Maryland's TEDCO Launches Tech Transfer Fund

The Maryland Technology Development Corporation (TEDCO) kicked off the new year with a new $330,000 program to support Maryland companies wishing to develop technology-based products and/or services in collaboration with Johns Hopkins University (JHU), Morgan State University (MSU) or federal laboratories in Maryland. The Maryland Technology Transfer Fund (MTTF) will award non-equity investments of up to $50,000 per project.

The program supports company technology development projects that transfer technology from JHU, MSU or a federal laboratory in Maryland to the commercial sector and the development of technology-based products and/or services for future government uses. The Fund, made possible by a grant from the Maryland Department of Business and Economic Development (DBED), is also providing $100,000 to JHU and MSU to develop innovative ways to partner with industry.

Program designers believe MTTF may serve as a feeder for other existing DBED programs, such as the Challenge Investment and Enterprise Fund programs, which provide up to $500,000 in equity.

Applications will be accepted continually and reviewed monthly by TEDCO and DBED staff. Funding recommendations will then be forwarded to a technical advisory committee for final consideration.

MTTF funds may be requested for salaries, equipment and other direct costs of technology development activities. No repayment is required unless and until the company achieves significant sales. Repayment is a multiple of the award amount that increases in time to three times the original award.

For more information, visit http://www.MarylandTEDCO.org.