Wednesday, August 17, 2011

Applications Available $200,000 Biotechnology Awards

The Maryland Biotechnology Center’s (MBC) Biotechnology Development Awards provide funding to advance biotechnology research and development in Maryland along the path to commercialization.
MBC has two Biotechnology Development Awards programs available: the Biotechnology Commercialization Award and the Translational Research Award. The primary difference in the types of projects funded by these two programs is the stage of commercialization of the technology associated with the proposed project.
Both programs provide a maximum of $200,000 funding and are for projects of one year or less. Projects typically require more than $200,000 for completion. Funds are released in phases tied to successful completion of identified milestones (50% initially, 40% with the midterm report, and 10% with the final report). Companies must apply costs financed by the award to expenses for tasks associated with the milestones. Funding can be used for equipment, salaries and other business expenses, such as rent, IP expenses, or professional services. A balance between personnel and operational expenses will be reviewed as a criterion. Personnel costs supported by the award should be no more than 50%. Payment for university overhead is not included.
MBC’s awards complement Maryland’s nationally-recognized programs that provide early stage technology commercialization funding to companies such as DBED's Maryland Venture Fund's Challenge and Enterprise programs,DBED’s Biotechnology Incentive Investment Tax Credits, TEDCO’s Maryland Technology Transfer and Commercialization Fund (MTTCF), and the University of Maryland’s Maryland Industrial Partnerships (MIPS) program.
You can contact our office to determine which program best fits your needs and to understand the qualifying criteria for each program. Our staff also will be happy to help you access other resources available at the Center and throughout the state.
Important Dates
Application Deadline Sept. 30, 2011
Finalist Notification Oct. 21, 2011
Finalist Presentations Oct. 31 - Nov 10, 2011
Award Notifications Dec. 1, 2011