Maryland Technology Transfer and Commercialization Fund

The goal of the Maryland Technology Transfer and Commercialization Fund (MTTCF) is to provide funding for Maryland companies who wish to develop technology-based products and/or services in collaboration with the Universities and/or Federal Laboratories in Maryland. To be eligible for the program, a company must be collaborating with a Federal Laboratory or university in Maryland and be located or an affiliate of an incubator company in the state. In addition the company applying must meet the following criteria: fewer than 16 employees OR the company is a university spin-off in business less than 5 years AND Pre-revenue OR venture investments under $500K. If the company is in an incubator or an affiliate thereof it must be taking advantage of the business services offered by that incubator. Additionally, companies must have more than 50% of their employees present in the state of Maryland.

The focus of the program is support of company technology development projects that transfer technology to the commercial sector from any university or federal laboratory in Maryland or technology companies in the incubator that have desire to move technology projects forward and are taking advantage of incubator business services.   A secondary focus is on development of technology-based products and/or services for future government procurements.

Program Benefits:

• Funds up to $75,000 are available to defray a company’s direct cost of developing early stage technology.
• Program may be used to perform early stage feasibility testing on technology-based products/services to assist in obtaining financing for further development.
• No repayment is required unless and until the company receives revenue from sales.
• Repayment is capped at 2X the original award at the end of five years. A company can repay early at the multiple current for the year in which buyout occurs.
  • Click here for the MTTCF Investment Agreement - *subject to change (PDF file)
  • Click here for the MTTCF Application Guidelines document (PDF file)
  • Stages of Commercialization (PDF file)

Proposal Review
The entire review process will be completed within 60 days, when a proposal is submitted by the first of the month. Proposals will be reviewed by a review committee with members from TEDCO, DBED and/or members of Johnson & Johnson COSAT team and selected venture capital providers:

• Proposal will be reviewed according to Application Guidelines.
• Review may include confidential independent assessments by professional business and technical consultants.
• The executive director will review and decide on all funding recommendations.
  Awards will be made on a continuing basis subject to the availability of funds.

Non-Equity Investments
MTTCF awards are non-equity investments up to $75,000 per award. Success in raising downstream funding is a key metric of this program.

Beginning five quarters after the end of the funding period for the project, the company is required to pay TEDCO, annually, the lesser of either 3% of revenue or 40% of the award amount over the period of five years. The maximum repayment is 2x the award. However, a company may repay the award in less than five years at a lower repayment amount.

The program does not involve ownership by TEDCO of equity or intellectual property rights nor does TEDCO have rights to control any aspect of commercialization of the subject technology.

For more information
Contact: Henry Ahn, 410-715-4165, hahn@marylandtedco.org