This award is to the University of Maryland Baltimore County to support the activity described below for 36 months. The proposal was submitted in response to the Partnerships for Innovation Program Solicitation (NSF-04556).
Partners The partners include University of Maryland Baltimore County (Lead Institution), Johns Hopkins University, Towson University, University of Maryland, Baltimore, Technology Commercialization Group, Office of Research and Development. University of Maryland Biotechnology Institute, University of Maryland, College Park, University of Maryland, School of Law, American Express Tax & Business, Anthem Capital, BioPlan Associates, Constellation Energy Group, Darrah Tax Advisory Services, Eager Street Group, Grant Thornton, Legg Mason Wood Walker, MGH, New Markets Growth Fund, Venable, Baejter & Howard, and Maryland Technology Development Corporation (TEDCO),
The primary objectives are: to create a systematic model for increasing the commercialization of technology innovations from universities by training women entrepreneurs to create technology-based, start-up companies. To achieve this goal, the ACTiVATE Program will have the following specific objectives: 1. select 60 candidate technologies from Maryland's research universities and conduct an opportunity analysis on 45 of these candidates; 2. develop a customized training plan for women entrepreneurs that is transferable and adoptable to other under-represented groups; 3. validate the training program by introducing ninety mid-career women to the basics of entrepreneurship; 4. develop 15-24 business plans for candidate technology commercialization as part of the training program; 5. create 6 to 9 new women-run companies during the Program's first three years; 6. create sufficient wealth in the start-ups to sustain the program after the initial NSF-funded period.
Potential Economic Impact The ACTiVATE Program will create wealth for entrepreneurs, universities, the inventors of technology, and ultimately the State of Maryland. Entrepreneurs have the potential to increase their net worth through an equity interest in a growing company. Universities will receive consideration for a license to their technologies. The consideration, which may be in the form of equity, fees, and royalties, will be shared with the technologies inventors through each universities royalty distribution policy. Finally, the State of Maryland will benefit from the creation of new companies in the state through new jobs that will be created and increases in corporate tax revenues.
The intellectual merit of the project will result from the development of a technology commercialization model driven by an efficient entrepreneurial training program will be a customized experience for women, a traditionally under-represented group. The Program will extend to significant numbers of women an awareness of, and information about, entrepreneurship opportunities in technology fields. This unique and innovative program is grounded in both research and experience in technology entrepreneurship and the unique needs of women as entrepreneurs. The training will take a learn-by-doing approach that can be disseminated to, and replicated at, other institutions and for other under-represented groups. The ACTiVATE Program will be the only applied entrepreneurial training program in the region focused on meeting the special needs of women entrepreneurs.
The broader impacts of the activity concentrate on providing a model for commercializing innovations at universities and federal labs that can be used at other institutions across the country. The formation of new ventures will create wealth, build the regional economy, and provide new products that will improve the national well-being. At the same time, the Program will broaden the awareness and knowledge of women to encourage their development as entrepreneurs, and the number of women-run technology start-ups in Maryland will be significantly increased, thereby creating opportunities for women entrepreneurs that are not currently available. The experience gained by the entrepreneurial trainees will enable them to pursue other start-ups in the future, which will increase the Programs economic impact. The ACTiVATE Program will increase the number of university start-ups in Maryland by 30% annually and innovations from universities will be commercialized so the public can benefit from new products and services. The ACTiVATE Program is designed to capture a portion of the wealth generated by the start-up companies formed so that it can be sustained beyond the initial NSF funding period.
