20 Years of TEDCO. TEDCO s Core Purpose and Mission are Relevant & Critical. New Business Creation is the foundation of economic growth and vitality.

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Clare Stevens
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2 20 Years of TEDCO TEDCO s Core Purpose and Mission are Relevant & Critical TEDCO VISION 2 New Business Creation is the foundation of economic growth and vitality. 2.0 Needed to Ensure Sustainability

3 Leading Innovation to Market Enhance economic development growth through the fostering of an entrepreneurial and innovation ecosystem. Discover, invest in, and help build great Maryland based technology companies.

4 Champion a Regional Culture Foster Inclusive Entrepreneurship and Innovation Where innovation, entrepreneurship and the creation of new businesses will thrive and grow. Be the connective tissue to all available assets Build Great Companies

TECH TRANSFER BUS DEV SERVICES MENTORING

research lab to the commercial sector to

and cures available to the public Supporting

5 TECH TRANSFER BUS DEV SERVICES MENTORING CONNECTIONS Moving innovations from the research lab to the commercial sector to create new ventures and to make new products and cures available to the public Supporting entrepreneurs with the the creation and growth of their ventures through the availability of valuable information and resources Providing human expertise to support entrepreneurs at all stages of their venture development and throughout all regions of the State. Fostering an interconnected business community in Maryland by bringing together entrepreneurs, start-ups, and the greater corporate community. NAVAIR Gateway Concierge 5

6 Gateway Concierge Investment Entrepreneur Resources Entrepreneurs Assessment Tools Gateway Concierge Educational Services Incubator Support Advisory Services 6 Pre-seed Opportunity Funds 6

7 7

8 Assessment Report Stage Team Problem Product Market Business Model & Scale Investment Opportunity/ Exit

9 Gateway Services by Level Stage Assessment Tools On-line Resources Stage-Gate Pitch Session Office Hours Consulting Services Roundtable Groups Exec. Advisors mdpace Loaned Executives RBII Program MBPF Pre-Seed Opp. Fund RBII Project RBII Fund

10 Educational Services Assessment Tools TEDCO Assessment Other Assessments Online Resources PitchCreator LeanStack Udacity Talks on video Stage- Gate Pitch Sessions Staff & Mentors Monthly meeting 30 min pitch/q&a Immediate feedback Roundtables Paid facilitators By company stage or topic area By vertical By affinity group LEVEL 1 LEVEL 1 LEVEL 1 LEVEL 3

11 Advisory Services Office Hours Consulting Services Executive Advisors Loaned Executives Offered on-site or off-site Supply other OH programs at incubators Specific areas of expertise: SBIR/STTR SAAS Pricing Bootstrapping Selling to strategics Paid advisors Carefully selected Short engagement Simple strategic challenge Paid advisors Carefully selected Long engagement Complex milestone LEVEL 2 LEVEL 2 LEVEL 3 LEVEL 4

12 Advisory Services Rural Business Innovation Initiative Mentor Network Eligible companies in the rural parts of Maryland mdpace Medical device executives to help companies get a 510(k) clearance LEVEL 1 LEVEL 3

13 Entrepreneur Resources MarketSearch Frost & Sullivan Global Data BioInformant 3 Locations Service Packages AWS Activate MS Biz Spark Plus Discounted Services Resource Links Incubators MIPS Angel Groups Tech Transfer Offices Federal Labs LEVEL 1 LEVEL 2 LEVEL 1

14 Rural Business Innovation Initiative 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

Incubation Support Services TEDCO will refer entrepreneurs to the incubators for specific services (which have been requested by entrepreneurs), including: Orientation for entrepreneurs Pitch

15 Incubation Support Services TEDCO will refer entrepreneurs to the incubators for specific services (which have been requested by entrepreneurs), including: Orientation for entrepreneurs Pitch preparation Funding resources/fundraising expertise Union VC Advisor network/list serve Office Hours/mentoring Visa/Immigration services Speaker Series On-call assistance/advice Intern resources/links to university programs $750K given to 6 TEDCO Incubation Challenge Finalists 15

Pre-seed Opportunity Fund Pre-seed Opportunity Advisory Board Includes: African Americans, Hispanic Americans, Asian Pacific Americans, Subcontinent Asian Americans, Native Americans, Women,

16 Pre-seed Opportunity Fund Pre-seed Opportunity Advisory Board Includes: African Americans, Hispanic Americans, Asian Pacific Americans, Subcontinent Asian Americans, Native Americans, Women, Disabled, Veterans, Rural representatives & Others TEDCO Board Members Targeted Marketing To promote inclusiveness among all disadvantaged entrepreneurs including minority groups. Pre-seed Opportunity Fund Open to disadvantaged entrepreneurs & entrepreneurs with limited access to friends and family funding. Ten-twenty investment deals made per year. Advisory board will help to ensure that marketing and promotional efforts target entrepreneurs in all communities including minority and rural businesses

17 InnovationConnect Customer/ Partner Leads Innovative Companies Large Company Recruiting Innovation Connect Investment Team Northrop Grumman Talos/Cisco Thales USA WSSC Lifebridge Health McCormick Qiagen Lockheed Martin 17 17

Federal Funding Programs National Institute of Standards and

7M Spin-in/spin-out tech scouting and tech incubator U.S.

18 Federal Funding Programs National Institute of Standards and Technology $2.8M Entrepreneurial development program for graduating post docs U.S. PAX River $2.7M Spin-in/spin-out tech scouting and tech incubator U.S. Department of Commerce $500K Assist entrepreneurs to navigate the FDA medical device commercialization process, resulting in 510(k) cleared technology

19 Multiple Pools of Capital LEGACY MVF $110M evergreen fund $36M cash on balance sheet $500K - $1.5M initial investment 2-3x for follow-on Select investments: OPPORTUNITIES FUND I (VINTAGE 2017) $25M traditional 10-year fund $21.3M cash available for investment $500K - $1.5M initial investment 2-3x for follow-on TEDCO SEED FUND $6M annual fund $100K - $500K initial investments Select investments: MSCRF/MII $8.2M annual fund $5M annual fund Select investments: Select investments: Representative partners:

20 Funding Programs University Corporation Minority Business Pre-seed Fund Seed Investment Funds Gap Fund Maryland Venture Fund Maryland Innovation Initiative Maryland Stem Cell Research Fund (MSCRF) Grant Investment Grants Pre- Seed/3Fs Seed Stage Series Seed Series A Translational Research Proof-of-Principle Demonstration Tech./Mkt. Validation Customer Acquisition Scale-up/ Growth

22 Leading Innovation to Market Enhance economic development growth through the fostering of an entrepreneurial and innovation ecosystem. Discover, invest in, and help build great Maryland based technology companies.

Innovation and Entrepreneurship. Thomas O Neal Associate Vice President Office of Research and Commercialization University of Central Florida

Innovation and Entrepreneurship Thomas O Neal Associate Vice President Office of Research and Commercialization University of Central Florida About UCF Second largest university in the nation 60,000 students