March 25, 2021 Committee On Economic Development .
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionBoard of RegentsCommittee on Economic Development and Technology CommercializationMarch 25, 2021Virtual (public listen only access at 443-353-0686, Conference ID: 316 220 802)Committee Members will be sent Zoom informationPublic Session Agenda(1) Featured Startup: Inventwood – Josh Cable, CEO (Information Item)(2) Activating Fearless Ideas for Transformational Impact Supporting Companies Like Inventwood – JulieLenzer, Chief Innovation Officer, University of Maryland, College Park (Information Item)(3) Corporate Training and Development – Dr. MJ Bishop, Associate Vice Chancellor and Director, WilliamE. Kirwan Center for Academic Innovation at the University System of Maryland (Information Item)(4) USM Office of Economic Development Update – Tom Sadowski, Vice Chancellor for EconomicDevelopment (Information Item)a. COVID-19 Task Force Activityb. Legislative Activityc. Momentum Fund2
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionBOARD OF REGENTSSUMMARY OF ITEM FOR ACTIONINFORMATION OR DISCUSSIONTOPIC: Featured Startup: InventwoodCOMMITTEE: Economic Development and Technology CommercializationDATE OF COMMITTEE MEETING: Thursday, March 25, 2021SUMMARY: Josh Cable, CEO of Inventwood, will present the company’s progress to date.InventWood uses material science innovations to alter wood for different purposes, making itincredibly strong, transparent, or insulating. The company is based on technology developed bya team of material scientists at the University of Maryland, led Professor Liangbing Hu.ALTERNATIVE(S): This item is for information purposes.FISCAL IMPACT: There is no fiscal impact.CHANCELLOR’S RECOMMENDATION: n/aCOMMITTEE RECOMMENDATION:DATE:BOARD ACTION:DATE:SUBMITTED BY: Tom Sadowski 410-576-5742tsadowski@usmd.edu3
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionUniversity of Maryland Regents PresentationMarch 20214
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionWe are InventWoodInventWood is committed to transforming the world by developing advanced woodmaterials that are high-quality, cost-effective, and environmentally-sustainable.Structural & SupportMettleWood Stronger than steel Light-weight Low-costThermal ManagementInsulating ‘Nano’ Wood Tunable strength Strong insulation properties Non-toxic, fully biodegradableRadiative Cooling Wood Energy emitting, IR invisible Record-high cooling efficiency Low-cost and biodegradableOptical & Light ManagementTransparent Wood Light-channeling potential Lighter and tougher than glass 6x better thermal insulation‘Aesthetic’ Wood Stunning visible grains 6x better thermal insulation Smart light management And many more to come!25
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionThe Challenge Ahead of UsThree major environmental issues Climate Change Greenhouse gas emissions Fossil fuel consumption Ecological Imbalances Invasive species Mass deforestation Waste Disposal Microplastics in waterways Non-biodegradable landfill waste36
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionThe Answer Grows on TreesWood is the solution!BiodegradableCarbon SequesteringWood decomposes naturally in arelatively short period of timeWood captures and retains CO2during its lifecycleNaturally InsulativeEcologically BalancingWood is far more insulative thansteel, no concrete neededInvasive species can be used toencourage natural restorationAbundant & PlentifulBiophilicMost wood is sustainable and anever-growing resourceExposure to wood has beenshown to alleviate depression47
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionAn Introduction to Advanced Wood MaterialsAddressing natural wood’s shortcomingsRegular WoodAdvanced Wood MaterialsStrengthWeak(30-70 MPa for most species)Very Strong(Up to 1,000 MPa)EnvironmentalResistanceVaries and highly dependent onspecies and circumstancesHighly resistant to many environmentalchallenges like water, fire, and termitesFormabilityVery difficult to shape and formlike other materialsCan be easily shaped and formed likemetals and plasticsSpeciesDependencyYes, performance &aesthetic highly dependentCan be made into consistent productsindependent of speciesEconomicsRegarded often as low-cost andlow-value commodityCan be high-value agricultural export,reinvigorating rural communities58
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionAn Introduction to MettleWoodThe true ‘green steel’ Lightweight with HighSpecific Strength Incredibly Strong &Unbelievably Tough Cost-Efficient Durable & Resilient Sustainable &Biodegradable69
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionA Few Recent Headlines‘Super wood’ in the news710
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionMettleWood Creation ProcessEfficient, low-cost, sustainableMettleWood vs. regular wood:Step 1.ChemicalTreatment20xStrength15-20xStiffnessStep 2.DensificationRegular WoodMoisture, fire, andtermite resistantAligned & PackedWood Fibers811
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionWhy MettleWood?Clear benefitsCompared to structural steel, MettleWood is:80%Lighter50%Cheaper*ZeroEmissions*** Cost target; final costs may vary on a number of factors** Assumes green energy (i.e. zero emissions) is used in production and transport912
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionUnlimited Potential, Countless ApplicationsReal-world possibilities for MettleWoodFurniture &Leisure ItemsBeams, Posts, andScaffoldingShelves and Framesfor LogisticsShipping Containersand BoxcarsEnergy EfficientBuildings & d TurbineBlades1013
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionInventWood’s TimelineProgress toward widespread adoptionSep2016Feb2019FoundingInventWood foundedas a spin-off of theUniversity of MarylandFormationInventWood receivesARPA-E federal grantaward funding forMettleWood researchand commercialization.Sep2019DecPaid Pilot2020InventWood concludesan exclusive licenseagreement with theUniversity of Marylandto license a portfolioof technologies.1st customer explorationproject begins for use ofMettleWood in acommercial application.InventWood formallybegins commercialprospecting with hiring ofcore leadership team andthe formalization of abusiness strategy.Jun2018Feb2020 IP LicensingValidationGrant AwardsInventWood receivesfirst commercialrevenues forMettleWoodvalidation project.InventWoodformally opens itsown labs andbegins sampleproduction.Jun2020DevelopmentInventWoodplans tomanufacture andrelease 1st batchof MettleWoodproducts.2021 Product Sales!1114
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionInventWood TeamFocused, experienced, and innovativeLiangbing Hu*Josh CableAmy GongJiaqi DaiLiza PikusSoo-Hwan JangFounderCEOCSOCTOVP, StrategyMaterials EngineerPh.D.CFAPh.D.Ph.D.MBAMSc.* Non-employee equity shareholder1215
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionUniversity of Maryland ResourcesIt takes a village!1316
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionThank you!For additional inquiries, please contactinfo@inventwood.com17
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionBOARD OF REGENTSSUMMARY OF ITEM FORINFORMATIONTOPIC: Fearless Ideas for Transformational Impact - Supporting Companies like InventWoodCOMMITTEE: Economic Development and Technology CommercializationDATE OF COMMITTEE MEETING: Thursday, March 25, 2021SUMMARY: Julie Lenzer, Chief Innovation Officer at the University of Maryland, College Park,will provide information about supporting startups based on intellectual property, such as thefeatured startup, InventWood. Ms. Lenzer will provide detailed examples of UMD efforts tocommercialize technology, nurture new venture creation and growth, such as in the case ofIonQ, which plans to go public soon.ALTERNATIVE(S): This item is for information purposes.FISCAL IMPACT: There is no fiscal impactCHANCELLOR’S RECOMMENDATION: n/aCOMMITTEE RECOMMENDATION:DATE:BOARD ACTION:DATE:SUBMITTED BY: Tom Sadowski 410-576-5742tsadowski@usmd.edu18
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionActivating Fearless Ideas for Transformational ImpactSupporting Companies like InventwoodJulie Lenzer, Chief Innovation Officerjlenzer@umd.edu19
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionOffice of the Chief Innovation Officer20
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionOver 60 programs* across campus# 7 in entrepreneurship1#13 in innovation impact2#28 worldwide in issued patents3*See appendix for complete list with links1 – 2020 Princeton Review and Entrepreneur Magazine2 – The Innovation Impact of US Universities, GWB Institute3 – National Academy of Inventors21
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionSpecifically for spin-offs Startup Resource Guide startupguide.umd.eduBusiness Fundamentals for Scientists in 2020: 72 workshops 1,600 attendees360 YouTube channel views4 EiR’s, 3 Site Miners, I-Corps 8M in MII fundingMaryland Momentum Fund invested in 6 UMD spin-off’s7 listed in MD Governor’s Future 2022
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionStartup story: InventwoodDr. Liangbing Hu JoinsUMDAug 201120112012First US Patent IssuedFirst Invention DisclosureInventwood FormedJun 2013Sep 20162013201420152016Sep 2019201720182019Aug 2017 - Feb 2020License negotiations18 invention disclosures, 34 pending US and intl patent apps3 US patents issued and licensed,5 jobs createdUMD patent expenses for licensed portfolio: over 300KStaff hours expended: 1,700‘Startup’ deal terms - minimal cash up front, payment plan for IPreimbursement, shared risk23 160K R&Dgrants 120K raised2019
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionStartup story: IonQFirst patent issued4/2018Dr. Chris Monroe Joins UMDFirst technology disclosureIonQ incorporates 20M Series A 52015 - 7/20162017201920222021TodayLicense negotiations22 invention disclosures, 75 patent applicationsUMD patent expenses for licensed portfolio: 0Hours expended: 3600License terms heavily favor companySignificant investment in real estate improvement2465 jobscreated 88M raisedpre IPO
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionStartup story: Ion Storage Systems 8M Seed Round announced6/2019First patent issued4/20192009Dr. Eric Wachsman Joins UMDFirst technology disclosure20099/201220092010201120122013Ion Storage Systems incorporates3/2015201420152016201720182019Mar 1 - May 1License negotiations32 invention disclosures22 US and International patents issued and licensedUMD patent expenses for licensed portfolio: over 400KHours expended: 4500‘Startup’ deal terms - minimal cash up front, payment plan for IPreimbursement, low royalties2512 jobscreated 12M R&Dgrants 8M raised2019
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionBottom Line It takes time and resources to see successInvestible IP is foundational for startup successFor every ‘success’ there are 10 others, all requiringsimilar resourcesDiversity of technologies requires more and variedresources (ecosystem breadth, alumni outreach)MII and Momentum Fund are strong assets, but manycompanies need more and earlier capital26
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionAPPENDIX27
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionUMD Innovation / Entrepreneurship Programs(find all via innovate.umd.edu)Academy for Innovation and Entrepreneurship (AIE)AgEnterprise ChallengeSchool of Architecture Fabrication Lab (FabLab)BitcampBooklab (English Department Makerspace)Business Fundamentals and Scientists Workshops (run by UMVentures)Center for Social Value Creation (CSVC)Chesapeake Bay Seed Capital Fund (Mtech)Consult Your Community (student consulting group)Contrary (a student-run venture capital group)Corprenect (Mtech)Dingman Center for EntrepreneurshipDingman Center AngelsDiscovery DistrictDo Good InstituteDo Good AcceleratorDo Good AmbassadorsDo Good ChallengeEd Snider Center for Enterprise and MarketsenTERPreneur (student entrepreneurship club)Faculty and Graduate Student Startup GuideGlobal Consulting Fellows (run by Center for Global Studies in SmithSchool)Gold Public Health Innovation AwardGraduate Innovation Fellowship (run by AIE)Hinman CEOs ProgramHonors College Entrepreneurship & Innovation Program (EIP)Sustainability FundI-CorpsTechnicaInnovation and Entrepreneurship Minor (run by the Smith School)TechPortInnovation Catalyst ProgramTerp Entrepreneur Network (TEN)Innovate Maryland Consulting Practicum (run by CSVC)iSchool iConsultancy Experiential Learning ProgramTerps MakeathonJohn and Stella Graves MakerspaceTerp Startup Accelerator (run by Dingman)Terrapin Development CompanyLadies First (run by Dingman)Makerspace Initiative (MSI)Terrapin Innovation NetworkMaryland Center for Humanities ResearchTerrapin WorksMaryland Energy Innovation AcceleratorUM Ventures, College ParkMaryland Global Consulting Fellows (run by the Smith School)UMD American Marketing Association RedBlackMaryland Industrial Partnerships Program (MIPS)Consulting (student consulting group)Maryland International Incubator (on hiatus)Virtual Business Information Center (part of UMDMaryland Momentum FundLibraries)Maryland Small Business Development CenterMaster of Professional Studies in Technology Entrepreneurship (Mtech)Michelle Smith Collaboratory for Visual CultureMinor in Technology Entrepreneurship (Mtech)MAVRICMtech VentruesPeer Innovation Coach Program (run by AIE)Pitch Dingman CompetitionQUEST Honors ProgramSingh SandboxSocial Innovation Fellows (on hiatus)Southern Management Leadership Program (formerly the Hillman CEOs)Startup ShellStartup UMDSTEM Library (makerspace)28
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionBOARD OF REGENTSSUMMARY OF ITEM FORINFORMATIONTOPIC: Corporate Training and DevelopmentCOMMITTEE: Economic Development and Technology CommercializationDATE OF COMMITTEE MEETING: Thursday, March 25, 2021SUMMARY: A recent presentation to the Board of Regents by Deloitte indicated that, while“traditional higher education” still accounts for a very large portion of the U.S. educationalmarket segments, the demand for corporate learning and development—as well as newstrategies for learning and credentialling at scale—is growing rapidly.The USM is well-poised move into these new market segments after several years of work ledby the Kirwan Center in the areas of alternative credentials, MOOCs, and corporatepartnerships. Additionally, UMGC and UMBC have been leading efforts to create a moresystematic approach to addressing corporate learning and development needs in the region.However, transitioning to full-service offerings of customized learning opportunities forcorporate clients will require a paradigm shift in the way higher education thinks about itscustomer base, marketing, staffing, content, pedagogical and instructional design approaches,and business models.The Kirwan Center’s Director will update the Economic Development and TechnologyCommercialization Committee on the groundwork that has been done to date, discuss ideas forhow to chart a path forward, and share plans to engage system institutions in exploringcorporate training and development opportunities.ALTERNATIVE(S): This item is for information purposes.FISCAL IMPACT: There is no fiscal impactCHANCELLOR’S RECOMMENDATION: n/aCOMMITTEE RECOMMENDATION:DATE:BOARD ACTION:DATE:SUBMITTED BY: Tom Sadowski 410-576-5742tsadowski@usmd.edu29
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March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionU.S. Educational Market Segments433
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March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionU.S. Educational Market Segments736
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionWho are Our Customers?Now and in the future.IndividualsSeeking Degrees and/or Certificates "Traditional" 18-year-old students 5 years out ofhigh school Adult learners 5 years out of high school (likely withwork or military experience)Corporate /Non-profits/Government Purchasing in "bulk" Upskilling/reskilling employees Part of benefits packageSeeking alternative credentials (could be onDegree/Cert path) Unemployed seeking upskilling Employed seeking upskilling37
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March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionBOARD OF REGENTSSUMMARY OF ITEM FOR ACTIONINFORMATION OR DISCUSSIONTOPIC: USM Office of Economic Development UpdateCOMMITTEE: Economic Development and Technology CommercializationDATE OF COMMITTEE MEETING: Thursday, March 25, 2021SUMMARY: Vice Chancellor Sadowski will provide an update on activities of the USM COVIDResearch & Innovation Task Force and discuss relevant state legislative activity, along with abrief Momentum Fund update due to the recent investment in the University of Baltimoreaffiliated company Dynamhex.ALTERNATIVE(S): This item is for information purposes.FISCAL IMPACT: There is no fiscal impact.CHANCELLOR’S RECOMMENDATION: n/aCOMMITTEE RECOMMENDATION:DATE:BOARD ACTION:DATE:SUBMITTED BY: Tom Sadowski 410-576-5742tsadowski@usmd.edu39
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionUSM Economic DevelopmentBriefing for USM Economic Development andTechnology Commercialization CommitteeFebruary 4, 202140
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionUSM Economic DevelopmentAgendaß COVID-19 Task Force Activityß Legislative Activityß Momentum Fund241
March 25, 2021 Committee on Economic Development & Technology Commercialization - Public SessionUSM COVID Research & Innovation Task ForceOngoing and Forward InitiativesUSM Long-Term Strategy Workshop: Results of two-session internal/external expert discussionshave been summarized and are under discussion.ß Anticipate completed final USM Pandemic Preparedness report this Spring 2021Bioproduction and Vacci
Mar 25, 2021 · Dingman Center for Entrepreneurship Dingman Center Angels Discovery District Do Good Institute Do Good Accelerator Do Good Ambassadors Do Good Challenge Ed Snider Center for Enterprise and Markets enTERPreneur (student entrepreneurship club) Faculty and Graduate Student Startup Guide Global
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12 March 2021 . EMA/CVMP/133239/2021 draft 3 . Committee for Medicinal Products for Veterinary Use (CVMP) Committee for Medicinal Products for Veterinary Use . Draft agenda of March 2021 meeting . Chair: D. Murphy . Vice-chair: G. J. Schefferlie . 16 March, 09:00 – 18 March 2021
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Sep 13, 2021 · 10:00 a.m. Programs and Projects Committee (PPC) 11:30 a.m. Planning, Policy and Legislation Committee (PPLC) 4:00 p.m. Alameda CTC Audit Committee October 28, 2021 : Advisory Committee Meetings : 1:30 p.m. Alameda County Technical Advisory Committee (ACTAC) September 9, 2021 O
SUFFOLK CARE COLLABORATIVE GOALS 26. Governance Board of Directors Finance Committee Workforce Committee Clinical Committee CNA & Cultural Competency & Outreach Committee Compliance Committee Audit Committee IT & BMI Committee 11 DSRIP Project Plans
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