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Investing in California SBIR Companies CSA / RTTC management of venture capital firms

Investing in California SBIR Companies CSA / RTTC management of venture capital firms. Prepared by: CSA Ad hoc Investment Committee October 8 th , 2005. Congressional Research Service Perspective.

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Investing in California SBIR Companies CSA / RTTC management of venture capital firms

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  1. Investing in California SBIR CompaniesCSA / RTTC management of venture capital firms Prepared by:CSA Ad hoc Investment Committee October 8th , 2005

  2. Congressional Research Service Perspective [NASA’s SBIR and STTR] programs will focus on the development and support of mechanisms to ‘accelerate and augment development of mission relevant SBIR technology for NASA missions’ as well as on efforts to move SBIR technology into the marketplace. To this end, NASA intends to propose statutory changes to permit the application of SBIR funds, matched by private sector money for ‘post-phase II dual use technology development.’ Current law allows agencies to use government funds, but not those dedicated to the SBIR activity, to commercialize SBIR technologies necessary to achieve mission requirements.[1] [1] Smith, Marcia S., Daniel Morgan and Wendy H. Schacht, The National Aeronautics and Space Administration’s FY2004 Budget Request: Description, Analysis, and Issues for Congress, CRS Report for Congress, Order Code RL31821updated September 23, 2003, page CRS-46.

  3. NASA Research and Technology Development Programs Dollars License Deals Knowledge/Technology Dollars SBIR/STTR Contracts Knowledge/Technology Dollars Space Act Agreements Knowledge/Technology Dollars Spin-In Partnerships Knowledge/Technology NASA Spin-Off and Spin-In Comparison Key Traditional Spin-Off New Spin-In

  4. NASA Partnership Mechanisms • Proposed Spin- • License SBIR In Agreement • Value to • NASA Royalties Technology Matching funds/ • technology • NASA • Funding None Ph I: 70K No limit • Ph II: 600K • Start-up • Time est. 6 mos. Ph I: 12 mos. est. 6 mos. • Ph II: 24-30 mos. • Source of • Funds Company NASA SBIR NASA/company • operating funds • Term of • Agreement Negotiable 30-36 mos. Negotiable

  5. SBIR/STTR Phase II Pool for Strawman Spin-In Model • Year Number of Awards Nationally • NASAMDAAFDARPA • 2003 162 98 301 34 • 2002 145 244 263 85 • 2001 151 57 250 54 • 2000 144 78 241 56 • 19991455119656 • Total 747 528 1251 285 • Grand Total 2811 awards (California ~20%)

  6. Ad hoc Committee Activities • Initial Conference Call(Dozier, Gallo, Zeller) • WebEx Sessions Held • Framework for Investment Considerations(Dozier, Gallo, Zeller) • Alameda Venture Capital Investment Perspective (Rich Helfrich, Managing Director) • Venture Capital SBIR Perspective • Refinement of SBIR Perspective(Rick Shindell, National SBIR Expert) • CSA Board Status Report

  7. Findings • California SBIR Phase II awards is a viable market size • Focus on Bio, Nano, Info Technology with space as the Integrator • Creation of special fund has been done before • $200 million of Willie Brown / (California First) • PERS Version in progress • Need to find credible public face

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