TEDCO: New Perspectives on Technology Based Economic Development Steven Fritz Director, Technology Transfer.

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Presentation transcript:

TEDCO: New Perspectives on Technology Based Economic Development Steven Fritz Director, Technology Transfer

Technology Based Economic Development SSTI: approach used to create a climate where new industries and the application of technology in traditional industries can thrive TEDCO mission: facilitate the creation of businesses and foster their growth through the commercialization of technology

Project Capital Funds $ University Technology Development Fund $ Maryland Technology Transfer Fund NTCI ATTI Ft. Detrick TTI Maryland Industrial Partnerships DBED Challenge $$ $ Basic Research Proof of Concept Feasibility Testing Product Design Product/ Service Development Project Public Laboratory Company Public Funding Working Capital Loan Fund Toucan Capital New Markets Venture Fund DBED Enterprise MDBio SBIR

Historical Achievements 61 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 grants Over 20 companies raised significant funds from private investors TEDCO now has equity in two companies and is negotiating conversion for two more

Corporate Partnering Johnson & Johnson COSAT $250,000 to support TEDCO portfolio companies First award closing this week to Biomedica Corp. J&J participates in TEDCO proposal review Actively seeking additional corporate partners

Federal Technology Insertion Three federal technology insertion programs were funded by Congress Focus evolved to be on technology insertion Current approach: involve federal technology acquisition staff early and often Currently exploring direct funding

Examples of tech insertion Falcon Systems Infrared marking of friendly forces for DoD NanoSolutions Advanced energy storage technology Sensics Head-mounted virtual reality display

Maryland Stem Cell Research Fund $15 M for stem cell research by Maryland entities Stem Cell Commission developing RFP Anticipate making first awards in Spring 2007

Working Capital Loan Fund Incubator stage companies $10,000 - $50,000 Market interest rates Personal guarantees Started at rural areas, now extended to entire state

TechStart Over half of TEDCO portfolio companies meet AUTM definition of university spin-off TEDCO now provides awards of up to $15,000 to evaluate the feasibility of developing new technologies through a start- up company MTTF funding available for creation of start- up companies

Future Directions Additional corporate investment partners Public-private angel investor fund Enhanced incubator programs for entrepreneurial support

For further information contact Steven L. Fritz 5575 Sterrett Place, Suite 240 Columbia, MD (410)