TEDCO: New Perspectives on Technology Based Economic Development
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Transcript of TEDCO: New Perspectives on Technology Based Economic Development
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TEDCO: New Perspectives on Technology Based Economic Development
Steven FritzDirector, Technology Transfer
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Technology BasedEconomic Development
SSTI: approach used to create a climate where new industries and the application of technology in traditional industries can thriveTEDCO mission: facilitate the creation of businesses and foster their growth through the commercialization of technology
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ProjectCapitalFunds
$
University Technology
Development Fund
$
Maryland Technology Transfer
Fund
NTCI ATTI
Ft. Detrick TTI
Maryland Industrial Partnerships
DBED Challenge
$ $
$
BasicResearch
Proof of Concept
Feasibility Testing
ProductDesign
Product/Service
DevelopmentProject
Public Laboratory
Company
PublicFunding
Working Capital Loan Fund
Toucan Capital
New Markets Venture Fund
DBED Enterprise
MDBio
SBIR
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Historical Achievements61 companies with completed MTTF projects
$3.5 million in TEDCO support $117.0 million in continuation funding 33.4:1 leverage
Funds were raised from Angel, VC, SBIR, ATP, State, Debt Capital, Fed Contracts, Strategic Partners
25% raised from Federal grantsOver 20 companies raised significant funds from private investors
TEDCO now has equity in two companies and is negotiating conversion for two more
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Corporate Partnering
Johnson & Johnson COSAT$250,000 to support TEDCO portfolio companiesFirst award closing this week to Biomedica Corp.J&J participates in TEDCO proposal review
Actively seeking additional corporate partners
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Federal Technology Insertion
Three federal technology insertion programs were funded by Congress
Focus evolved to be on technology insertionCurrent approach: involve federal technology acquisition staff early and often
Currently exploring direct funding
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Examples of tech insertion
Falcon SystemsInfrared marking of friendly forces for DoD
NanoSolutionsAdvanced energy storage technology
SensicsHead-mounted virtual reality display
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Maryland Stem Cell Research Fund
$15 M for stem cell research by Maryland entitiesStem Cell Commission developing RFPAnticipate making first awards in Spring 2007
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Working Capital Loan Fund
Incubator stage companies$10,000 - $50,000Market interest ratesPersonal guaranteesStarted at rural areas, now extended to entire state
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TechStart
Over half of TEDCO portfolio companies meet AUTM definition of university spin-offTEDCO now provides awards of up to $15,000 to evaluate the feasibility of developing new technologies through a start-up companyMTTF funding available for creation of start-up companies
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Future Directions
Additional corporate investment partnersPublic-private angel investor fundEnhanced incubator programs for entrepreneurial support
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For further information contact
Steven L. Fritz5575 Sterrett Place, Suite 240Columbia, MD [email protected](410)715-4166