tedco funding briefing august 2016
TRANSCRIPT
Overview of Programs
www.tedco.md
Navigating TEDCO
FUNDINGENTREPRENEUR
SUPPORT COMMUNITY
• University
• Start-ups
• Growth
• Portfolio
• General
• Events
• Activity
Proof of Concept Product DesignBasic 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, entrepreneurs, and industry
What:
4 separate funding programs
When:
Annually
Program Contact:
Maryland Stem Cell Research Fund
Discovery Validation Commercialization Clinical
Basic & translational scientists
Translational scientists & start-up business people
Start-up business people & investors
Start-up business people, investors, & clinicians
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 $265K per project
When:
1st of every other month
Program Contact:
Jennifer [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 [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 months
When:
1st of every month
Contact:
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
When:
1st of every month
Contact:
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 ProcessApplication Submission
Approve/ Reject
Compliance Review
Initial Review
Final Review• 10 minute pitch• 20 minutes questions• 3rd Wed. 2nd Month
• Proposal review
• Eligibility• RFA compliance
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 – October 14th 2016 and April 14th 2017
Program Contact:
Arti [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 $500K - $2M
When:Any time
Fund Contact:
Andy [email protected]
• Frank Dickson• Seth Shuldiner• Moss Amer• Arti Santhanam• Phil Jung
The Team:
Proof of Concept Product DesignBasic Research
Research Laboratory Corporation
Prod. Launch
Other Maryland Funding Programs
MD Industrial Partnership $100K
VLT Fund $250K http://commerce.maryland.gov/fund/programs-for-businesses/vlt
http://www.mips.umd.edu/
Entrepreneur Support
Loaned Executives
Executive Coaching
CEO Roundtables
Portfolio Workshops
MERL Members & RBI² Reps
TEDCO StaffLess 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 [email protected]
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]
Entrepreneur Support
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 [email protected]
mdPACE Program
Purpose:
Assist entrepreneurs develop better market assessments
Who:
Entrepreneurs and companies affiliated with TEDCO
What:
Access to databases and business expertise
When:
Advisors by appointment
Market Search Advisory Services
Program Contact:
Stephen [email protected]
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:
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]
Upper Eastern Shore Rep.Lois Haggerty443.365.3751 [email protected]
Lower Eastern Shore Rep.Barry Frey
South Central Maryland Rep. Angela Singleton
410.941.9111 [email protected]
Western Maryland Rep.Chuck [email protected]
Community
Entrepreneur Expo
November 14, 2016Baltimore Hilton
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?