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Maryland Momentum Fund

Angel Fund · 20 Members · Baltimore, MD, US
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About this Program

The University System of Maryland (USM) is the state’s public higher education system, comprising 12 institutions and 2 regional centers.

Our Investment Focus

Maryland Momentum Fund Is Accepting Applications for Investment


About this Program


The University System of Maryland (USM) is the state’s public higher education system, comprising 12 institutions and 2 regional centers.


Our Investment Focus


The Maryland Momentum Fund is a newly-created mechanism for investing in promising early stage companies associated with the University System of Maryland (USM). Maryland-based companies that are seeking equity financing or debt financing  that is convertible into equity may apply.  The funding provided by the Fund will normally be in the range of $150K-$250K, with a ceiling of $500K.  Recipients of this funding must obtain a matching investment (1:1) within six months, in either direction, from the date of commitment by the Fund.  A company is eligible if any one or more of the following criteria exist:


 



  • The intellectual property (IP)  is owned by a USM institution.



  • The company is located at a USM research park, incubator, or RISE Zone.



  • The principal founder or inventor is a USM faculty member, graduate or student.


  A company can notify the Momentum Fund of its intention to seek funding or to request a meeting to come in and discuss whether funding may be appropriate at any time. Evaluations of the applicants  will be done on an ongoing basis, however final recommendations for funding will be considered by the Advisory Board of the Momentum Fund on a quarterly basis.  A company that applies and is not selected might be held on active status and the staff of the Momentum Fund or of the USM institution associated with the company might seek to meet with the company to help prepare them for being considered  on a future date or a company may also reapply in the future.  Our role is not only to have some available funding, but to help companies become the best that they can be.  We want all Maryland businesses to be as successful as possible.


Application materials will be reviewed as soon as a complete package of information is received.  The next meeting of the Advisory Board to consider and approve investments has not yet been scheduled but will likely take place in early December, 2017.


 In order to make application to the Momentum Fund the company should send an email notification of its intent to David W. Wise, the Director of the Fund, at dwise@umaryland.edu.  In order to begin the review process the company should send answers to all of the following questions (supplemented by attachments, as necessary) to the Director.  The company should create a company profile on GUST. The initial required information includes:



  • Corporate overview (one pager or Executive Summary).



  • Identification of USM eligibility (see above).



  • Name of CEO and whether CEO on a full time basis.



  • Pitch deck or business plan (in its current form)


  • Schedule of any intellectual property (patent numbers, brief description, filing date, issue date, geographic coverage)



  • Information on the current financing round including amount to be requested from Momentum.



  • A detailed  “use of funds” showing how the money will be spent  (and milestone to be achieved – inflection point).



  • Amount of grant funding raised by company to date.



  • Amount of equity or convertible funding raised to date.



  • Cap table - the ownership percentages held by the current shareholders



  • Proposed investment document or convertible note (if one exists).



  • Confirmation by the company that any investment by the Fund would be subject to Maryland law.


 


We look forward to getting to know your companies and your management teams.


Questions? Contact mdmomentum@usmd.edu

Preferred Locations

  • Maryland, US