July 15, 2013

Announcement of Opportunity

Request for Proposals

Economic Impact Study on the

Maryland Technology Development Corporation (TEDCO)

I.          OVERVIEW
The Maryland Technology Development Corporation (TEDCO) is announcing an opportunity for qualified firms to submit proposals to conduct a study of TEDCO’s overall economic impact on the economy of the State of Maryland over the past three (3) to five (5) years.

TEDCO is seeking responses to this Announcement of Opportunity/Request for Proposals (RFP) by August 16, 2013.  TEDCO will select a firm by August 30, 2013 that can deliver the requested report on or before December 2, 2013

TEDCO was created by the Maryland State Legislature in 1998 to facilitate the transfer and commercialization of technology from Maryland’s research universities and federal laboratories into the marketplace and to assist in the creation and growth of technology-based businesses and entrepreneurship in all regions of the State.  As a Technology-Based Economic Development (TBED) organization, TEDCO’s purpose is to grow Maryland’s technology-based economy by creating high-paying jobs and expanding the tax base in this sector.

TEDCO currently receives a majority of its $20 million annual budget from the State of Maryland.  This funding is used for TEDCO’s various funding programs and to support its operating costs.  The major funding programs are the Technology Commercialization Fund, the Maryland Stem Cell Research Fund and the Maryland Innovation Initiative.  In addition to State funding, TEDCO receives income from many of its awardees, which have an obligation to pay TEDCO a portion of revenues for a period of time following the completion of a funded project.  These reimbursements are also used to support TEDCO’s other funding programs.

Every year, TEDCO funds, supports, or advises more than 100 Maryland start-up companies and entrepreneurs through its various programs.  In addition, it awards over $10 million to Maryland’s universities to support stem cell and translational research, and it provides funding to, and otherwise supports, many of Maryland’s technology incubators.

In addition to its various funding programs, TEDCO provides a variety of activities that support the entrepreneurial ecosystem.  These include the hosting and sponsoring of various events – Entrepreneur Expo, ICE Awards, Incubator Company of the Year Award, portfolio workshops, tech breakfasts, and others.  TEDCO has also developed and supported programs such as the Maryland Entrepreneur Research List (MERL), Rural Business Innovation Initiative (RBI), ACTiVATE, and others that foster mentorship and entrepreneurship training.

A full description of TEDCO’s various programs and a copy of its latest annual report can be found on TEDCO’s website – www.tedco.md.

The proposed project is to conduct substantive research into TEDCO’s direct and indirect economic impact on the State of Maryland through its various programs and to benchmark its impact relative to other states and comparable TBED organizations in the country.  In addition, the project should include a forward-looking analysis of the economic impact that investments in the past three-to-five years will have in the next five-to-ten years or beyond.  To the extent possible, the study should also examine TEDCO’s economic impact based on its less tangible contributions to the entrepreneurial ecosystem, including its mentoring activities, portfolio workshops, Entrepreneur Expo, MERL, ICE Awards, Incubator Company of the Year Awards, etc.  While the study should examine TEDCO as a whole, the research should include a specific economic impact analysis of the major individual programs.  These individual programs include the Maryland Stem Cell Research Fund program, the Technology Commercialization Fund and the Maryland Innovation Initiative.  Finally, the study should consider, on a cost-benefit basis, how TEDCO should allocate its resources to generate the greatest economic impact.

The purpose of the study is to assess TEDCO’s economic impact on the economy of the State of Maryland.  TEDCO will use the results of the study to estimate the return on the State’s investment in supporting TEDCO over the past three-to-five years with public funds.  The report will also be used to assess TEDCO’s impact relative to other TBED organizations in the U.S.  Finally, TEDCO will use the findings, as applicable, in its strategic planning process associated with the development of, and justification for, new programs.

To assess its economic impact, TEDCO would like the study to consider:

1.         The economic impact of companies supported by TEDCO including but not limited to factors such as the number of jobs, corresponding payroll, income tax payments and company revenues (including multipliers).

2.         The number of spin-out companies from universities and federal labs that have been supported by TEDCO’s programs versus what occurs without the support.

3.         The economic impact of research awards and licensing revenues returned to universities associated with technologies funded through TEDCO’s university programs (licensing activities associated with supported technologies).

4.         For Stem Cell research funding, the economic impact (number of jobs and amount of wages earned/State taxes paid) to entities that have received this funding and the follow-on federal funding received that relied on data generated from these awards.

5.         The economic impact assessment should consider TEDCO’s non-funding programs.

6.         Other metrics deemed appropriate by the respondents for measuring TEDCO’s economic impact on the economy of the State of Maryland.

Proposals should include the following information:

  • Experience and qualifications of the research team;
  • Proposed methodology;
  • Project approach;
  • Work plan;
  • Project schedule; and
  • Budget and justification.

Proposed budgets should not exceed $60,000.

TEDCO is requesting responses to this RFP by 5:00 pm EDT on Friday, August 16, 2013.  

To respond to this RFP, firms should deliver three (3) hard copies of their proposal and e-mail one (1) electronic copy (Adobe PDF) to TEDCO by the specified deadline to:

John Wasilisin
Executive Vice President/COO
5565 Sterrett Place, Suite 214
Columbia, Maryland 21044

Any questions regarding this RFP or requests for additional information must be sent to John Wasilisin in writing (e-mail is acceptable).

TEDCO will use an internal committee of its staff and other stakeholders to evaluate proposals.

TEDCO may elect to interview final candidates prior to making a final selection.

TEDCO will use several criteria in its evaluation of proposals.  In general, TEDCO will consider how well the proposed project plan meets the purpose of the study and how qualified the team is to conduct the study successfully.  Specifically, TEDCO will consider a firm’s proposed methodology, approach, work plan, and schedule.  A firm’s approach to determining the economic impact of TEDCO’s non-funding programs and its model for forward-looking economic impact will be considered.  Project pricing will also be strongly considered.

TEDCO will make a final selection by August 30, 2013.