Maryland Technology Enterprise Institute (Mtech)
With a $29.4 billion economic impact since 1985, 418 Maryland companies served by Mtech's programs in the past year alone and 18 entrepreneurship courses offered to students at nearly all levels, the A. James Clark School of Engineering's Maryland Technology Enterprise Institute supports the State of Maryland's technology economy by educating the next generation of technology entrepreneurs, creating successful technology ventures, and connecting Maryland companies with university resources to help them succeed.
Mtech’s total economic impact since 1985
Jobs created through Mtech's programs
Mtech Ventures company revenue generated, company acquisitions, investments and contracts by Mtech Ventures companies since 1985
|Investment, grants and contracts raised or acquired by Mtech Ventures companies since 2010|
Revenue generated by the top-performing MIPS products
University of Maryland Manufacturing Assistance Program’s economic impact on Maryland manufacturers since 2000
Enrollments in Mtech’s entrepreneurship education courses during the 2011-2012 school year
Entrepreneurship courses offered by Mtech during the 2011-2012 school year
|$345,380||Entrepreneurship scholarships supported by Mtech in academic year 2011-2012
Companies engaged by Mtech programs in 2012
|$697,500||Support for startups awarded through Mtech's business plan competitions since 2001|
Initiatives at other universities based upon the successful Hinman CEOs Program
Total companies in the Technology Advancement Program, TERP Startup Laboratory and VentureAccelerator in 2012
Blockbuster Technology Advancement Program incubator graduates, including two that sold for $1B+ and another that developed pervasive hybrid-electric drive technology
|902||Entrepreneurs have gained expert advice through Mtech's free, monthly, open Entrepreneur Office Hours and Innovation Office Hours|
With a companies with university resources to help them succeed.
|Maryland Industrial Partnerships||Revenue generated by products developed with MIPS projects since 1987||$25,248,161,346|
|Mtech Ventures||Company revenue generated, company acquisitions, investments and contracts by Mtech Ventures companies since 1985||$3,578,271,346|
|MIPS Funding||Combined MIPS and company funding, as well as in-kind and equipment contributions to MIPS projects, since 1987.||$187,233,568|
|ASPIRE Funding||A Scholars Program for Industry-Oriented Research in Engineering (ASPIRE) Program funding to support undergraduate research since 1998||$666,630|
|UMMAP||University of Maryland Manufacturing Assistance Program’s economic impact on Maryland manufacturers since 2000||$383,180,946|
|UMD $75K BPC||University of Maryland $75K Business Plan Competition prizes awarded since 2001||$697,500|
|University of Maryland Manufacturing Assistance Program||2,040|
|Maryland Industrial Partnerships (MIPS) program||3,571|
|Technology Advancement Program||2,104|
|Hinman CEOs Program (Squarespace and Lurn employees)||124|
|Total job created or retained by Mtech’s programs since 1985||7,839|
|Maryland Industrial Partnerships||35|
|Mtech Ventures: Technology Advancement Program, VentureAccelerator, and Terp Startup Lab||27|
|Entrepreneur Office Hours and Innovation Office Hours (combined)||203|
|Maryland International Incubator||10|
|Biotechnology Research and Education Program||47|
|Technology Ventures Building||13|
|University of Maryland $75K Business Plan Competition Finalists||9|
|ACC Clean Energy Challenge Finalists||10|
|University of Maryland Manufacturing Assistance Program||64|
|Total (does not include events and total competition entrants)||418|
New Statistic: In the past two years, companies on campus in Mtech Ventures' programs have generated revenue, won investments, grants, contracts and acquisitions worth $21,031,881 with assistance from the Mtech Ventures team.
|1985-2011: Company revenue generated, company acquisitions, investments and contracts by Mtech Ventures companies||$3,564,124,849|
|2012: Company revenue generated, company acquisitions, investments and contracts by current Mtech Ventures companies at the University of Maryland||$14,146,497|
|Total company revenue generated, company acquisitions, investments and contracts by Mtech Ventures companies since 1985||$3,578,271,346|
|Mtech Activity||Companies/Entrepreneurs Served|
|Entrepreneurs attending Entrepreneur Office Hours and Innovation Office Hours in 2012, with a total of 902 served since 2008.||203|
|2012 UMD Startup Boot Camp Registrants||441|
|ACC Clean Energy Challenge Entries||27|
|Companies in the Technology Advancement Program, VentureAccelerator, and Terp Startup Lab in 2012||27|
|Total entrepreneurs and companies engaged by Mtech Ventures in 2012||698|
Mtech Ventures: 2012 Highlights
OmniSpeech Gains More than $2.8 Million in Funding
OmniSpeech LLC, a company founded by Dr. Carol Espy-Wilson, a Professor in the Department of Electrical and Computer Engineering, raised almost $3 million in funding and grants in the past two years.
OmniSpeech sells call clarity software for smartphones, feature phones and radios based upon a novel speech extraction algorithm.
The company's recent funding includes $2 million in private investment in 2012, NSF Phase 1 ($135,000, 2011) and Phase 2 ($494,240, 2012) SBIR grants, a $75,000 TEDCO MTTCF seed grant, and a $135,000 Maryland Industrial Partnerships (MIPS) grant in 2011.
The company now has five full-time and two part-time employees.
OmniSpeech won the $50K SAIC-VentureAccelerator Competition in 2010, as well as $35,000 in the 2010 University of Maryland $75K Business Plan Competition.
RedOx Bought After Just Two Months in VentureAccelerator
RedOx (now Redox Power Systems), launched around the groundbreaking fuel cell research of UMD Energy Research Center Director Dr. Eric Wachsman, was purchased during the summer of 2012 after just two months in the VentureAccelerator Program. The acquisition team included university benefactor Warren Citrin, co-founder of Solipsys (acquired by Raytheon in 2003), and members of his former leadership team from Solipsys.
Redox's new leadership team invested $450,000 in the company, as well as entering into a multi-year research agreement with UMD's Energy Research Center. The company reports tremendous progress towards commercializing its technology, in conjunction with its growing portfolio of collaborators, suppliers and the Energy Research Center.
In 2007, Citrin established the $250,000 Impact Pre-Seed Fund at the University of Maryland, which offers grants, in $500 to $5,000 increments, to students in Mtech’s Hinman CEOs, Hillman Entrepreneurs, and Entrepreneurship and Innovation programs. In 2010, Citrin established the Warren Citrin Graduate Fellowships, which support four Ph.D. students interested in conducting commercially viable research in the broad area of sustainability, through a $560,000 gift.
Mtech, Dingman Center Launch Innovation Fridays
This fall, Mtech and the Dingman Center launched Innovation Fridays, a collection of signature resources now available across the entire campus for entrepreneurs and innovators.
Innovation Fridays combines the Dingman Center’s successful Pitch Dingman program with Mtech's broad-reaching Innovation Office Hours and Entrepreneur Office Hours. Both programs will be available from 11 a.m.-1p.m. every Friday throughout the year. A full schedule of locations is available at www.innovationfridays.umd.edu.
University of Maryland, Mtech Host $100K ACC Clean Energy Challenge
The University of Maryland's Maryland Technology Enterprise Institute (Mtech) was selected as the principal lead for the $100K ACC Clean Energy Challenge, a new competition encouraging students throughout the southeastern United States to develop successful business plans and create new clean energy companies.
As part of the Obama Administration's effort to support and empower the next generation of American clean energy entrepreneurs, the Department of Energy's Office of Energy Efficiency and Renewable Energy (EERE) awarded $360,000 for the ACC Clean Energy Challenge and a total of $2 million to the ACC and five additional regions in the U.S. as part of its inaugural nationwide network of student-focused clean energy business plan competitions over the next three years.
The $100K ACC Clean Energy Challenge finals were held at the University of Maryland on April 25, 2012.
Mesdi Systems Inc., a company founded by a team of six students from the University of Central Florida (UCF) developing precision electrospray modules to accelerate and improve the production of lithium-ion battery components, won the first annual ACC Clean Energy Challenge and the Department of Energy’s $100,000 grand prize.
Winning second place and $15,000 was the University of Maryland team SafeLiCell, which is developing a noncombustible, flexible, polymer electrolyte material called Lithium Flex that would replace the highly flammable liquid electrolyte and bulky battery packaging found in most lithium-ion batteries.
On June 13, winners from each region competed in the Department of Energy's National Clean Energy Business Plan Competition, held in Washington, D.C.
ECE/Mtech Team Graduates from NSF's Innovation-Corps
The University of Maryland graduated its first team from the National Science Foundation (NSF) Innovation-Corps (I-Corps) startup accelerator program. UMD's I-Corps team consisted of Shuvra S. Bhattacharyya, professor in the Department of Electrical and Computer Engineering (ECE) and the Institute for Advanced Computer Studies (UMIACS); ECE Assistant Research Scientist Chung-Ching Shen; and Dean Chang, director of Mtech's venture programs.
Through two months of intensive exploratory interactions with close to 100 customers from industry, interleaved with videoconference meetings with the I-Corps instructors, the SET Team members collaborated to develop a commercialization strategy for technology that has been developed over the past years in the Maryland DSPCAD Research Group, which is jointly affiliated with ECE and UMIACS.
Mtech Ventures companies at the end of 2012 included:
2012 TAP graduates: AccuStrata, Goozex (acquired for $1.5 million)
With a companies with university resources to help them succeed.
|Maryland Industrial Partnerships (MIPS)||35|
|Biotechnology Research and Education Program (BREP)||47|
|University of Maryland Manufacturing Assistance Program (UMMAP)||64|
|Tech Ventures Building||12|
|Maryland International Incubator||10|
|MIPS cash contributed||$39,560,209|
|Company cash contributed||$22,314,282|
|Company in-kind and equipment contributions||$108,802,896|
|Total value of MIPS projects since 1987||$191,191,972|
|Leverage of MIPS funding to company contributions||4.2:1|
MIPS Statistical Highlights (based upon a 2012 study by Richard Clinch, from the The Jacob France Institute, University of Baltimore)
MIPS Products Generate $3 Billion in Sales, Support 3K+ Jobs in One Year
MIPS products generated over $3 billion in product sales and supported 3,615 ongoing jobs in Maryland in calendar 2011 alone. When the multiplier-based economic impacts associated with this activity are included, the economic impacts associated with the production and sale of these commercialized technologies total $4.8 billion in economic activity in Maryland, supporting 15,191 jobs earning $1.1 billion in labor income during 2011.
MIPS Pays for its Lifetime of Funding in One Year
The economic impacts associated with MIPS-supported technology generated an estimated $87.3 million in state tax revenues in the year 2011 alone. These estimated one-year 2011 state tax revenues significantly exceed the $37 million lifetime costs of the MIPS program. An estimated $70.6 million in local government revenues was also generated by MIPS supported technologies in 2011.
MIPS Projects Attract $884.2 Million in Additional Funding
MIPS lifetime spending of $37.0 million assisted in catalyzing the development and commercialization of technologies that have attracted $884.2 million in additional grant, debt, equity, and venture capital funding into Maryland.
MIPS-Supported Companies Acquired from More than $18 Billion
Several MIPS-supported companies have been acquired over the past few years and the acquisition cost of these companies has totaled over $18.0 billion dollars.
Mtech’s Biotechnology Research and Education Program (BREP) Clients (non-University of Maryland), 2012: 47 Total
BREP Workshops, 2012
Technology Workshops (open workshops) with attendees from a variety of institutions including: Life Technologies Corp., Alkermes, Human Genome Sciences, EMD Serono Research Institute, Pfizer, Terumo BCT, Inc., BioMarin Pharmaceutical Inc., MIT, Harvard, University of Kentucky and University of Michigan.
Cell Culture Technology Workshop, March 2012
Fermentation Biotechnology Workshop, June 2012
Downstream Workshop, June 2012
University of Maryland Manufacturing Assistance Program Companies Served, 2012: 64
Tech Ventures Building Companies: 2012
|Company||Country Of Origin||Industry Sector|
|Shanghai Dycent Biotech||China||Biotechnology|
|Beijing Glodon||China||Construction Software|
|Parasat||Kazakhstan||R&D Holding Company|
|Shanxi Clear Spring||China||Environmental|
|Romania Group for Investments and Consultancy||Romania||Investment Group|
|Nanjing SignalWay Antibody||China||Biotechnology|
|Canon US Life Science||Japan||Biotechnology|
|Golden Island Medical Technology||China||Medical Technology|
|Shanghai Fahe Company||China||Construction Technology|
Mtech Partnerships: 2012 Highlights
MIPS Celebrates 25 Years
Mtech's Maryland Industrial Partnerships (MIPS) program celebrated 25 years of impact in Maryland on November 7 at a gala held at the university's Riggs Alumni Center.
Awards presented included (full list here):
MIPS Greatest Economic Impact Awards
Hughes Network Systems
HughesNet® is the largest-selling product ever developed with the help of the MIPS program. Dr. John Baras, Lockheed Martin Chair in Systems Engineering and Professor, Department of Electrical and Computer Engineering and Institute for Systems Research at the University of Maryland created the algorithms by which the Internet is delivered over satellite worldwide.
PRINCIPAL INVESTIGATOR WITH GREATEST IMPACT
Dr. John Baras, Lockheed Martin Chair in Systems Engineering and Professor, Department of Electrical and Computer Engineering and Institute for Systems Research at the University of Maryland, for development of HughesNet®.
COMPANIES WITH SALES IN EXCESS OF $1B
Martek and Medimmune: MIPS projects assisted in the development of two additional products that have sales in excess of $1B: Martek’s DHA and ARA essential nutritional oils, and MedImmune’s Synagis®.
FASTEST TO MARKET
Awarded to CSA Medical, whose product achieved FDA approval as a result of the MIPS project with Dr. Bruce Greenwald, Professor of Medicine at the University of Maryland, Baltimore.
2012 Recent MIPS Company News (with links)
Motorola Solutions Invests in TRX Systems Inc. as part of a nearly $2 million Series A investment round that included New Dominion Angels, the Maryland Department of Economic Development and inside investors (link)
Imagilin Technology enters into an exclusive U.S. distribution agreement with Bioniche Life Sciences (link)
Telcare raises $25.5 million from Sequoia Capital and the Qualcomm Life Fund (link)
Fyodor Biotechnologies expands within the University of Maryland BioPark (link)
U. Va. adopts emergency desktop alert system developed by Alertus (link)
BioFactura awarded nearly $2 million in grants for biopharmaceutical platform development (link)
Beyond Meat (formerly called J Green Foods) featured on NPR for its MIPS-supported product (link)
TRX Systems wins SBA Tibbetts Award for Excellence in Government R&D (link)
Earth Networks uses neighborhood-level weather data for home energy efficiency/demand response programs with UMD (link)
WSJ's Walt Mossberg features Telcare's world-first cellular-enabled blood glucose meter for diabetes (link)
Cell Culture Technology Workshop Fills
Mtech's Cell Culture Technology Workshop, new in 2012 and hosted by Mtech's Biotechnology Research and Education Program, sold out with 13 participants from a range of companies and institutions, including Life Technologies Corp., Alkermes, Human Genome Sciences, MIT and Harvard. The session, held March 26-28, featured hands-on instruction with various cell culture expression systems and introduced attendees with the techniques, methodologies, principles, and applications of anchorage-dependent and suspension-adapted cell lines.
The workshop laboratory sessions took place in a newly operational learning facility located within the University of Maryland's Biopharmaceutical Advancement Facility on the Institute of Bioscience and Biotechnology Research (IBBR)-Shady Grove campus.
2011-212 Academic Year Statistics
18 Mtech entrepreneurship courses offered in academic year 2011-2012 for graduate, undergraduate, high school and middle school students
1,003 enrollments in Mtech's entrepreneurship courses in academic year 2011-2012
$345,380 entrepreneurship scholarships supported by Mtech in academic year 2011-2012
24 initiatives at other universities based upon the Hinman CEOs Program
82 students in the Hinman CEOs Program [34 graduated in academic year 2011-2012]
45 students in the Hillman Entrepreneurs Program (15 total graduated in 2012)
189 students in the Entrepreneurship and Innovation Program [63 graduated in 2012]
132 students enrolled in the Minor in Technology Entrepreneurship
The new Minor in Technology Entrepreneurship exceeds 100 enrollments.
Mtech Creates Entrepreneurship Course for UMD's Coursera Portfolio
Mtech's Dr. James V. Green developed a course for the University of Maryland's Coursera portfolio of classes, titled "Developing Innovative Ideas for New Companies," with over 65,000 enrollments. The six-week course, commencing January 2013, assists aspiring entrepreneurs in developing great ideas into great companies. Using proven content, methods, and models for new venture opportunity assessment and analysis, students will learn how to use a business model approach to analyze each part of a company; and a customer development orientation to see if anyone really wants the product. Value propositions, customer segments, strategic alliances, and business modeling are core elements taught in the course. The initial steps to creating a business plan, and raising financial capital to launch the firm, are examined as well.
New Grant to Support Program and Course Development
The Hinman CEOs Program was awarded a $44,100 grant to support developing and delivering a marketing high-technology products and innovations course. The grant is focused on equipment, materials, supplies, and prototyping of students’ new venture concepts. The course launched fall 2012.
New course - ENES465: Entrepreneurial Design Thinking
This new course explores the use of design thinking as an approach to developing customer-centered solutions to problems and fostering sustained innovation within an organization. Through interactive lectures, discussions, and hands-on, team-based activities, students learn design thinking strategies and apply them to finding innovative product- or service-based solutions to contemporary issues.
New course - ENES143: Communication Essentials for Entrepreneurs
In this new course, students learn the processes and skills needed to give effective business presentations related to start-up ventures. Focus on how to research topics and companies; organize material based on speaking goals; analyze audience groups to meet speaking expectations; prepare informative and compelling presentation slides; deliver speeches professionally and effectively, and actively listen and provide speaker feedback to fellow students.
Inaugural Silicon Valley Trip
In May 2012, 14 Hinman CEOs student spent seven days in the San Francisco Bay Area visiting leading startups, venture capitalists, and innovative technology firms, including Facebook, Google, Cisco, Electronic Arts, Pixar, Amazon Lab 126, Zoosk, Mayfield Ventures, Accelops, wePay, Greylock, and Yammer. Hinman CEOs students and alumni were hosted one evening for dinner at Brian Hinman’s home in Los Gatos. The trip was co-led with Mark Wellman, Director of the Business, Society, and the Economy Program in College Park Scholars.
New Internship Program
Mtech established a Hillman internship program with the Maryland Small Business Development Center and the Maryland Procurement Technical Assistance Program. Five Hillman students participated.
Mtech hosts statewide Maryland High School Business Plan Competition
Mtech hosted the finals for the first Maryland High School Business Plan Competition on Saturday, June 9, 2012. Five teams of finalists from four different counties throughout the state, who passed through two rounds of elimination and online votes, presented their business plans to a panel of expert judges and a public audience. Finalists competed for $10,000 in cash and prizes. Awards included scholarships to the Entrepreneurship Essentials Online Program for high school students, which enhances students' entrepreneurship skills for launching an innovative venture, starting a new career, and diversifying their education.
Mtech Contributes to #14 UMD Ranking by The Princeton Review and Entrepreneur Magazine, #12 in U.S. News & World Reports, Both for Undergraduate Entrepreneurship Programs
Mtech contributed to The Princeton Review and Entrepreneur Magazine ranking of the University of Maryland as #14 among the “Top Entrepreneur Programs” for undergraduates in 2013, and the #12 ranking of the University of Maryland in entrepreneurship at the undergraduate level by U.S. News & World Reports.
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