TEDCO: New Perspectives on Technology Based Economic Development

Steven FritzDirector, Technology Transfer

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

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

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

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

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

Examples of tech insertion

Falcon SystemsInfrared marking of friendly forces for DoD

NanoSolutionsAdvanced energy storage technology

SensicsHead-mounted virtual reality display

Maryland Stem Cell Research Fund

$15 M for stem cell research by Maryland entitiesStem Cell Commission developing RFPAnticipate making first awards in Spring 2007

Working Capital Loan Fund

Incubator stage companies$10,000 - $50,000Market interest ratesPersonal guaranteesStarted at rural areas, now extended to entire state

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

Future Directions

Additional corporate investment partnersPublic-private angel investor fundEnhanced incubator programs for entrepreneurial support

For further information contact

Steven L. Fritz5575 Sterrett Place, Suite 240Columbia, MD 21044www.marylandtedco.orgsfritz@marylandtedco.org(410)715-4166