Author Archives: Angela Hongmannivanh

Cost Savings Program

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How will you communicate your news to investors? Through Business Wire, that’s how!

Business Wire provides all the tools you need to quickly, broadly communicate your news to investors, analysts, the media and other audiences.

At Business Wire, security and transparency are of the utmost importance and they strive to excel at both on a daily basis. In that light, they disclosed their Business Wire Security Commitment document as well as their distribution fact sheet. These documents describe the services provided as well as information on how your press releases are distributed and who they are delivered to. 

Filing an IPO and taking your company public is a long process that requires a comprehensive communications plan.

The Maryland Tech Council has aligned with Business Wire to help you effectively distribute your news releases at preferred pricing!

 Features for MTC Members Include: 

EDGAR Formatting and Filing
Business Wires’ expert in-house EDGAR team can format and file all of your required SEC documents.

InvestorHQ
Business Wire’s InvestorHQ, a complete IR site, offers automatic posting of your Business Wire press releases, along with stock quotes, financing statements, annual and quarterly reports, site analytics and much more.

Webcasting Services
A comprehensive, reliable communication solution is crucial to a successful webcast. Business Wire’s webcasting service is operated by an in-house team of communications experts who will oversee your event, from start to finish.

Member companies can save a minimum of 10% on all news release distribution circuits and more when you bundle in any of the additional services.

To learn how you can save money on your news distribution and all cost savings programs, visit our website at http://www.mdtechcouncil.com/membership/savings-mtc.php

Government Relations

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Maryland Governor Announces New Initiative Aimed at Innovation Employers

Maryland Governor Larry Hogan recently announced a new, comprehensive statewide, economic development strategy called EXCEL MARYLAND. The initiative focuses on developing new collaborations to accelerate growth in the life sciences and cybersecurity industries. In focusing on sectors where Maryland already leads, EXCEL MARYLAND will pool the talents of state agencies, universities, and private sector industry experts.

The new effort will be guided by a steering committee in which Maryland Tech Council  (“MTC”) plays a prominent role. Membership on the Steering Committee includes MTC members MedImmune (Executive V.P. Dr. Bahija Jallal), Lockheed Martin (General Manager Stephanie Hill), Emergent BioSolutions (Daniel Abdun-Nabi), Tenable Network Security (Co-Founder Ron Gula), New Enterprise Associates (Managing Partner Peter Barris) and Convergence Technology Consulting (CEO Larry Letow).

Significantly, and in mark contrast with other Maryland initiatives, Governor Hogan has enlisted the assistance of a former leader of one of Maryland’s competitor states. The steering committee will be headed by Dr. Susan Windham- Bannister, the founder and first CEO of the Massachusetts Life Sciences Center (“the Center”). The Center is a quasi-public organization charged with managing the 10-year $1 billion Life Sciences Initiative enacted by the Massachusetts Legislature in 2008.  A hallmark of her tenure in Massachusetts was spreading the benefits of the initiative statewide and to a diverse population.

The steering committee is on a fast track and is due to deliver a report to the Governor by September 1, 2017. The report will serve as a road map on how Maryland will keep its position as the national leader in cybersecurity and advance in the biohealth and life sciences sectors.

Member Spotlight

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GROWING NEED FOR BIOANALYTICAL SERVICES BY CLIENTS RESULTS IN SECOND LABORATORY EXPANSION IN TWO YEARS FOR SMITHERS AVANZA

Smithers Avanza is a contract research organization (CRO) supporting the pharmaceutical industry, whose Scientists have expertise in large molecule bioanalysis, assay development, validation and sample analysis at their GLP- and GCP-compliant and CLIA certified laboratory. Smithers Avanza Bioanalytical Services Division  supports the development of biologics and vaccines from discovery through phase IV, with expertise that includes bioassays and high sensitivity assays. Smithers Avanza also offers preclinical toxicology and vaccine testing at their AAALAC accredited facilities.

New Space & Increased Capacity Will Support Client Requests for Testing of Large Molecule Biotherapeutics –

Smithers Avanza, announced that its Bioanalytical Services Division has completed the second expansion of its bioanalytical laboratory in the last two years. The expansion doubles the size of the Gaithersburg, Maryland lab, which now offers 15,000 square feet of space, and continues the trend of growth in support of client demand for services.

Smithers Avanza celebrated the completed expansion and the renewal of their commitment to doing business in Maryland with clients, employees, state and local officials and community friends with an Open House on Wednesday, May 17, 2017.

smithers-ribbon-2Ira S DuBey, Executive Vice President, Bioanalytical Services
Phyllis Conliffe, Executive Director, Bioanalytical Services

“We are very fortunate to count some of the world’s leading biopharmaceutical companies as our clients and friends,” said Ira DuBey, Executive Vice President, Bioanalytical Services Division, Smithers Avanza. “Through these relationships, we are given an opportunity to grow in order to be the best possible partner, which often involves a need for additional space, staff and new equipment to meet an increasing volume of projects.”

Following the expansion, the company has already added several new staff members, including senior scientific and support personnel. These new staffers will allow Smithers Avanza to continue to support client development of large molecule biologics including immuno-oncology drugs and combination therapies. Further, the company acquired new liquid handling robotics instrumentation and another Singulex instrument. This equipment will help meet the growing need for testing of high sensitivity biomarker and pharmacokinetic assays.

As part of the expansion, the company is augmenting its lab’s capabilities through new instruments such as the recently added Gyros GyroLab xPS workstation as well as the Simoa HD-1 Analyzer from Quanterix.

Smithers Avanza has been an active member of the Maryland Tech Council for over 10 years.

For more information about the Smithers Avanza portfolio of services, visit www.smithersavanza.com or contact Hope Aubin, 508-295-2550 haubin@smithers.com

 

Government Relations

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Legislative Update

The 2017 Maryland General Assembly session has ended!  This “lightning” summary will tell you the outcome of the legislation that MTC and its Legislative Committee identified as priorities for Maryland innovation employers. 

A.  Price Gouging Bills:
HB 631/SB 415- Public Health – Essential Generic Drugs – Price Gouging – Prohibition –ENACTED

Maryland became the first state in the nation to authorize its Attorney General to pursue legal action against drug manufacturers and wholesalers who raise drug prices to “unconscionable” levels. MTC worked to have this bill restricted to those who act in an “unconscionable” manner and not have it involve responsible companies.

B.  Drug Transparency Bills:
SB 437/HB 666 – Public Health – Expensive Drugs – Manufacturer-Reporting and Drug Price Transparency Advisory Committee- DEFEATED

These bills originally would have required drug manufacturers to provide exhaustively detailed reports to Maryland’s Attorney General about internal costs that led to final drug prices. MTC opposed these bills as simplistic in their approach to drug pricing and misleading to the public.

C.  Research and Development Tax Credit Increase:
SB 200/HB 240-Income Tax Credit – Qualified R&D Expenses –ENACTED

These bills increase the total statewide limit on the tax credit for in-state R&D activities from $9 million to $12 million. MTC supported these bills.

D.  Biotechnology Tax Credit Changes:
SB 226 /HB 373 – Biotechnology Investment Tax Credit “BIITC”-ENACTED

These bills extend the eligibility period for this tax credit from the first 10 years of a bio-tech companies life to the first 12 years. Additionally, the eligibility for young companies awaiting regulatory approval is extended to 15 years.

The bills also allow entities to apply for the credit within 2 months of forming a company.

E.  Cyber-security Tax Credit Changes:
HB 378/SB 318 – Cybersecurity Investment Incentive Tax Credit-DEFEATED

These bills allow investors in cyber companies to take advantage of this tax credit. In addition, it allows new cyber entities to be eligible for the credit within 2 months of forming a company.

F.  Laboratory Registration:
HB 1172/SB 400-Department of Health and Mental Hygiene (DHMH) – Biosafety Level 3 Laboratories –DEFEATED

These bills would have required laboratories handling Biosafety level 3 material to register with the Maryland’s DHMH. MTC opposed this legislation as duplicative of federal registration and not useful to first responders.

In regards to the efforts in the drug pricing bill, over the course of the 2017 session, the Tech Council:

  • Developed petitions attracting 4,366 signatures by Marylanders calling for lawmakers to support innovation-friendly legislation in our state.
  • Launched a campaign that allowed 337 Marylanders to send 904 letters to their representatives in Annapolis.
  • Engaged legislators on social media to encourage them to oppose the bills.
  • Launched a statewide radio ad talking about the impact of this legislation.
  • Ran digital advertisements through a homepage takeover the Annapolis Capital Gazette twice, around key moments in the legislative process – linking to a blog post where lawmakers, lobbyists and staff could find more information.
  • Served Facebook advertisements to people within one square mile of the Annapolis statehouse, linking to the same blog post giving influencers more information.
  • Targeted LinkedIn advertising to Marylanders with legislative job titles, including “state senator,” “delegate,” “legislative aide,” “legislative director,” and more directing to a post I wrote with more information.
  • Throughout the course of the campaign, the Tech Council served 216,114 total ad impressions (how many times an ad was seen) to its target audiences – including 36,971 from the Capital Gazette homepage takeovers, 177,679 from Facebook advertising campaigns, and 1,464 from the LinkedIn advertising campaigns.

Member Spotlight

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Alexander & Cleaver

Alexander & Cleaver is a legal and lobbying firm based in Annapolis, and the Maryland Tech Council recently met with Camille Guevara Fesche, an attorney and government relations consultant, to talk about the firm.

Tell us about Alexander & Cleaver and the types of clients with whom you work.

The firm was founded in 1985, and the primary focus in our Annapolis office is government relations which encompasses legislation and public policy, crisis management, procurement, ethics and campaign finance, and regulatory issues. We work with a variety of professional associations and private sector companies.

What does the day-to-day work in the firm look like?

A large part of what we do is lobbying which is essentially educating. We are engaged in year-round monitoring of legislative sessions which involves a lot of prep work. We develop a game plan and then follow what is going on in government, specifically with the commissions and work groups. We also track what the budget looks like and determine what the priorities of the government are. Building relationships with and educating legislators is a large part of our work; we give them the tools and information they need to understand our clients’ side of the issue. Activities like these help us develop a strategy for our clients. We also work with government contractors and help by looking for opportunities to see where the client’s products or services can fit with the needs of the agency. We ensure that our clients are well positioned to compete for contracts on the local, county, municipal, and state levels.

What types of trends are you seeing?

There are a lot of new subject areas in law that have come about due to technology like autonomous cars for example. There are also new classes of pharmaceuticals, like biologics, and different types of medicines. With these new areas of law we are seeing an opportunity to build that law to make life better for all Marylanders and ensure the companies choosing that product, their needs and stressors have been expressed and have been understood by legislators. Criminal systems is another area of law that is changing. People are rethinking the implications of it and how they can get released prisoners to become productive members of society. There are some very exciting opportunities out there.

Does your firm work with small businesses? It seems that the process can be a bit intimidating.

We do work with small businesses. For smaller companies that are working on their own, we often recommend that they work with a limited scope and focus on perhaps just a few counties, state agencies or bills that they are trying to push. Many times, a group of small businesses, such a group of tech startups with similar interests like employment or tax credits will get together and hire our firm. Regardless of how companies choose to work, our firm is well-suited for the needs of small businesses.

What can a company expect when they work with you?

We would start with an initial meeting to discuss what the client wants to accomplish. Say, for example, the client doesn’t understand lobbying but wants to sell their product to the seven major counties or they have a product that can work in state agencies. We would help the client create a plan and help open doors so they can close deals.

What challenges does Alexander & Cleaver face?

The biggest issue that I see is that there is always so much more to learn from our clients and about certain subjects. We work on a team model, and we have several lobbyists who work within a large number of specialties which serves as a great resource for information.

What’s is like to work at Alexander & Cleaver?

It’s fast paced, and it’s different every day. The people who work here are very bright and they bring a variety of interests, education, and insight to the job. Everyone is always willing to pitch in and toss around ideas. It’s such a great environment and it really sets us up for success.

What would you like MTC members to know about Alexander & Cleaver? 

Joining an organization like MTC is important because being a member of a group with over 600 voices is more powerful than trying to do it on your own. Legislators believe in public service, but they need to be educated especially in new areas of technology. It’s a constant education. You need to sit at the table and have a voice and when you do, lawmakers will then include you. The lobbying process is difficult for a small company to do, and with their MTC dues, members are getting full value of a lobbyist.

To learn more, contact Camille G. Fesche, Esq. 

Government Relations Consultant | Attorney
Alexander & Cleaver, P.A.
cfesche@alexander-cleaver.com
Phone: (800) 292-Laws

 

Mentoring Services

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Grow your future with the Maryland Tech Council Venture Mentoring Services Program (MTC VMS.)

The MTC VMS program is looking for startup companies in the technology and life sciences field, led by an individual or individuals who work full-time on the business that are preparing to raise their first venture capital or institutional round of financing.

  • Potential Startup Companies whose applications are accepted will have the opportunity to present to potential mentors at a monthly meeting, after which the MTC VMS will facilitate matches with interested mentors.

Prospective mentees should have:

  1. A “tie” to Maryland;
  2. A tech or biotech product or service with proof of concept established in someway;
  3. At least one full time employee (presumably, the CEO);
  4. A direction towards obtaining “series A investments”

About the Program: The Maryland Tech Council Venture Mentoring Service Program (MTC VMS) is a team mentoring program based on a model developed by MIT. The program has been adopted in over 70 communities around the globe; the MTC VMS program is the 50th program. The ultimate goal of the program is to bring employment opportunities and capital to the area in the technology and life sciences fields by helping companies grow faster.

mtcvms-logo

For more information about the program, visit our website at http://mdtechcouncil.com/careers/mentor-opportunities-new.php

 

 

Cost Savings Program

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Speed, reliability, and special savings for Maryland Tech Council members—it’s that simple!

We understand that time is of the essence; the more time you have to devote to your work, the more life-changing analysis and products you can deliver.

So what did we do to help YOU?  MTC has done the homework for you, saving you time and effort, by partnering with UPS to bring members shipping solutions that offers up to 70% off UPS Next Day Air® Services and up to 65% off UPS Worldwide International Services.

Members currently enrolled in the expired FedEx program can expect to see additional savings of 10-20% just by switching to UPS. Existing UPS customers must enroll to take advantage of this exclusive offer.

UPS is the world’s largest package delivery company, and reaches more U.S. ZIP Codes by 8:00AM than FedEx.  Speed, reliability, and special savings for members—it’s that simple!

For specific information about the UPS cost savings program, contact Joseph Walat jwalat@ups.com or membership@mdtechcouncil.com

To learn more, enroll and see the actual member savings, visit our website at  http://www.mdtechcouncil.com/membership/savings-mtc.php

Capital

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University System of Maryland Launches $25 Million Fund to Back Start-Up Companies Formed from Campus Research

The University System of Maryland (USM), has launched its own $25 million early-stage investment fund, called the Maryland Momentum Fund. USM Vice Chancellor J. Thomas Sadowski stated in the system’s press release that the new Maryland Momentum Fund will “…help our entrepreneurs address funding gaps, gain access to other sources of investment capital and gain marketplace footing, further enhancing the system’s high impact on the Maryland economy.” Sadowski also stated, “The endeavor to build on USM’s success in new company creation brings more national prestige to the system.”

The press release goes on to explain the objectives and requirements for the fund:

The fund has a $10 million commitment from the USM in place, and the system is collaborating with UM Ventures and the University of Maryland, Baltimore County (UMBC) to reach out to area venture capitalists and angel investors for an additional $15 million. UM Ventures is a joint initiative of the University of Maryland, Baltimore (UMB) and University of Maryland, College Park (UMCP) to commercialize technologies and expand industry collaboration.

As it approaches the $25 million level, the Maryland Momentum Fund will leverage this financial support to achieve several objectives:

  • Accelerate the success and profitability of USM start-ups
  • Attract promising entrepreneurs and innovators to USM institutions
  • Seize the opportunity to commercialize valuable USM intellectual property
  • Develop long-term financial returns that can be reinvested in future start-ups affiliated with the USM

Eligible companies must be in Maryland. Eligible companies must also be based on USM-owned intellectual property; founded by USM faculty, students, or alumni; or in USM incubators, research parks, or RISE Zones.

Individual investments will range from $50,000 to $500,000 per company. Select investments will require at least a one-to-one match by outside investors.

An external investment board, comprised of successful investors, will set policies, make investment recommendations, and refer potential opportunities. The external investment board will consist of six-to-eight leaders from the private sector, including venture capitalists.

The USM accelerated its efforts in technology commercialization during fiscal year (FY) 2014, when the USM Board of Regents approved the Policy on Investments and Loans to Maryland‐based Businesses that License University Intellectual Property (Policy No: VIII – 14.00). The policy helped establish investments and loans totaling $400,000 in five start-ups during FY 2015 from UM Ventures.

Workforce Development

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Where to Find Employees Online

Expanding your reach among potential job candidates can be a challenge; some resources seem to be too local, while others don’t really target effectively. According to Zane Benefits, the average amount of money that a U.S. company spends to fill an open position is about $4,000 and the process takes approximately 52 days. And, this doesn’t include the time it takes to train new recruits. Social media has taken the lead in recruiting during the last 5-7 years, but that doesn’t mean online recruiting has fully taken a back seat. There are still some very viable options that offer unique tools for hiring managers. Below is a list of the old, the new, and the specialized in online hiring sites.

Glassdoor

Glassdoor is unique in that it not only provides an online space for people to look for jobs, it also gives them insight into companies through employee-provided company reviews, CEO approval ratings, salary reports, interview reviews and questions, benefits reviews, office photos and more. For employers, Glassdoor offers recruiting and employer branding solutions via Glassdoor for Employers. The company says that it has a community of 34 million candidates and it uses data to track recruiting efforts. After you set up an account, Glassdoor offers enhanced profiles, job advertising, and display advertising. Prices are only available through their sales team, but estimates have annual costs for a 500+ employee company at about $8,500.

Source: www.glassdoor.com

Indeed.com

Indeed says that in 2010 it passed Monster.com to become the highest-traffic job website in the United States with over 200 million visits each month. Indeed is a single-topic search engine that is available in over 60 countries and 28 languages. The site aggregates job listings from thousands of websites, including job boards, staffing firms, associations, and company career pages. In 2011, Indeed began allowing job seekers to apply directly to jobs on Indeed’s site and offering resume posting and storage. Indeed also says that it is the number one external source of hiring and provides five times more hires than any other job site. Since over half of job applicants search on mobile, Indeed touts itself as being mobile-friendly for both employers and job seekers.

Source: www.indeed.com

Monster

Monster is the “OG” if you will, of online hiring and has been in the business for over 20 years.

They say they’ve, “…expanded their roots as a ‘job board’ to being a global provider of a full array of job seeking, career management, recruitment, and talent management products and services.” Some recruiters say that Monster has been eclipsed by the newer sites and that it is no longer a preferred option, while others say that Monster has more “active” job seekers who are looking to accept a new position relatively quickly. The site claims that every minute on Monster, 7,900 jobs are searched, 29 resumes are uploaded, and 2,800 jobs are viewed. One of the nice features of Monster is that it conveniently segments its employer solutions for enterprise, staffing, healthcare, government, military veterans, and emerging workforce.

Source: www.monster.com

CareerBuilder

Another pioneer of online hiring is CareerBuilder. Having been around since 1995, the company has only gained more prominence and holds the largest share of online job seekers. According to their Wikipedia page, the company holds its identity to be an “end-to-end human capital solutions company focused on helping employers find, hire, and manage great talent. Combining advertising, software, and services, CareerBuilder leads the industry in recruiting solutions, employment screening and human capital management. It also operates top job sites around the world.” The CareerBuilder site states that their products and services deliver 24 million job applications per month, 80 million job applicants, 60 million resumes, and 4 million aggregated job openings. Their resources for employers include resume database search, job distribution technologies (i.e., job listing tracking), and candidate engagement software (i.e., solutions to keep job candidates connected until they are ready to apply). They also offer background checks, screening software, and supply and demand data.

Source: www.careerbuilder.com

Clearance Jobs

ClearanceJobs was founded by a couple who lived in Northern Virginia in the 1990s. They didn’t launch the site until they moved to Atlanta in 2002 and were spurred on by the need for qualified cleared talent following 9/11. The site operates like other job hiring sites, but its differentiator is apparent in the company’s name. ClearanceJobs serves individuals with active federal security clearances and provides a secure forum for employers to recruit cleared employees. It is the largest career site focused exclusively on candidates with active or current U.S. government security clearances.

Source: www.clearancejobs.com

New Scientist Jobs

New Scientist jobs is an offshoot of New Scientist magazine that was started in 1956 and covers science, technology, health, and public policy. The site offers basic job posting services

and charges $465 for each post which includes a company logo, email alerts that are sent to candidates whose job criteria matches your vacancy, and a reporting dashboard. Jobs can be posted within disciplines such as chemistry, clinical, earth, environment & energy, engineering, life sciences, math & IT, operations, and physics. New Scientist job postings cover North America, Europe, Asia, Africa, Asia Pacific, and Oceania.

Source: www.jobs.newscientist.com

Government Relations

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FINAL COUNTDOWN: Legislature Must Act On The Cybersecurity Investment Incentive Tax Credit

Important Legislation Strengthens Maryland’s Thriving Cybersecurity Industry

Hogan Administration Calls On Legislators To Pass The Cybersecurity Investment Incentive Tax Credit

The Hogan Administration Is Calling On The Legislature To Pass The Cybersecurity Investment Incentive Tax Credit; Failure To Pass This Common Sense Bipartisan Proposal Would Be A Blow To Maryland’s Thriving Cybersecurity Sector.

Under Governor Hogan, Maryland Is Regarded As A National Leader In Cybersecurity 

Governor Hogan: “Maryland is becoming the cyber capital of America. We are home to one of a kind federal assets like the NSA, the U.S. Cyber Command, and the National Cybersecurity Center of Excellence. We already have 1,200 cyber companies and more and more are choosing to locate in Maryland.” (Governor Hogan, Maryland Jobs Initiative, 1/5/17) 

  • Maryland Ranks Third Nationally For Research And Development Intensity. (Michelle Jamrisko and Wei Lu, “Here Are The Most Innovative States In America In 2016,” Bloomberg, 12/22/16)
  • Maryland Ranks Second Nationally For Concentration Of STEM Employment.(Michelle Jamrisko and Wei Lu, “Here Are The Most Innovative States In America In 2016,” Bloomberg, 12/22/16)
  • Maryland Ranks Fourth Nationally In The Number Of Science And Engineering Degree Holders. (Michelle Jamrisko and Wei Lu, “Here Are The Most Innovative States In America In 2016,” Bloomberg, 12/22/16) 

Cybersecurity Investment Incentive Tax Credit

Governor Hogan’s Proposal Will Grow And Continue Maryland’s Standing As A Cyber Security Leader; Current Cybersecurity Investment Incentive Tax Credit Is Underutilized, The Governor’s Proposal Makes The Tax Credit Available To Investors, Rather Than Cybersecurity Companies. “Subject to paragraph (2) of this subsection and subsections (d) and (f) of this section, for the taxable year in which an investment in a qualified Maryland cybersecurity company is made, a qualified investor may claim a credit against the State income tax in an amount equal to the amount of tax credit stated in the final credit certificate approved by the Secretary for the investment as provided under this section.” (“Senate Bill 318,” Maryland General Assembly, 3/14/17)