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TEDCO Programs for Technology Transfer
2005 FLC Mid-Atlantic Regional Meeting
September 13-15, 2005Ronald W. Kaese
04/19/23 2
PublicFunding
ProjectCapitalFunds
$
University University Technology Technology
Development Development FundFund
$
Maryland Maryland Technology Technology
Transfer FundTransfer Fund
ATTI NTCIATTI NTCI
Ft. Detrick TTIFt. Detrick TTI
Maryland Industrial Partnerships (MIPS)
DBED Challenge
Toucan Capital
New Markets Growth Fund
DBED Enterprise
ASMR MDBio
SBIR
ATP
$ $
$
BasicResearch
Proof of Concept
Feasibility Testing
ProductDevelopment
Product/Service
DevelopmentProject
Public Laboratory
Company
04/19/23 3
Overview
University ProgramsUniversity Patent Support FundUniversity Technology Development Fund
Company ProgramsMaryland Technology Transfer FundFederal Laboratory Programs
04/19/23 4
TEDCO University Patent Support Fund
Goal: increased number of quality invention disclosures and patent applications Partial support (50%, up to $5,000 per patent) for any new patents FY 2004 – 109 new patents supportedFY 2005 – 122 patents supported as of 8/31/2005
04/19/23 5
University Technology Development Fund
Goal: increased commercial value Universities technology transfer offices submit proposals
up to $50,000 per projectOverall, 37 projects are complete
14 licenses, most to startup companies>70% to MD companiesfive licensees obtained TEDCO funding one more is applying
04/19/23 6
Maryland Technology Transfer Fund
Goal: develop high tech early stage companies
collaboration with public lab in Maryland leveraged by TEDCO seed funding
Awards for up to $75,000 per project50% company match, reimbursable based on revenues
Rigorous due diligence reviewExternal and internal expert evaluationsSite visit by TEDCO and DBED staff membersReview committee award recommendationExecutive level decision
04/19/23 7
TEDCO MTTF Portfolio
To date 75 companies have received 80 awards totaling $4,369,528 37 MTTF companies have completed projects
$2.088 million investedTo date these 37 companies
• raised a total of $57.4 million in outside funding
• earned over $7 million in revenues
04/19/23 8
Equity Conversion
TEDCO has completed its first equity conversion of MTTF repayment obligationAlba Therapeutics, closed on $30 million TEDCO received shares of Series A preferred stock A second company, in Venture round negotiations, has also requested an equity conversion
04/19/23 9
MTTF Repayments (revenue based)
In FY 04 first MTTF repayment
In FY 05 four MTTF companies elected early repayment in full one made partial payment
In FY06 three companies have made repayments
~ $200K in repayments from 11 companies
04/19/23 10
TEDCO Federal Laboratory Seed Funding Programs
Programs managedNAVAIR Technology Commercialization InitiativeAberdeen Technology Transfer InitiativeFort Detrick Technology Transfer Initiative
Due diligence review process modeled on MTTF program
04/19/23 11
NAVAIR Technology Commercialization Initiative (NTCI)
Goal: Technology to benefit the Naval Aviator Local Partner: The Patuxent PartnershipAwards of up $75,000 each
NTCI allows second award up to $75,000 Eight Phase-I awards to date ~ $600K
Sensics, Inc. initial award of $75,000 to develop a head-mounted virtual reality display for flight simulators and other applications
04/19/23 12
Aberdeen Technology Transfer Initiative
Goal: cutting-edge technology for Army soldiers Local Partner: TRSG, Inc./Aberdeen BDOAwards of up to $50,000 per project
12 won Army development contracts ~ $600K
CCL BiomedicalAntimicrobial fabrics for soldier and worker health protection
04/19/23 13
Ft. Detrick Technology Transfer InitiativeGoal: transformational medical technology for Army needs Local Partner: Frederick County OED
$600,000 in award pool for company projectsAwards of up to $50,000 per project
eight proposals received to dateSo far two awards for $50,000 each
Sterilex, Inc.Novel antimicrobial compounds for resistant organisms
04/19/23 14
Networking for CollaborationsFort Detrick Showcase July 14, 2005
Creating Superior Biomedical Technologies363 attendees Since the showcase
• Two Proposals
• Eight Whitepapers seeking collaborators
04/19/23 15
MTTF Portfolio Workshops
Topics: SBIR/STTRAngel / VC funding Financial ManagementStrategic Partnering
04/19/23 16
SBIR Workshop
TEDCO will sponsor an SBIR workshop on December 8, 2005
Target Audience: SBIR Winners and Applicants
Partners: Tech Council of Maryland, Prince George County EDC, Virginia CIT, DBED, UMCP