overview of programs . who is tedco? established 1998 by state legislature 15 full-time staff, 6...
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![Page 1: Overview of Programs . Who is TEDCO? Established 1998 by State Legislature 15 Full-time staff, 6 Part-time contractors 15 Active Funding](https://reader035.vdocuments.us/reader035/viewer/2022062221/56649d745503460f94a54a0b/html5/thumbnails/1.jpg)
Overview of
Programs
www.tedco.md
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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
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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
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How Does TEDCO Operate?
Funding Programs
Entrepreneur Support
Community
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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
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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]
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$5.8 million in funding (annually)
For Participating Universities Only:
Maryland Innovation Initiative
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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:
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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]
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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
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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]
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Technology Commercialization Fund
Eligibility Requirements:
For-profit with less than 16 FTE employees
AND
Pre-revenue
OR
Pre-institutional Investment (< $500K)
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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
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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:
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“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
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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
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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
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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]
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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
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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:
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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
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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
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Proof of Concept Product DesignBasic Research
Research Laboratory Corporation
Prod. Launch
Other Maryland Funding Programs
MD Industrial Partnership $100K
VLT Fund $250K
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Entrepreneur Support
Loaned Executives
Executive Coaching
CEO Roundtables
Portfolio Workshops
MERL Members & RBI² Reps
TEDCO StaffLess competitive
More competitive
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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
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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
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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
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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
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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
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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]
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Community
Annual ICE Awards
• Innovation• Corporation• Entrepreneur
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Community
Entrepreneur Expo
Celebrating Entrepreneurs
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Where do I get more information?
W W W . T E D C O . M D
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Where do I get more information?
Request for Application
Funding Document
Application Link
Program Manager
Checklist
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Or . . . Just Ask!!!
Questions?