Mtech Impact Report 2011
This report includes an overview of the historical and 2011 impact of the Maryland Technology Enterprise Institute (Mtech), an initiative of the A. James Clark School of Engineering at the University of Maryland, as well as 2011 highlights.
MARYL AND TECHNOLOGY ENTERPRISE INSTITUTE IMPACT: 2011 2011 KEY STATISTICS $27.8 billion total economic impact since 1985 21 entrepreneurship courses offered in 2011 7,053 jobs created/retained since 1985 865 enrollments in Mtechâ€™s entrepreneurship courses in 2011 555 companies served by Mtech programs in 2011 3 blockbuster incubator graduates, including two that sold for $1B+ and another that developed pervasive hybrid-electric drive technology Maryland Technology Enterprise Institute, A. James Clark School of Engineering, University of Maryland MARYL AND TECHNOLOGY ENTERPRISE INSTITUTE ENTREPRENEURSHIP EDUCATION 21 865 entrepreneurship courses offered in 2011 for graduate, undergraduate, high school and middle school students enrollments in Mtechâ€™s entrepreneurship courses in 2011 $335,380 65 entrepreneurship scholarships supported by Mtech in 2011 students enrolled in the new Minor in Technology Entrepreneurship in 2011 INTEROPERABLE FACILITY NOTIFICATION $38.5 million raised 2 Maryland Technology Enterprise Institute Leading provider of emergency notification systems 2011 HIGHLIGHTS 124 jobs created by Squarespace and Lurn, both launched by Hinman CEOS alumni while in the program 24 initiatives at other universities based upon the Hinman CEOs Program Mtech launched the new 15-credit Minor in Technology Entrepreneurship, which develops the entrepreneurial mind-set and functional skillsets of students to improve their ability to create, launch, and manage technology ventures. Squarespace Inc., a company founded by Hinman CEOs alumnus (‘05) Anthony Casalena, was named to the Inc. 500 list of fastest growing companies for the third straight year. Mtech director David F. Barbe was named a “Champion of Change” in America by the White House for his work in helping to create high-quality U.S. jobs. Mtech Entrepreneurship Education Director James V. Green took first place in the 2011 3E Learning Innovative Entrepreneurship Education Competition for his “Team Challenge of Risk and Reward” activity. The Entrepreneurship and Innovation Program (EIP) was named a finalist for the USASBE National Excellence in Entrepreneurship Education Awards in the Outstanding Emerging Program category. The Hillman Entrepreneurs Program was named a finalist for USASBE National Excellence in Entrepreneurship Education Awards in the Outstanding Specialty Entrepreneurship Program category. Named to Inc. 500 for two straight years A. James Clark School of Engineering, University of Maryland 3 MARYL AND TECHNOLOGY ENTERPRISE INSTITUTE VENTURE CREATION $3.6 billion $205,000 Technology Advancement Program (TAP) incubator company revenue generated, company acquisitions, and investments and contracts acquired since 1985 2011 support for startups through Mtech’s business plan competitions: $100K ACC Clean Energy Challenge, $75,000 BPC, $25,000 Impact Seed Fund, $5,000 Hinman CEOs Alumni Fund 687 $23.8 million entrepreneurs have gained expert advice through Mtech’s free, monthly, open entrepreneur office hours Sold for $1.1 billion 4 Maryland Technology Enterprise Institute investment, grants and contracts raised or acquired by TAP companies since 2008 Sold for $1.6 billion 2011 HIGHLIGHTS 27 total companies in the Technology Advancement Program, VentureAccelerator, and TERP Startup Laboratory in 2011 $627,000 awarded to UMD startups through the University of Maryland $75K Business Plan Competition since 2001 Sold for $30 million TAP incubator graduate Pixelligent, which makes nanocrystal additives used in electronics and semiconductors, moved into an 11,000 square-foot manufacturing facility and closed a $5.1 million round of funding. Mtech was named the principal lead for the $100K ACC Clean Energy Challenge, a new business plan competition encouraging students from universities throughout the southeastern United States to develop business plans for new clean energy companies. TAP incubator company Zymetis Inc., which develops products for the renewable chemicals and advanced fuels industries, was acquired by AE Biofuels Inc., a Cupertino, Calif.-based global advanced biofuels company. TAP incubator company CosmosIDâ„˘ was named Best Life Sciences Company in the 2011 Maryland Incubator Company of the Year Awards. Three inaugural, talented students entered the new Citrin Fellows Program, which supports graduate students pursuing research related to sustainability while also building companies around their technologies. Hybrid-electric drive technology licensed to Toyota, Ford A. James Clark School of Engineering, University of Maryland 5 MARYL AND TECHNOLOGY ENTERPRISE INSTITUTE PARTNERSHIPS $23.7 billion revenue generated by the top-performing products developed by MIPS projects since 1987 economic impact of the University of Maryland Manufacturing Assistance Program on Maryland companies since 2000 2,785 $182.5 million jobs created by the Maryland Industrial Partnerships program since 1987 Synagis: $11 billion+ therapeutic 6 $383 million Maryland Technology Enterprise Institute USM research funded by MIPS since 1987 Worldâ€™s leading product for Internet-by-satellite 2011 HIGHLIGHTS 245 companies worked with MIPS, UMMAP, and BREP in 2011 MIPS company WellDoc’s landmark mHealth diabetes study demonstrated a 1.9% A1c reduction in people with type 2 diabetes. The company was also named one of America’s most promising companies by Forbes. Germantown-based Hughes Communications, which utilized MIPS funding to develop the protocol for its industry-leading Internet-viasatellite product HughesNet, was acquired by EchoStar in a deal valued at $2 billion. Mtech launched the new Biopharmaceutical Advancement Program in Shady Grove to help Maryland companies and researchers develop cell culture-based biopharmaceutical products. The City of Baltimore contracted MIPS company HY-TEK Bio to mitigate emissions from the city’s Back River Waste Water Treatment Plant. $617,630 support for UMD undergraduate research since 1998 Infant formula additive; in nearly 100% of U.S. market MIPS company Telcare’s world-first, cellularenabled blood glucose meter was reviewed favorably in The Wall Street Journal. The product was also a finalist in the Consumer Electronic Show’s Last Gadget Standing competition. MIPS company CSA Medical Inc., the leading developer of novel Spray Cryotherapy devices that flash freeze and treat diseased tissue inside the body, completed an oversubscribed $12.6 million Series A round of financing. Black & Decker Bullet Speed Tip Masonry Drill Bit drills 2X faster for 6X more holes MARYL AND TECHNOLOGY ENTERPRISE INSTITUTE MTECH ENTREPRENEURSHIP/INNOVATIO EDUCATE Hinman CEOs Program Two-year, living-learning entrepreneurship program for juniors and seniors RESEAR CH Entrepreneurship & Innovation Program (EIP) Two-year, honors, living-learning entrepreneurship program for freshmen and sophomores CONCEPTS IDEAS CREA Technology Advan Program Stateâ€™s first technology incubator; 100+ gradua dollar exits VentureAccelerato Expert, intense, venture assistance for UMD fac entrepreneurs Hillman Entrepreneurs TERP Startup Lab Scholarship program with two local community colleges for transfer students interested in entrepreneurship Research and prototyp very early stage entrep Minor in Technology Entrepreneurship for Undergraduates Entrepreneur Offic Free, open office hours aspiring entrepreneurs 15-credit minor; develops entrepreneurial mind-sets and functional skillsets to launch and manage new ventures Entrepreneurship Courses Comprehensive array of entrepreneurship courses for graduate, undergraduate, and pre-college students (21 courses with 865 enrollments in 2011) University of Mary Business Plan Com Annual business plan c students, faculty and re University of Mary Technology Startu 8 Maryland Technology Enterprise Institute Annual, intensive, day-l about how to launch te ventures ON ECOSYSTEM ATE CONNECT ncement Maryland Industrial Partnerships y business ates, two billion Technology product development funding for Maryland-based companies or Program Maryland International Incubator e-building culty and student ping laboratory for preneurs ce Hours s for current and s in the region yland $75K mpetition competition for ecent alumni yland up Boot Camp long workshop echnology Home for international companies; encourages collaboration with UMD faculty and students Biotechnology Research and Education Program Bioprocessing, scale-up, cell culture, education and training Maryland Intellectual Property Legal Resource Center Free legal services for tech entrepreneurs; offered through UMB law school University of Maryland Manufacturing Assistance Program (UMMAP) Solutions for manufacturers VIBRANT MARYLAND INNOVATION ECONOMY Maryland Technology Enterprise Institute A. James Clark School of Engineering University of Maryland College Park, MD 20742-3415 Nonprofit Org. U.S. Postage PAID Permit No. 10 College Park, MD The mission of the Maryland Technology Enterprise Institute (Mtech), a unit of the A. James Clark School of Engineering at the University of Maryland, is to educate the next generation of technology entrepreneurs, create successful technology ventures, and connect Maryland companies with university resources to help them succeed. Founded in 1983, Mtech has had a $27.8 billion impact on the Maryland economy and helped create or retain more than 7,053 jobs. Top-selling products such as MedImmune’s Synagis®, which protects infants from a deadly respiratory disease, and Hughes Communications’ HughesNet®, which brings satellite-based, high-speed Internet access to the world, were developed through or enhanced by our programs. Billion-dollar companies such as Martek Biosciences and Digene Corporation graduated from our incubator. Director: Dr. David Barbe | 301.405.3906 | www.mtech.umd.edu Educate, Create, Connect FEAR THE TURTLE