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TEDCO Programs for Technology Transfer

TEDCO Programs for Technology Transfer. 2005 FLC Mid-Atlantic Regional Meeting September 13-15, 2005 Ronald W. Kaese. Basic Research. $. $. $. $. $. Public Laboratory. Company. Product/ Service Development Project. Proof of Concept. Feasibility Testing. Product Development.

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TEDCO Programs for Technology Transfer

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  1. TEDCO Programs for Technology Transfer 2005 FLC Mid-Atlantic Regional Meeting September 13-15, 2005 Ronald W. Kaese

  2. Basic Research $ $ $ $ $ Public Laboratory Company Product/ Service Development Project Proof of Concept Feasibility Testing Product Development Maryland Technology Transfer Fund ATTI NTCI Ft. Detrick TTI Maryland Industrial Partnerships (MIPS) DBED Challenge University Technology Development Fund Toucan Capital New Markets Growth Fund DBED Enterprise ASMR MDBio SBIR ATP Public Funding Project Capital Funds

  3. Overview • University Programs • University Patent Support Fund • University Technology Development Fund • Company Programs • Maryland Technology Transfer Fund • Federal Laboratory Programs

  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 supported • FY 2005 – 122 patents supported as of 8/31/2005

  5. University Technology Development Fund • Goal: increased commercial value • Universities technology transfer offices submit proposals • up to $50,000 per project • Overall, 37 projects are complete • 14 licenses, most to startup companies • >70% to MD companies • five licensees obtained TEDCO funding • one more is applying

  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 project • 50% company match, reimbursable based on revenues • Rigorous due diligence review • External and internal expert evaluations • Site visit by TEDCO and DBED staff members • Review committee award recommendation • Executive level decision

  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 invested • To date these 37 companies • raised a total of $57.4 million in outside funding • earned over $7 million in revenues

  8. Equity Conversion • TEDCO has completed its first equity conversion of MTTF repayment obligation • Alba 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

  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

  10. TEDCO Federal Laboratory Seed Funding Programs • Programs managed • NAVAIR Technology Commercialization Initiative • Aberdeen Technology Transfer Initiative • Fort Detrick Technology Transfer Initiative • Due diligence review process modeled on MTTF program

  11. NAVAIR Technology Commercialization Initiative (NTCI) • Goal: Technology to benefit the Naval Aviator • Local Partner: The Patuxent Partnership • Awards 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

  12. Aberdeen Technology Transfer Initiative • Goal: cutting-edge technology for Army soldiers • Local Partner: TRSG, Inc./Aberdeen BDO • Awards of up to $50,000 per project • 12 won Army development contracts ~ $600K • CCL Biomedical • Antimicrobial fabrics for soldier and worker health protection

  13. Ft. Detrick Technology Transfer Initiative • Goal: transformational medical technology for Army needs • Local Partner: Frederick County OED • $600,000 in award pool for company projects • Awards of up to $50,000 per project • eight proposals received to date • So far two awards for $50,000 each • Sterilex, Inc. • Novel antimicrobial compounds for resistant organisms

  14. Networking for Collaborations • Fort Detrick Showcase July 14, 2005 • Creating Superior Biomedical Technologies • 363 attendees • Since the showcase • Two Proposals • Eight Whitepapers seeking collaborators

  15. MTTF Portfolio Workshops • Topics: • SBIR/STTR • Angel / VC funding • Financial Management • Strategic Partnering

  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

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