tedco funding programs overview

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 dgincel@tedco.md

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 jhammaker@tedco.md

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 asanthanam@tedco.md

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 hahn@tedco.md

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 hahn@tedco.md

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 asanthanam@tedco.md

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 ajones@tedco.md

• 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 lsaffer@tedco.md

Purpose:

Support TEDCO’s portfolio companies/entrepreneurs

Who:

TEDCO portfolio companies

What:

3 support programs

When:

Varies by program

Program Contact:

Neil Davis ndavis@tedco.md

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 ndavis@tedco.md

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 rkaese@tedco.md

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 lkirwan@tedco.md

Upper Eastern Shore Rep. Lois Haggerty 443.365.3751

lhaggerty@tedco.md

Lower Eastern Shore Rep. Barry Frey

410.202.8867 bfrey@tedco.md

South Central Maryland Rep. Angela Singleton

410.941.9111 asingleton@tedco.md

Western Maryland Rep.

Chuck Ernst

301.491.7034

cernst@tedco.md

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?