ARR Challenge

General Company Details

Applicant/Company Name

Insert full, legal name. If applicant is already registered with the Maryland State Department of Assessments and Taxation (SDAT), the name inserted here should match the SDAT registration

If other selected, please specify:

Company Website

Full URL if applicable

Eligibility Questions

TEDCO exists to support technology-based companies in Maryland as specified in its statute. These six simple questions will help to quickly establish your eligibility before proceeding with the balance of the application.

Is the applicant a technology-based business, i.e does it rely on some form of technology to give it a competitive advantage in the market?

Yes

Does the applicant currently have 100 or fewer employees?

Yes

Is the applicant primarily engaged in the provision of professional services by accountants, attorneys, or physicians?

No

Is the applicant primarily engaged in retail sales, real estate development, insurance, banking or lending?

No

Is the applicant an Agtech, OR a company with headquarters in one of Maryland's rural counties or Northern Baltimore County?

Yes

Has the applicant been dramatically impacted by COVID-19 or the associated economic downturn?

Yes

Is this a collaboration with a Maryland research university or entrepreneurial organization or related industry partner?

Yes

Please specify collaborator:

Principal Business Operations

“Principal Business Operations” means the headquarters from which the applicant's officers direct, control, and coordinate the applicant's business activities.

Street Address

City

State

Zip Code

County

Additional Business Locations of the applicant or locations of collaborator (both inside and outside Maryland)

Please list full addresses below

Primary Contact Information

First Name

Last Name

Title

Phone

Email

How did you hear about ARR?

Company Overview/Economic Impact Statement(100 Word limit)

Description of Business/Product (Explain why it is a great opportunity for an funding assistance in the terms of economic interest in MD.)

Document Submission

If you exceed the file limits, your application will NOT submit and result in an error.

Grant Proposal (35 mb maximum)

Collaborative Effort Statement (35 mb maximum)

Occupancy Rights (35 mb maximum)

A copy of the lease, license agreement, deed, or other document that evidences the applicant’s right to occupy the physical location of the Principal Business Operations, the headquarters from which the applicant's officers direct, control and coordinate the applicant's business activities.

Additional Company Information

Employment Data

How many founders and employees does the applicant have in total?

How many founders and employees does the applicant have working in Maryland?

"Employee" means a W-2 reporting worker of a business.

"Founder" means an individual who established a business by: (a) Assuming a portion of the risk of the business; and (b) Having the initial rights to a portion of the profits of the business.

General Criteria

The applicant shall describe the following so that TEDCO can evaluate and score the Growth Opportunity of the business.

1. The growth potential of the applicant based on a credible and sustainable business model.

300 words maximum

2. The degree to which the applicant’s proposed product or service addresses a need in the market and brings value to customers.

300 words maximum

3. Size of the total addressable market for the applicant’s product or services.

300 words maximum

4. The analysis of competitors in the market and sustainability of the applicant’s competitive advantage.

300 words maximum

5. The strength of the applicant’s management team including the team’s technical competence, entrepreneurial experience, business experience, and ability to grow the business.

300 words maximum

6. The potential of the applicant or the applicant’s management team, as applicable, to raise follow-on capital, increase revenues, and create jobs.

300 words maximum

7. Stage of development for product or services including market testing, customer discovery, and scientific validation.

300 words maximum

8. The applicant’s plan to deliver or expand product or services to the market including manufacturing, marketing, partnering and as applicable, regulation strategies.

300 words maximum

9. The amount of funds the applicant has raised as of the date of application.

300 words maximum

10. The applicant’s future financing plan including financial models, employment plan, strategic milestones, and capital needs.

300 words maximum

Economic & Social Disadvantage

The applicant shall describe how they have an economic or social disadvantage, if applicable.

If applicable, please make a case for the applicant's social or economic disadvantages.

300 words maximum.

"Economic disadvantage" means the impairment of the ability to compete in the free enterprise system due to social disadvantage resulting in diminished capital and credit opportunities as compared to others in the same or similar line of business, as such term is interpreted under 13 CFR §124.104.

"Social disadvantage" means subject to racial or ethnic prejudice or cultural bias within American society because of identity as a member of a group and without regard to individual qualities, as such term is interpreted under 13 CFR §124.103.

ARR Challenge

The applicant is applying for the ARR Challenge and, by applying, hereby certifies that it meets the stated eligibility requirements.

The undersigned hereby certifies and affirms that the statements and information set forth in the application, as supplemented by any additional materials or documents, are true, correct and complete. The undersigned will promptly notify the Maryland Technology Development Corporation in writing if the undersigned acquires knowledge or information, directly or indirectly, that any of the statements, information, materials or documents are incorrect or incomplete. Material misstatements, material omissions or material misrepresentations in the application or any accompanying documents or materials will be a basis for denying an application for funding.

Agree to above

Corporation	Limited Liability Company
Limited Liability Partnership	Limited Partnership
Other