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TETF Workshop. Agenda Eligibility Applying for the Award Application process and submission guidelines.

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Presentation on theme: "TETF Workshop. Agenda Eligibility Applying for the Award Application process and submission guidelines."— Presentation transcript:

1 TETF Workshop

2 Agenda Eligibility Applying for the Award Application process and submission guidelines

3 Commercialization Award Eligibility Criteria 3

4 Eligibility Criteria Required funding factors – must meet ALL criteria: o Significant Texas Research Institution collaboration o Demonstrable economic impact for Texas o Commercialization of emerging technology o Reasonable business plan & proposed project o High likelihood of obtaining additional funding 4

5 Applying for a TETF Award 5

6 6

7 Commercialization Award Application Process 1.Applications submitted to local RCIC for review and selection 2.RCIC’s Review Committee and Board review the applications 3.Selected applications submitted for State review 4.Advisory Committee reviews applications, makes recommendations 5.State Leadership makes funding decision 6.Governor’s Office negotiates contracts for awards 7.Funded companies are provided post-award assistance by RCIC 7 2 7 ETF Advisory Committee State Leadership Governor’s Office 3 RCIC 4 65 Applicant 1

8 Application Submission Checklist Register online through Check the “Apply” page on website Execute and FAX Applicant Agreement Complete application form Pay $250 application fee Submit application and attachment documents via Gust o Business plan, executive summary, technology validation, … Start background/credit checks – that will be needed for State review o These checks can take up to 60 days to complete – don’t wait to start! 8

9 Applying to the Texas Triangle RCIC RCIC website used for application submission o Open browser to o Click on “Apply” then “Get Started”Apply o Follow 5 steps listed on the website: Step 1: Complete TTRCIC Agreement and Fax to TTRCIC Step 2: Complete Pre-application on site o Do this as soon as possible if you might apply this round Step 2: Download application documentsDownload application documents o Application form, workshop slides, applicant instructions, scorecard, sample contracts, … Step 3: Complete application documents Step 4: Submit application via GustSubmit application via 9

10 Application Submission Applications must be submitted through Gust o Must have completed all items on checklist o RCIC may request application document revisions o Failure to provide all documents and the fee will prevent your application from being accepted for this round Applicants contacted within 48 hours o Confirm application acceptance o Start Conflict-of-Interest on Reviewers 10

11 Application Pre-Screening After submission of the application: o A quick review may be performed by a subcommittee of RCIC Staff and Board members to determine which applications are ready for a full review by the RCIC o For applications that are accepted: Application will be submitted to Review Committee for review o For applications that are not accepted: The application fee will be refunded RCIC Staff will be available to provide feedback on the application 11

12 Review Committee Semifinalist Selection Review Committees review application documents o Application documents must ‘stand alone’ o Quality of answers in Application Form extremely critical o Applicants should answer posted questions via GUST o Applicants should be available by phone during the meeting o Applicants not meeting all of the criteria will NOT be selected Feedback may be provided to applicants not selected Applicants notified within 48 hours of committee meeting Semifinalists invited to make presentation at Finalist Selection meeting o Will be provided ETF presentation template 12

13 RCIC Board Meeting Applicant will have an hour with the Regional Board o 15 minutes for their presentation o 20 to 25 minutes of Q&A with management team o The RCIC will assign the date and time of your presentation Board will decide applications to submit to State o Board members may contact you in advance of meeting o Feedback may be provided to applicants o Applicants selected for State will have an opportunity to update their documents and incorporate feedback 13

14 State Application Submission State diligence documents will be provided for completion Complete documentation set to be submitted to the State o Application form, business plan, collaboration documents, technology validation, … o Presentation given to the Advisory Committee in Austin o State’s diligence documents o Any outstanding tax problems must be resolved before State will consider application Companies must be structured as C-Corp to receive an ETF award o Companies can defer restructuring until after receiving state approval 14

15 State Application Process Advisory Committee appoints a subcommittee which will arrange for a presentation and site visit If invited by the subcommittee, applicant will then make a presentation to the full Advisory Committee (usually the 3 rd Thursday of each month) After the Advisory Committee approves an application: o The Governor’s office will begin ‘diligence’ o This process may take 4 to 8 weeks (longer if problems encountered) Once diligence completed, application sent to Leadership for decision o This may take up to 90 days (applications not approved in 90 days are denied) o DO NOT LOBBY THE LEADERSHIP – will likely hurt more than help! After Leadership approval, Governor’s office will negotiate contract o State uses standard template for all TETF agreements; this may take 4 to 6 weeks o Do NOT make any public announcements of a TETF award until AFTER you have a signed contract AND the Governor’s office has made their announcement – RCIC will coordinate this with you 15

16 Contact Information Todd McDaniel, Executive Director Charles Martinez, Managing Director James Lancaster, Investor in Residence 16

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