Overview of Programs

Who is TEDCO?  Established 1998 by State Legislature  25 Full-time staff, 6 Part-time contractors  16 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? Fueling opportunity by leading the creation and growth of entrepreneurial enterprises Mission Maryland: A global leader where technology innovation and commercialization thrive Vision

How Does TEDCO Operate? Funding Programs Entrepreneur Support Community

Proof of ConceptProduct DesignBasic Research Research LaboratoryCorporation Prod. Launch Stem Cell Research Fund $110K - $750K MD Innovation Initiative $320K Tech Validation $50K Cybersecurity Investment Fund $225K Propel Baltimore Fund I $500K TEDCO’s Primary Funding Programs Tech Commercialization Fund $225K Life Science Investment Fund $225K MD Venture Fund $1M

Technology Validation Program Purpose: Commercialization of technologies from federal labs and small MD universities Who: ‘Start-up’ Companies licensing Fed. Lab technology What: Two phases of funding up to $50K per project When: 1 st of every month Program Contact: Linda Saffer

Two Phases of Funding:  Market Assessment Up to $10K Validate opportunity  Technology Assessment Up to $40K Proof-of-principle study  Market Assessment is first Team Requirement: Tech. Transfer, Business Person for Market Assessment Technology Validation Program

Technology Commercialization Fund Purpose: Fund product development to position a company for follow-on investment Who: Early-stage companies in MD meeting eligibility requirements What: $100K Investment for up to 12 month projects - $125K Follow-on Investment When: 1 st of every month Program Contact: Henry Ahn

Technology Commercialization Fund Eligibility Requirements:  For-profit with less than 16 FTE employees AND  Pre-revenue OR  Pre-institutional Investment (< $500K)

Cybersecurity Investment Fund Purpose: Fund product development to position a cybersecurity company for follow-on investment Who: Early-stage “Cybersecurity” companies What: $100K Investment for up to 12 months - $125K Follow-on Investment When: 15 th of every month Program Contact: Ron Kaese

 “Cybersecurity” - Information security and privacy as applied to connected devices  Models TCF Program  Company presentation approx. seven weeks after submission – 1 st Wednesday of 2 nd month Cybersecurity Investment Fund Fund Details

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 TCF/CIF Convertible Note Terms

Proof of ConceptProduct DesignBasic Research Research LaboratoryCorporation Prod. Launch Other Maryland Funding Programs MD Industrial Partnership $100K VLT Fund $250K

Entrepreneur Support Loaned Executives Executive Coaching CEO Roundtables Portfolio Workshops MERL Members & RBI² Reps TEDCO Staff Less competitive More competitive

 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 MD Entrepreneur Resource List

Purpose: Support TEDCO’s portfolio companies/entrepreneurs Who: Primarily, TEDCO portfolio companies What: 5 support programs When: Varies by program Program Contact: Neil Davis Portfolio Company Resources

 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

 mdPACE Program Medical device commercialization  N-STEP Program NIST Post-doc commercialization Program  Innovation Gateway Connecting entrepreneurs to resources New Initiatives

Community Entrepreneur Expo Celebrating Entrepreneurs

Where do I get more information? W W W. T E D C O. M D

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