Overview of
Programs
www.tedco.md
Who is TEDCO?
Established 1998 by State
Legislature
 15 Full-time staff, 6 Part-time
contractors
 15 Active Funding Programs
 7 Entrep. Support Programs
 300+ Portfolio companies
 Economic Impact (as of 2013)
• $565M overall impact
• 2,835 jobs created
• $200M company earnings
• $22.8M govt. revenues

What is TEDCO’s Purpose?
Mission
Fueling opportunity by leading
the creation and growth of
entrepreneurial enterprises
Vision
Maryland: A global leader where
technology innovation and
commercialization thrive
How Does TEDCO Operate?
Funding Programs
Entrepreneur Support
Community
TEDCO’s Primary Funding Programs
Research Laboratory
Corporation
Stem Cell Research Fund $110K - $750K
TEDCO Capital Partners $500K
MD Venture Fund $1M
MD Bio Dev. Fund $200K
Tech Commercialization Fund $225K
Cybersecurity Investment Fund $225K
MD Innovation Initiative $320K
Tech Validation $50K
Basic Research
Proof of Concept
Product Design
Prod. Launch
Maryland Innovation Initiative
Purpose:
Accelerating the growth of universitybased start-up companies
Who:
Program Contact:
‘Qualified Universities’ & their ‘Startup’ companies
What:
Three phases of funding up to $320K
per project
Jennifer Hammaker
jhammaker@tedco.md
When:
1st of every other month
Maryland Innovation Initiative
$5.8 million in funding
(annually)
For Participating
Universities Only:
Maryland Innovation Initiative
Three Phases of Funding:
PHASE I
PHASE II
PHASE III
Pre-Commercial
Research
Commercialization
Planning
Early-Stage
Development
Proof-ofprinciple
Study
Development
of a Comm.
Plan
$100K - $150K
Achieve
Milestones
$15K - $20K
Achieve
Milestones
Product
Development
$100K - $150K
Technology Validation Program
Purpose:
Commercialization of university
technologies
Who:
Program Contact:
Non-MII Universities, their ‘Startup’ companies, some Fed. Labs
What:
Two phases of funding up to $50K
per project
Linda Saffer
lsaffer@tedco.md
When:
1st of every month
Technology Validation Program
Two Phases of Funding:



Technology Assessment
• Up to $40K
• Proof-of-principle study
Market Assessment
• Up to $10K
• Validate opportunity
Highest-risk phase is first
Team Requirement:

Inventor, Tech. Transfer,
Business Person
Technology Commercialization Fund
Purpose:
Fund product development to position
a company for follow-on investment
Who:
Program Contact:
Early-stage companies in MD meeting
eligibility requirements
What:
$100K Investment for up to 12 month
projects - $125K Follow-on Investment
Henry Ahn
hahn@tedco.md
When:
1st of every month
Technology Commercialization Fund
Eligibility Requirements:


For-profit with less
than 16 FTE
employees
Pre-revenue
OR
AND

Pre-institutional
Investment (< $500K)
Technology Commercialization Fund
Application
Submission
Review Process
Compliance Review
• Eligibility
• RFA compliance
Preliminary Review
• Proposal review
• Site visit
Final Review
Approve/
Reject
• 10 minute pitch
• 20 minutes questions
• 3rd Wed. 2nd Month
Cybersecurity Investment Fund
Purpose:
Fund product development to position
a cybersecurity company for follow-on
investment
Who:
Program Contact:
Early-stage “Cybersecurity” companies
What:
$100K Investment for up to 12 months
- $125K Follow-on Investment
Ron Kaese
rkaese@tedco.md
When:
15th of every month
Cybersecurity Investment Fund
Fund Details

“Cybersecurity” - Information
security and privacy as applied to
connected devices

Models TCF Program

Company presentation approx.
seven weeks after submission –
1st Wednesday of 2nd month
TCF/CIF Convertible Note Terms
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
Seed Baltimore Option
Purpose:
Incentivize companies to move to
Baltimore City
Who:
TCF/CIF Applicants who do not have a
residence in Baltimore City
What:
$50K additional as part of a TCF/CIF
investment
When:
Concurrent with TCF/CIF applications
TEDCO Capital Partners
Purpose:
ROI/Grow Baltimore City’s
entrepreneurial activity
Who:
Program Contact:
Companies in Baltimore City with
exit opportunities in 4-7 years
What:
Angel investments up to $250K
When:
Stuart Sutley
ssutley@tcp.vc
Open submissions
TEDCO Capital Partners
Purpose:
ROI/Support veteran-led
businesses
Who:
Program Contact:
Companies founded, owned, or
managed by U.S. veterans
What:
Venture capital investments up to
$3M
Moss Amer
When:
mamer@vof.vc
Open submissions
Maryland Stem Cell Research Fund
Purpose:
Advance stem cell research and
treatments in Maryland
Who:
Program Contact:
Stem cell researchers in academia
and industry
What:
4 separate funding programs
When:
Dan Gincel
dgincel@tedco.md
Annually – Nov. (Letter of
Intent)/Jan. (App)
Maryland Stem Cell Research Fund
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
Other Maryland Funding Programs
Research Laboratory
Corporation
VLT Fund $250K
MD Industrial Partnership $100K
Basic Research
Proof of Concept
Product Design
Prod. Launch
Entrepreneur Support
More competitive
Loaned Executives
Executive Coaching
CEO Roundtables
Portfolio Workshops
MERL Members & RBI² Reps
Less competitive
TEDCO Staff
Portfolio Company Resources
Purpose:
Support TEDCO’s portfolio
companies/entrepreneurs
Who:
Program Contact:
Primarily, TEDCO portfolio
companies
What:
5 support programs
When:
Neil Davis
ndavis@tedco.md
Varies by program
Portfolio Company Resources

Loaned Executive
• C-level executive
• 1 – 2 days/week for 6 – 12 months
• Achieve a determined milestone

CEO Roundtables
• Specific verticals/affinity
groups

Executive Coach
• Professional coaches provided
• Critical point in company’s growth
Portfolio Company Resources

Portfolio Workshops
• Relevant topics selected by
entrepreneurs
• Networking
• MERL mentorship
• 3 Times per year

Incubator Support
• Feasibility studies
• Capital projects
• Board representation
• Incubator Assistance Fund
MD Entrepreneur Resource List

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
Rural Business Innovation Initiative

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
Western Maryland Rep.
Chuck Ernst
301.491.7034
cernst@tedco.md
Northeast Maryland and
Mid & Upper Eastern Shore Rep.
410.533.7036
rhawkins@tedco.md
RBI Lead
Lee Kirwin
410.430.0770
lkirwan@tedco.md
Southern Maryland Rep.
Angela Singleton
410.941.9111
asingleton@tedco.md
Lower Eastern Shore Rep.
Barry Frey
410.202.8867
bfrey@tedco.md
Community
Annual ICE Awards
• Innovation
• Corporation
• Entrepreneur
Community
Entrepreneur Expo
Celebrating Entrepreneurs
Where do I get more information?
WWW.TEDCO.MD
Where do I get more information?
Request for
Application
Checklist
Funding
Document
Application Link
Program Manager
Or . . . Just Ask!!!
Questions?