Technology Validation Program
The Technology Validation Program provides funding to validate a technology for a specific application and/or to validate the market opportunity for a technology. The validation of a market opportunity generally involves a market analysis that demonstrates that products based on the technology will have a clear competitive advantage and meet a clear need in a significant market. The validation of a technology for a specific application generally involves a small proof-of-principle study to demonstrate that the technology works as intended. The goal of the Technology Validation Program is to foster the creation of more start-up companies based on technologies developed at Maryland’s universities, not-for-profit research institutions, and federal laboratories.
The Technology Validation Program includes two distinct phases– the Technical Validation Phase and the Market Assessment Phase. The Market Assessment Phase consists of awards of up to $10,000 for a market analysis for a technology and for the development of a commercialization plan. Awards are made for projects that can be completed in 2–3 months. The Technical Validation Phase consists of awards of up to $40,000 for proof-of-principle studies. Awards are made for projects that can be completed in 6–9 months.
TEDCO will first fund the phase representing the greatest risk to commercialization – depending on market risk versus technology risk. Upon successful completion of the first phase project, the second phase will be funded. TEDCO will generally award a Market Assessment Phase before awarding a Technical Validation Phase.
Universities and not-for-profit research institutions in Maryland are eligible to apply for both phases of the Technology Validation Program provided that they are not an active Qualifying University as defined in the Maryland Innovation Initiative statute.
Entrepreneurs considering the creation of a Maryland-based start-up company relying on a technology from a non-MII eligible university or non-profit research organizatrion in Maryland, or a federal lab in Maryland are eligible to apply for the Technology Validation Program.
Technology Validation Program awards will be made in the form of a grant.
Applicants must register by clicking here, and may then apply for an application. Applications are accepted at any time, but those received by the 1st of each month will be considered in that month’s review cycle.
Arti Santhanam, Ph.D.
Program Manager, Technology Validation Program