The New Ventures Associate will aide in accelerating the commercialization of technology by assisting with the UM Ventures company formation effort at University of Maryland, Baltimore (UMB). The New Ventures Associate will report to the New Ventures Principal/Director and assist in accelerating the launch of new University based start-ups and strategic partnerships/joint ventures based on University intellectual property.
UM Ventures is a joint initiative of the MPowering the State Program, bringing the University of Maryland, Baltimore and University of Maryland, College Park together to commercialize discoveries, and create economic impact by engaging partners in industry and social ventures. By encouraging our students and faculty, providing expert advice and business services, more discoveries will reach the market. By engaging directly with external partners we will bring new investment, expanded markets and more startup ventures.
This is an exempt, regular position and offers a generous benefits package that includes 22 vacation days, 14 floating and observed holidays, 15 sick days; comprehensive health insurance and retirement options; and tuition remission for employees and their dependents at any of the University System of Maryland schools.
Essential Functions:
- Performs market research, business planning, financial modeling, and technology assessment for University technologies that may be suitable for start-ups.
- Acts as a liaison with entrepreneurial faculty and strategic partners to identify and facilitate successful start-up activity and obtain research funding.
- Develops and tracks financial/success metric for UMB startup portfolio companies.
- Assists Venture leadership in identifying traditional and alternative sources of funding for newly launching UMB startup companies from state, federal, angel, corporate, venture, and other organizations. Assists in creating presentations and developing grant proposals for funding sources.
- Analyzes start-up business plans and value commercial terms, and assists UMB licensing professionals in reviewing and evaluating business plans submitted by current licensees.
- Helps to cultivate potential management leadership/teams for new UMB startups.
- Represents UMB’s interests at state, or industry related conferences, symposiums and workshops.
- Performs other related duties as assigned.
Qualifications:
Education: Bachelor’s degree in life sciences, finance, business, or a related discipline.
Preferred Education: Master’s degree, MBA, or PhD in life sciences preferred.
Experience: Three (3) years of progressively responsible business experience in medical device, biotech, pharmaceutical and/or medical environment with financial modeling experience; working knowledge of business development and capital related issues encountered by start-ups in high tech environments. Experience with medical device development helpful.
Other: May require financial disclosure.
Knowledge, Skills, and Abilities:
- Possesses a knowledge of position requirements and able to perform position in compliance with all requirements/regulations/laws. Basic knowledge of intellectual property, technology transfer and academic conflict of interest issues. Knowledge of the Small Business Innovation Research (SBIR) funding process.
- Strong financial analysis and valuation skills; ability to interpret financial statements. Demonstrated project/financial management and valuation skills. Ability to make persuasive proposals to third parties.
- Ability to prioritize ongoing and new projects as well as conduct research and gather information.
- Ability to maintain high standards with the work being performed and maintain awareness with trends and influences. Assumes personal responsibility for all outcomes; makes effective and timely decisions; and learns how to effectively use technology. Maintains productivity and uses knowledge strategies to increase knowledge base. Strategic and analytical thinking skills with an ability to solve problems and make decisions.
- Ability to effectively communicate both verbal and written thoughts, ideas, and facts. Writes and presents information in a clear and concise way. Interprets and understands written information and is able to listen attentively to verbal and non-verbal cues that lead to a deeper understanding.
- Ability to work cooperatively with others and demonstrates professional, ethical, respectful, and courteous behavior when interacting with others. Capable of interacting pleasantly and positively with other to meet customer expectations, and provide follow up with customers
If interested, please apply here.
