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Funding for New Ventures

Funding Programs for Early-Stage Development Projects

A variety of funding programs are available to fuel the commercial potential of our technologies. See a sample list of programs below and contact our Licensing Teams for more guidance.

Research & Pre-Commercial

Maryland Innovation Initiative

Maryland Innovation Initiative

Overview

A $5-million grant program to commercialize technologies developed at Maryland’s research universities.

The Maryland Innovation Initiative (MII) is a grant program created to advance the commercialization of near-term, pre-commercial technologies through technology validation, market assessment, and the creation of startup companies in Maryland. Collaborative projects between UMB and University of Maryland College Park, UMBC, Johns Hopkins University, and Morgan State University are strongly encouraged and are eligible for 25% more funding. Contact our Site Miners for help identifying partners and planning proposals.

Funding Details

Phase I: Pre-Commercial Research ($100,000 - $125,000)
Proof-of-principle and other studies on intellectual property that demonstrate the utility of a technology for a specific commercial application.

Phase II:  Commercialization Planning ($15,000-$20,000)
A commercial opportunity assessment for a technology and development of a preliminary commercialization or business plan.

Phase III: Early-Stage Development ($100,000 - $125,000)
Corporate product development in preparation for a product launch or the advancement of a product technology to achieve a commercial milestone that significantly increases the company’s value and better positions the company for follow-on investment from angels or venture capitalists. Phase III awards are available exclusively to University start-ups that have executed a license agreement with one or more participating universities for a technology within twelve (12) months of the submission of a program application.

Eligibility and Application Process

All proposals must be directed toward the commercialization of a technology or group of technologies: (i) disclosed to OTT or OTC; (ii) owned by UMB or UMCP; and (iii) for which there exists appropriate intellectual property protection. For those interested in applying for the MII, please contact your home institution’s Technology Transfer Office:

For additional information on the MII, please  click here .

The Maryland Industrial Partnerships (MIPS) Program

The Maryland Industrial Partnerships (MIPS) Programs

The Maryland Industrial Partnerships (MIPS) program accelerates the commercialization of technology in Maryland by jointly funding collaborative R&D projects between companies and University System of Maryland faculty.

MIPS provides funding, matched by participating companies, for university-based research projects that help companies develop new products. MIPS projects help companies find solutions to technical challenges, as well as develop products, processes or training materials. MIPS projects are conducted by university faculty and graduate students in conjunction with company researchers.

With more than 400 Maryland companies participating in project awards since 1987, worth over $180 million—MIPS projects create results. MIPS-supported products have generated more than $25.2 billion in sales, added jobs to the region, and infused state-of-the-art technology into the global marketplace.

Learn more.

Proof of Concept

Maryland Innovation Initiative

Maryland Innovation Initiative

To date, UMCP and UMB startups have won 45 Maryland Innovation Initiative (Mii) awards totaling $4.5 million.  Five of these awards have been for joint projects between the two Universities. One of the award winners, Harpoon Medical, just announced that it has raised $3.5 million in Series A financing to develop a device that could transform surgery to repair heart valves.

Overview

A $5-million grant program to commercialize technologies developed at Maryland’s research universities.

The Maryland Innovation Initiative (MII) is a grant program created to advance the commercialization of near-term, pre-commercial technologies through technology validation, market assessment, and the creation of startup companies in Maryland. Collaborative projects between UMB and University of Maryland College Park, UMBC, Johns Hopkins University, and Morgan State University are strongly encouraged and are eligible for 25% more funding. Contact our Site Miners for help identifying partners and planning proposals.

Funding Details

Phase I: Pre-Commercial Research ($100,000 - $125,000)
Proof-of-principle and other studies on intellectual property that demonstrate the utility of a technology for a specific commercial application.

Phase II:  Commercialization Planning ($15,000-$20,000)
A commercial opportunity assessment for a technology and development of a preliminary commercialization or business plan.

Phase III: Early-Stage Development ($100,000 - $125,000)
Corporate product development in preparation for a product launch or the advancement of a product technology to achieve a commercial milestone that significantly increases the company’s value and better positions the company for follow-on investment from angels or venture capitalists. Phase III awards are available exclusively to University start-ups that have executed a license agreement with one or more participating universities for a technology within twelve (12) months of the submission of a program application.

Eligibility and Application Process

All proposals must be directed toward the commercialization of a technology or group of technologies: (i) disclosed to OTT or OTC; (ii) owned by UMB or UMCP; and (iii) for which there exists appropriate intellectual property protection. For those interested in applying for the MII, please contact your home institution’s Technology Transfer Office:

For additional information on the MII, please  click here .

UM Ventures Seed Grant Program

SBIR / STTR

The Small Business Innovation Research (SBIR) program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has the potential for commercialization. Through a competitive awards-based program, SBIR enables small businesses to explore their technological potential and provides the incentive to profit from its commercialization. By including qualified small businesses in the nation's R&D arena, high-tech innovation is stimulated and the United States gains entrepreneurial spirit as it meets its specific research and development needs... Learn More

Small Business Technology Transfer (STTR) is another program that expands funding opportunities in the federal innovation research and development (R&D) arena. Central to the program is expansion of the public/private sector partnership to include the joint venture opportunities for small businesses and nonprofit research institutions. The unique feature of the STTR program is the requirement for the small business to formally collaborate with a research institution in Phase I and Phase II. STTR's most important role is to bridge the gap between performance of basic science and commercialization of resulting innovations.... Learn More

Product Development

Maryland Innovation Initiative

Maryland Innovation Initiative

To date, UMCP and UMB startups have won 45 Maryland Innovation Initiative (Mii) awards totaling $4.5 million.  Five of these awards have been for joint projects between the two Universities. One of the award winners, Harpoon Medical, just announced that it has raised $3.5 million in Series A financing to develop a device that could transform surgery to repair heart valves.

Overview

A $5-million grant program to commercialize technologies developed at Maryland’s research universities.

The Maryland Innovation Initiative (MII) is a grant program created to advance the commercialization of near-term, pre-commercial technologies through technology validation, market assessment, and the creation of startup companies in Maryland. Collaborative projects between UMB and University of Maryland College Park, UMBC, Johns Hopkins University, and Morgan State University are strongly encouraged and are eligible for 25% more funding. Contact our Site Miners for help identifying partners and planning proposals.

Funding Details

Phase I: Pre-Commercial Research ($100,000 - $125,000)
Proof-of-principle and other studies on intellectual property that demonstrate the utility of a technology for a specific commercial application.

Phase II:  Commercialization Planning ($15,000-$20,000)
A commercial opportunity assessment for a technology and development of a preliminary commercialization or business plan.

Phase III: Early-Stage Development ($100,000 - $125,000)
Corporate product development in preparation for a product launch or the advancement of a product technology to achieve a commercial milestone that significantly increases the company’s value and better positions the company for follow-on investment from angels or venture capitalists. Phase III awards are available exclusively to University start-ups that have executed a license agreement with one or more participating universities for a technology within twelve (12) months of the submission of a program application.

Eligibility and Application Process

All proposals must be directed toward the commercialization of a technology or group of technologies: (i) disclosed to OTT or OTC; (ii) owned by UMB or UMCP; and (iii) for which there exists appropriate intellectual property protection. For those interested in applying for the MII, please contact your home institution’s Technology Transfer Office:

For additional information on the MII, please  click here .

The Maryland Industrial Partnerships (MIPS) Program

The Maryland Industrial Partnerships (MIPS) Programs

The Maryland Industrial Partnerships (MIPS) program accelerates the commercialization of technology in Maryland by jointly funding collaborative R&D projects between companies and University System of Maryland faculty.

MIPS provides funding, matched by participating companies, for university-based research projects that help companies develop new products. MIPS projects help companies find solutions to technical challenges, as well as develop products, processes or training materials. MIPS projects are conducted by university faculty and graduate students in conjunction with company researchers.

With more than 400 Maryland companies participating in project awards since 1987, worth over $180 million—MIPS projects create results. MIPS-supported products have generated more than $25.2 billion in sales, added jobs to the region, and infused state-of-the-art technology into the global marketplace.

Learn more.

BioMaryland

The BioMaryland Center annually awards millions of dollars ($50,000-200,000 per company) through its Biotechnology Development program to fund a limited number of life sciences projects which significantly move research closer to commercialization. Within Maryland Department of Business and Economic Development , two other popular programs, the Biotechnology Investor Incentive Tax Credit (BIITC) and the Maryland Venture Fund also are offered.

Read more.

SBIR / STTR

The Small Business Innovation Research (SBIR) program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has the potential for commercialization. Through a competitive awards-based program, SBIR enables small businesses to explore their technological potential and provides the incentive to profit from its commercialization. By including qualified small businesses in the nation's R&D arena, high-tech innovation is stimulated and the United States gains entrepreneurial spirit as it meets its specific research and development needs... Learn More

Small Business Technology Transfer (STTR) is another program that expands funding opportunities in the federal innovation research and development (R&D) arena. Central to the program is expansion of the public/private sector partnership to include the joint venture opportunities for small businesses and nonprofit research institutions. The unique feature of the STTR program is the requirement for the small business to formally collaborate with a research institution in Phase I and Phase II. STTR's most important role is to bridge the gap between performance of basic science and commercialization of resulting innovations.... Learn More

iCorps / MTECH

Equity, Seed and Venture Capital

Maryland Momentum Fund

In an effort to increase commercialization of its leading-edge research and support the growth of promising companies, the University System of Maryland (USM) is launching a new $25 million early-stage investment fund, the Maryland Momentum Fund. The fund is focused on filling gaps in the funding continuum to propel USM's most promising and innovative ideas into the marketplace.

Download the PDF.

Equity Programs

Click here to contact us on the Equity Programs.

Invest Maryland

Invest Maryland

An $84-million State of Maryland venture capital program that is investing $56 million in established venture capital companies; $21 million directly in Maryland-based technology companies, particularly University-based start-up companies; and $7 million to expand business ownership by socially or economically disadvantaged entrepreneurs.

Dingman Angels

Maryland Venture Fund

BioHealth Innovation