Henry Ahn, Program Manager TEDCO’s Technology Commercialization Fund answers some of the most frequently asked questions about the Fund.    

1.  How early is too early for TCF?
If the technology is still at a conceptual stage, it is too early for TCF.  Applicants must show some preliminary data or strong evidence that the technology works as intended.  For Internet-based companies, showing that there is some traction (through followers or users) is generally important.

2.  How important is the management team? 
The management team is extremely important.  However, at the time that companies submit a TCF application, it is not required that they have a full set of management team.  At minimum, the applicant should have people on the advisory board that fill the existing managerial gap to help guide the company until the company is able to bring additional people on board on full time basis.

 3.  Can any of the eligibility requirements be waived?
 No, we cannot waive any of the eligibility requirements.  The three main eligibility requirements must be met prior to submitting an application.  Visit  http://tedco.md/program/technology-commercialization-fund-tcf/  for the list of 3 main eligibility requirements.

4.  We are virtual with people all around the county. Can we qualify?
As long as the company has at least 50% of the employees working (in an office or at home) in the state of Maryland and meets other eligibility requirements, they qualify.

 5.  We are incorporated in Delaware (or another state).  Are we eligible?
 As long as the 3 main eligibility requirements are met, the company is eligible.  However, since the company is doing business in Maryland, they have to be registered to do business in Maryland with the State Department of Assessments and Taxation.  If the company is approved for funding, as part of the pre-closing documents, they have to submit a certificate of good standing from both Delaware (or wherever they are incorporated) and Maryland.

If you have any other questions regarding TCF, please contact me at Hahn@tedco.md or at 410-715-4165.