The Maryland Industrial Partnerships (MIPS) program and the Maryland Technology Development Corporation (TEDCO) will jointly host a free briefing about how faculty and local businesses can participate in their funding programs at Frostburg State University (FSU) on Wednesday, September 11, beginning at 2 p.m. in the Harold J. Cordts Physical Education Center, Hall of Fame Room.
MIPS provides funding—matched by participating companies—for university-based research projects that help companies develop new products. MIPS funding goes directly to faculty for research that helps the companies commercialize a product. With MIPS matching funds, companies can leverage the facilities, resources and expertise within Maryland’s public universities to create new products and opportunities. In the 32 years since the program started, 444 faculty researchers have worked with more than 600 Maryland companies to help develop new products. MIPS-supported products have enabled Maryland companies to create more than 7,150 new, high-paying, high-tech jobs throughout the state.
MIPS Associate Director Ronnie Gist will give a presentation, followed by a question-and-answer period and one-on-one meetings, if desired.
TEDCO is the go-to source for entrepreneurial support and guidance for start-ups and early-stage companies engaged in bringing innovative ideas to the market. For more than 21 years, the organization has provided funding, mentoring and networking opportunities to support Maryland’s innovation ecosystem. While founded by the Maryland General Assembly, TEDCO is an independent entity that makes seed/early-stage investments as well as series A/B investments. It is frequently ranked as one of the most active seed/early-stage investors in the nation. From bringing research created in Maryland’s educational institutions and federal laboratories into the commercial marketplace to supporting emerging technologies, TEDCO plays a key role in the state’s startup ecosystem.
TEDCO Manager McKeever “Mac” Conwell will give a presentation on the funding programs available to Maryland entrepreneurs.
MIPS has supported research projects with more than 600 different Maryland companies since 1987. Previous recent MIPS-supported projects with FSU have included companies such as McHenry-based Silicon Travel LLC, Frederick-based vCalc LLC and Cumberland-based Berkeley Springs Instruments LLC.
Historically, products supported by MIPS projects include Martek Biosciences' life's DHAÔ, which supports brain, eye and heart health from infancy to adulthood and is licensed to U.S. infant formula manufacturers, and Hughes Network Systems' HughesNet™, which enables high-speed internet via satellite. MedImmune Inc.'s Synagis®, a multi-billion-dollar drug that prevents a serious respiratory disease in infants, and Black & Decker's Bullet® Speed Tip Masonry Drill Bit, which drills six times more holes than conventional drill bits, were also supported by MIPS projects. These products have collectively generated more than $40 billion in revenue and led to the creation of thousands of jobs in Maryland.
Benefits of MIPS funding for faculty include:
Benefits of MIPS funding for Maryland companies include:
MIPS funds an average of 30 projects per year. Applications are due May 1 and October 15 each year.
Research supported by MIPS may broadly be in engineering, computer science, physical, environmental and life sciences. MIPS also supports projects designed to help a company plan and develop industrial training programs for its employees.
For more information about the MIPS-TEDCO briefing, contact Sara Wilhelm, Director of the Office of Sponsored Programs at Frostburg State University, by phone at (301) 687-7054, or by e-mail at email@example.com.
About the Maryland Industrial Partnerships Program (MIPS) (www.mips.umd.edu)
The Maryland Industrial Partnerships Program, an initiative of the A. James Clark School of Engineering’s Maryland Technology Enterprise Institute (Mtech), brings university innovation to the commercial sector by supporting university-based research projects to help Maryland companies develop technology-based products.
Wednesday, September 11 at 2:00pm
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