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SBIR START presentation

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Introduction to MassVentures' START program, funded by the Commonwealth of Massachusetts, to assist Massachusetts-based companies, which have received SBIR/STTR Phase II funding, in turning their …

Introduction to MassVentures' START program, funded by the Commonwealth of Massachusetts, to assist Massachusetts-based companies, which have received SBIR/STTR Phase II funding, in turning their technologies into commercialized, promising technologies.

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  • 1. MassVentures SBIRTargeted Technologies “START” Program February 25, 2013 Revision 2
  • 2. START Program OverviewOverview:A $6 million fund to support the commercialization of technologiesdeveloped under Phase II SBIR contractsGoals:v  Taking technologies developed under SBIR and priming them for commercialization §  Generate patents §  Build prototypes §  Perform market research §  Write fundable business plans v  Create fast growing MA companies by providing funding as well as coaching, business planning and introductions to potential investors 2
  • 3. Supporting the Innovation Economyv START  is  focused  on  ac,vi,es  essen,al  to  successful   commercializa,on,  to  help  support  promising  MA   companies  looking  to  grow  and  stay  here  in  the   Commonwealth    v State  support  of  the  innova,on  ecosystem  v Leveraging  federal  dollars  into  high  growth   companies  moving  towards  the  private  sector   3
  • 4. The Importance of SBIRs to the StateMassachusetts has long been a national leaderin SBIR grants and dollars received •  2nd in the nation in dollars received •  1st in dollars received per capita •  $3.8 billion in commercial sales of SBIR technologies generated to date •  MA has consistently been awarded nearly 13% of all SBIRs 4
  • 5. SBIR Success Stories Company TechnologyA123 Battery manufacturerAgiltron Optical components manufacturerFoster-Miller Military robot manufacturerGiner Electrolyzer manufacturerInflexxion Healthcare software developeriRobot Consumer and defense robotics manufacturerPhysical Sciences Medical and environmental sensorsRadiation Monitoring Radiation detection equipmentSymantec Security software manufacturerTriton Advanced materials developer 5
  • 6. START Program Details3 Stages over 3 years v $100,000 each to 10 Massachusetts applicants that have won Phase II SBIR contracts v Based on progress demonstrated over the first year, an additional Stage II grant of up to $200,000 will be awarded to the five most promising companies v At the end of the second year, two companies will be chosen for a $500,000 investment based on their potential for growth and profitability v This process is renewed yearly! 6
  • 7. Eligibilityv Massachusetts based companies that have received Phase II funding within the last 3 yearsv The company must demonstrate a significant, addressable market for its technologyv Well planned use of proceeds that will take company to commercializationv Life sciences and energy/clean-tech will not be considered under START as other Massachusetts programs support them. 7
  • 8. Key Dates for 2012 Event   Date  RFP Release March 27, 2012Application deadline Friday, April 27, 2012, 12:00pm estPresentations by selected Thursday, May 24, 2012applicants to START review board Stage 1 agreements signed Friday, June 15, 2012Stage 1 winners announced Thursday, June 28, 2012 8
  • 9. Summaryv The State and MassVentures are committed to fueling the innovation economy in the Commonwealthv MassVentures has a strong track record of helping companies grow and achieve profitabilityv A unique program to address Massachusetts’ unique situation 9

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