:
Bi-annually – April 15th and October 14th 2016
Program Contact:
Arti Santhanam [email protected]
Convertible Note Purchase Agreement
8% simple interest
May convert to equity or another form of investment after the company raises $500K or more (TEDCO’s option)
No discount or cap provision
Reporting requirements until the obligation is fulfilled
TCF/CIF/LSIF Convertible Note Terms
Maryland Venture Fund
Purpose: Early-stage, evergreen venture capital fund with over $100M in assets
Who: Outstanding entrepreneurs with a track record of success seeking smart, early-stage money (industry agnostic)
What: Investments of $50K - $2.5M
When: Any time
Fund Contact:
Andy Jones [email protected]
• Frank Dickson • Alastair Mackay • Seth Shuldiner • Moss Amer
The Team:
Proof of Concept Product Design Basic Research
Research Laboratory Corporation
Prod. Launch
Other Maryland Funding Programs
MD Industrial Partnership $100K
VLT Fund $250K
Entrepreneur Support
Loaned Executives
Executive Coaching
CEO Roundtables
Portfolio Workshops
MERL Members & RBI² Reps
TEDCO Staff Less competitive
More competitive
For CEOs: Access to experienced entrepreneurs as mentors or management
For MERL Members: Opportunity to get involved with a new start-up or give back to the community
MD Entrepreneur Resource List
Program Contact:
Linda Saffer [email protected]
Purpose:
Support TEDCO’s portfolio companies/entrepreneurs
Who:
TEDCO portfolio companies
What:
3 support programs
When:
Varies by program
Program Contact:
Neil Davis [email protected]
Executive Exchange
Purpose:
Help medical device companies achieve 510(k) clearance
Who:
Early stage medical device companies
What:
TEDCO provides experienced medical device executive
When:
Any time
Program Contact:
Neil Davis [email protected]
mdPACE Program
N-STEP Program
• NIST Post-doc commercialization program & start-up funding
NAVAIR Technology Transfer Initiative (NTTI)
• Commercialization of naval aviation technology
Federal Laboratory Access
Federal Initiatives
Contact:
Ron Kaese [email protected]
Build a technology-based, entrepreneurial community in the rural areas of Maryland
• Business Assistance
• Technology Assistance
• Small target project funding
Eligibility
• Less than 16 employees and less than $1M revenues
• Developing/using new technology
Rural Business Innovation Initiative
Rural Business Innovation Initiative
RBI Lead Lee Kirwin 410.430.0770 [email protected]
Upper Eastern Shore Rep. Lois Haggerty 443.365.3751
Lower Eastern Shore Rep. Barry Frey
410.202.8867 [email protected]
South Central Maryland Rep. Angela Singleton
410.941.9111 [email protected]
Western Maryland Rep.
Chuck Ernst
301.491.7034
Community
Entrepreneur Expo
Celebrating Entrepreneurs
Where do I get more information?
W W W . T E D C O . M D
Where do I get more information?
• Request for Application
• Funding Document
• Application Link
• Program Manager
• Checklist
Or . . . Just Ask!!!
Questions?