University of Maryland, College Park
|
Location |
College Park, MD |
|
|---|---|---|
|
Build to Scale Program |
Capital Challenge |
|
|
Project Name |
UMD Terrapin Fund |
|
|
Award Amount |
Federal Share |
Local Match |
|
$333,084 |
$334,443 |
University of Maryland, College Park (UMD) students, faculty, and alumni regularly develop groundbreaking innovations that serve as the foundation for startups capable of transforming industries, improving lives, and helping solve society’s most pressing problems. Despite the success enjoyed by many UMD-affiliated entrepreneurs, the lack of access to local investment capital impedes growth. Many pre- and-early revenue UMD-affiliated startups that have demonstrated early promise struggle to raise capital beyond non-dilutive grants and friends-and-family funding. Additionally, many lack the advanced business skills and access to entrepreneurial talent needed to translate ideas and inventions into viable, scalable companies. Consequently, these startups are unable to secure the early capital and other resources required to overcome the funding valley of death and realize their potential. To address these hurdles, UMD is launching the UMD Terrapin Fund to provide high-growth potential, UMD-affiliated companies with access to the risk capital, talent and educational resources required to accelerate business growth and scale impact in ways that benefit the UMD entrepreneurial ecosystem, the greater Washington, DC metro area, and society.