Overview of Programs www.tedco. md
Overview of Programs . Who is TEDCO? Established 1998 by State Legislature 15 Full-time staff, 6 Part-time contractors 15 Active Funding.
Dec 22, 2015
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Overview of
Programs
www.tedco.md
Who is TEDCO?
Established 1998 by State Legislature
15 Full-time staff, 6 Part-time contractors
15 Active Funding Programs 7 Entrep. Support Programs 300+ Portfolio companies Economic Impact (as of 2013)• $565M overall impact• 2,835 jobs created• $200M company earnings• $22.8M govt. revenues
What is TEDCO’s Purpose?
Fueling opportunity by leading the creation and growth of entrepreneurial enterprises
Mission
Maryland: A global leader where technology innovation and commercialization thrive
Vision
How Does TEDCO Operate?
Funding Programs
Entrepreneur Support
Community
Proof of Concept Product DesignBasic Research
Research Laboratory Corporation
Prod. Launch
Stem Cell Research Fund $110K - $750K
MD Innovation Initiative $320K
Tech Validation $50K
Cybersecurity Investment Fund $225K
TEDCO Capital Partners $500K
TEDCO’s Primary Funding Programs
Tech Commercialization Fund $225K
MD Bio Dev. Fund $200K
MD Venture Fund $1M
Maryland Innovation Initiative
Purpose:
Accelerating the growth of university-based start-up companies
Who:
‘Qualified Universities’ & their ‘Start-up’ companies
What:
Three phases of funding up to $320K per project
When:
1st of every other month
Program Contact:
Jennifer [email protected]
$5.8 million in funding (annually)
For Participating Universities Only:
Maryland Innovation Initiative
Maryland Innovation Initiative
PHASE I
Pre-Commercial Research
PHASE III
Early-Stage Development
Achieve Milestones
Achieve Milestones
PHASE II
Commercialization Planning
Proof-of-principle
Study
Development of a Comm.
Plan
Product Development
$100K - $150K $100K - $150K$15K - $20K
Three Phases of Funding:
Technology Validation Program
Purpose:
Commercialization of university technologies
Who:
Non-MII Universities, their ‘Start-up’ companies, some Fed. Labs
What:
Two phases of funding up to $50K per project
When:
1st of every month
Program Contact:
Linda [email protected]
Two Phases of Funding:
Technology Assessment• Up to $40K• Proof-of-principle study
Market Assessment• Up to $10K• Validate opportunity
Highest-risk phase is first
Team Requirement:
Inventor, Tech. Transfer, Business Person
Technology Validation Program
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 [email protected]
Technology Commercialization Fund
Eligibility Requirements:
For-profit with less than 16 FTE employees
AND
Pre-revenue
OR
Pre-institutional Investment (< $500K)
Technology Commercialization Fund
Review ProcessApplication Submission
Approve/ Reject
Compliance Review
Preliminary Review
Final Review• 10 minute pitch• 20 minutes questions• 3rd Wed. 2nd Month
• Proposal review• Site visit
• Eligibility• RFA compliance
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:
15th of every month
Program Contact:
“Cybersecurity” - Information security and privacy as applied to connected devices
Models TCF Program Company presentation approx.
seven weeks after submission – 1st Wednesday of 2nd month
Cybersecurity Investment Fund
Fund Details
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 Convertible Note Terms
Seed Baltimore Option
Purpose:
Incentivize companies to move to Baltimore City
Who:
TCF/CIF Applicants who do not have a residence in Baltimore City
What:
$50K additional as part of a TCF/CIF investment
When:
Concurrent with TCF/CIF applications
TEDCO Capital Partners
Purpose:
ROI/Grow Baltimore City’s entrepreneurial activity
Who:
Companies in Baltimore City with exit opportunities in 4-7 years
What:
Angel investments up to $250K
When:
Open submissions
Program Contact:
Stuart [email protected]
Program Contact:
Moss [email protected]
TEDCO Capital Partners
Purpose:
ROI/Support veteran-led businesses
Who:
Companies founded, owned, or managed by U.S. veterans
What:
Venture capital investments up to $3M
When:
Open submissions
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:
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
Proof of Concept Product DesignBasic 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 StaffLess competitive
More competitive
Purpose:
Support TEDCO’s portfolio companies/entrepreneurs
Who:
Primarily, TEDCO portfolio companies
What:
5 support programs
When:
Varies by program
Program Contact:
Neil [email protected]
Portfolio Company Resources
Loaned Executive• C-level executive• 1 – 2 days/week for 6 – 12 months• Achieve a determined milestone
Portfolio Company Resources
Executive Coach• Professional coaches provided• Critical point in company’s growth
CEO Roundtables• Specific verticals/affinity
groups
Portfolio Workshops• Relevant topics selected by
entrepreneurs• Networking• MERL mentorship• 3 Times per year
Portfolio Company Resources
Incubator Support• Feasibility studies• Capital projects• Board representation• Incubator Assistance Fund
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
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 [email protected]
Northeast Maryland and Mid & Upper Eastern Shore Rep.
410.533.7036 [email protected]
Lower Eastern Shore Rep.Barry Frey
Southern Maryland Rep. Angela Singleton
410.941.9111 [email protected]
Western Maryland Rep.Chuck [email protected]
Community
Annual ICE Awards
• Innovation• Corporation• Entrepreneur
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?
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