Note: The
information below is an overview of requirements for MIPS funding
applications. Actual requirements are subject to change. An
official MIPS application
must be submitted. Application packets always contain the most
up-to-date requirements. To receive an application,
please contact the
MIPS office.
MIPS
makes every effort to keep the proposal process simple
for applicants. However, in order to make well-informed and
fair
judgments in a competitive situation, the Evaluation Board
will need certain basic information, including:
- Description
of the proposed project;
- Faculty
and student on-campus involvement;
- Company's
participation in project performance;
- Schedules
and budgets;
- Company's
intentions for commercialization;
- Potential
benefits to the company, the state and the university;
- Company's
matching commitment;
- Agreement
to progress reporting during and after project.
Start-up
Firms: If your company is a start-up
firm,
you are required to submit with your application a summary of your business
plan (2 or 3 pages). This should include: year
established,
nature of business, advantages of your product or service, company
objectives, management, market factors and sales plan. A current
financial
statement and a financial pro forma
are also required. Include a Certificate of Standing from
Maryland Department of
Assessment
and Taxation.
Small
Firms: If your company is a small firm, enclose a
product brochure or
other pertinent
literature
about your company.
If you are proposing a new product
or venture that is outside of
your area of experience and expertise
(such as a distributor of medical
instruments proposing to develop,
manufacture
and sell a line of home security
equipment), you are required to
submit a business plan summary
and a financial
pro forma for the contemplated
new venture. See "Start-up Firm" above.
Out-of-State
Companies: An out-of-state company that does not
have a substantial portion
of its manufacturing
or service
or research and development operations
in Maryland, but is planning
to establish such operations
in Maryland within the year in
which an award is received, should
write a letter advising MIPS
of this intent and enclose the letter
with its application. The letter
should include
information
about the
planned Maryland facilities and
workforce.
Any
MIPS award to an out-of-state company will require that the
company post
a performance bond or make
other
guarantees
providing
reimbursement of MIPS funds
if Maryland facility requirements
are not met.
Intellectual
Property
Detailed information about intellectual property
ownership, and the handling
of licensing and royalties,
is
addressed
in the packet
sent with MIPS application. Each proposing company must
agree
in advance to abide by the
intellectual property model
which applies to
its specific
situation.
Conflict
of Interest
The state of Maryland has
very stringent ethics standards
and rules regarding
conflict of interest
for its employees.
For
this reason, each proposing
company will be required
to
disclose
any substantial ownership
position in the company
by an employee
of
the state
or any other
potential conflict
of interest
situation involving a state employee.
