Matching
Requirements
Cash: Matching requirements are based on the University Budget
for the project. Both MIPS and the company contribute
cash, the total of which equals the University Budget.
In-kind: Companies are required to make an in-kind contribution
in addition to their cash contribution. An in-kind contribution
is the company's budget for its work on the project.
This includes
salaries and wages, materials and equipment, travel
and other company expenses budgeted for the project.
Large
Firms: Company cash contribution is at least 50% of the University Budget. Company's in-kind requirement is at least equivalent to 25% of the University Budget.
Medium
Firms: Company cash contribution is at least 50% of the
University Budget. Company's in-kind
requirement is at least equivalent to 25% of
the University Budget.
Small
Firms: Company cash contribution is at least
35% of the University Budget. Company's in-kind
requirement is at least
equivalent to 30% of the University Budget.
Start-up
Firms: Company cash contribution is at least
10% of the University Budget. Company's
in-kind
requirement
is at
least equivalent to 35% of the University
Budget.
Equipment
Gift: If the company donates equipment to the University
that is needed
for the project, the
required
equipment is to
be valued according to "DESCRIPTION
AND ESTIMATED VALUE OF EQUIPMENT
GIFT" in the Application
Form.
Equipment
Loan: If the company lends equipment to the University,
the
value of the loan
for the applicable
period may be determined
by fair rental value or by depreciation
for the period of the loan. This
estimate should
be included
in "COST ESTIMATE
- COMPANY EFFORT" in the application
form.
MIPS Funding Limits: MIPS awards
are limited to $100,000 per project
per year for large,
medium and small
companies and
$90,000 for start-up firms. The
minimum is $5,000 per project
per year. University
overhead,
as
well
as company overhead,
are included in the matching-fund
computations. Each institution
of the University System
of Maryland has its own overhead
structure.
Alternative
to Matching Requirements for Start-up Companies: This
provision applies
only to a
start-up company's
cash matching requirement and
involves making an equity contribution
in place of the otherwise required
cash contribution. If the company
is interested
in the equity alternative,
it is necessary
to advise MIPS well in advance
of
the proposal (Project Application)
submittal
deadline date and for the company
and MIPS to agree
to the contractual arrangements,
should the company receive
an award.
