PATHS FOR MARYLAND ENTREPRENEURS & INNOVATORS
Technical Plans should be no longer than 10 pages in length, including any exhibits, attachments, and diagrams that support the discussion. Technical Plans must explain the technology and the proposed derivative products and/or services, as well as to illustrate technical uniqueness that provides competitive differentiation.
Technical Plans should cover the following topics in independently headed sections:
- Thorough explanation of the underlying technology, including technical principles, theories, and unique attributes.
- Proposed product(s) and/or service(s) resulting (or to result) from the underlying technology; expected competitive differentiation of such products and/or services.
- Synopsis of customer types for the proposed product and/or service; scope and size of proposed market(s).
- Timelines for (1) advancing technology to commercialization stage, with details about steps and milestones to reach such point; and (2) rolling out products and/or services once commercialization is reached.
- Summary of technical milestones reached to date, including descriptions of any tests with potential or actual customers.
- Summary of key technical risks and obstacles that must be overcome; commentary about approaches to address such issues.
- Description of existing intellectual property and potential intellectual property; discussion of IP protection strategy and options.
- Description of external funding needed to reach commercialization and any perceived opportunities for obtaining such funds, including funds awarded to date, synopses of grant solicitations (pending or planned), potential or existing joint development arrangements with other existing firms, and, if relevant, any venture funding sought (or obtained).
- In-depth biographies for the key technical persons in the company; references to relevant publications and other credentials for key technical personnel.
- Description of technical assistance sought from or available at the University of Maryland, including other faculty assistance, student labor, and specialized labs/facilities.
If you are unable to discuss any of the above issues for any reason, please note this fact and provide a brief explanation of why you are unable to discuss it at this time.
After receipt of written Technical Plans, they are distributed to VentureAccelerator’s Technical Review panel for consideration.
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