Empowering Technology Innovators for a Thriving Future.
Are you ready to transform your technology idea into a thriving business?
The Maryland NEW VENTURE Program at bwtech offers a unique opportunity to bring your vision to life. Designed for aspiring entrepreneurs, this immersive 12-week program pairs you with a dedicated experienced mentor and a team of UMBC Odyssey Fellows (graduate students), providing the resources and support you need to validate your concept and develop a compelling business pitch.
- Applications Deadline: December 4, 2024
- Cohort Announced: January 2025
- Start Date: January 27, 2025
- Pitch Night: May 12, 2025
Program Details
Once the technology solution ideas are selected and the technologist/entrepreneurs are notified, they will be paired with appropriate Fellow Graduate Students and Mentors.
Teams will meet virtually on Monday evenings as well as participate in weekly working meetings with their teams using a systematic approach that includes weekly agendas, assignments, milestones, and deadlines.
Mentors will use their extensive networks to help advance the projects toward commercial success.
The Fellow Graduate Students will complete assignments from the technologists and mentors to support the validation of the idea and develop a pitch deck that includes customer discovery interviews, market research, pricing and licensing, building a budget, and implementation plans for the idea.
All team members will participate in educational presentations from leading experts in areas such as finance and marketing, and will have required reading.
How the program works
Participants engage in weekly, virtual program sessions led by industry experts, including experienced startup entrepreneurs, TEDCO, MD Tech Council, and I-Corps. These experts offer specialized, structured training on vital business topics such as fundraising strategies, finance, pricing, business development, and regulatory navigation.
In addition, teams meet in person weekly for a deep dive into the validation process and to develop a comprehensive business pitch deck. The program culminates in Pitch Night, where each team showcases how they validated their tech solution with an exhibit. Entrepreneurs will also pitch their concepts to a panel of judges, receive valuable feedback, network with potential investors and collaborators, and compete for cash prizes!
Highlights
Collaborative Team Structure: Work closely with a seasoned mentor and a dynamic group of talented graduate students. Together, you will navigate the challenges of launching a new venture.
Customer Discovery Focus: Learn the essentials of customer validation through in-depth research and hands-on interviews. Understand your market, refine your idea, and ensure your solution meets real-world needs.
Pitch Deck Development: Throughout the program, you’ll create a comprehensive pitch deck that effectively communicates your innovative solution. Gain critical presentation skills to share your ideas with confidence and clarity.
Engaging Exhibit Creation: Showcase your solution through an engaging exhibit that captures the essence of your innovation. This experience will help you connect with potential customers and investors alike.
Selection Criteria
- Must be a Maryland-based Entrepreneur and company.
- Technology solutions must impact society’s need for secure information systems, utilities, infrastructure, and supply chains.
- Technology must be product-related in the following areas: Med Tech, Cybersecurity, AI, and Bio Life Sciences.
ENTREPRENEUR
Your Role: Drive the technological direction for the project and lead a team of Fellows to validate your tech idea and develop a business pitch and showcase exhibit for Pitch Night.
Benefits
- An opportunity to validate and advance your tech idea with free support from Fellows and a Mentor.
- Access to valuable educational resources and networking opportunities with industry experts.
- A platform to showcase your work and gain exposure within MD’s startup ecosystem.
- Opportunities for future partners and funding
MENTOR
Your Role: Guide your team through a validation process and provide feedback and advice to enhance your team’s pitch deck and showcase exhibit materials for Pitch Night.
Benefits
- The opportunity to give back and make a meaningful impact on a startup entrepreneur’s journey.
- Collaboration with a diverse group of talented Odyssey Fellows and industry experts.
- Networking opportunities within Maryland’s vibrant startup ecosystem.
- Potential for future mentorship or consulting opportunities based on program outcomes.
FELLOW
Fellows roles will be populated through UMBC’s Engineering Management Advanced Project Management Application Course Odyssey Program.
2025 Program Schedule
2025 Schedule Summary
Week 1 – 3: Introduction, Team Formation, and Setting the Stage
Kick off the program with an overview of the entrepreneurial landscape. Meet your team, define your goals, and learn the key components of a winning pitch.
Weeks 4-7: Customer and Market Discovery
Dive into customer discovery interviews. Identify your target audience and gather invaluable feedback to validate your concept.
Weeks 8: Developing Your Pitch Deck
Receive guidance on crafting an effective pitch deck. Work collaboratively with your team to distill your idea into a powerful narrative.
Weeks 9-11: Exhibit Design and Preparation
Each team will create an engaging exhibit that showcases how they validated their tech idea, demonstrating the research and processes behind their concepts, and illustrating their steps to ensure their ideas meet market needs and customer expectations. This is a valuable opportunity to highlight the effectiveness of their validation methods and the impact on their overall.
Weeks 12: Showcase & Final Pitch
Each team will showcase their work on a table display. Entrepreneurs will present their pitches to a panel of judges and industry experts, receive valuable feedback, and network with potential investors and collaborators.
Join Us!
Entrepreneurs! Take the first step towards bringing your innovative idea to life.
2024 Maryland NEW VENTURE Program Results
Sponsors
The Maryland NEW VENTURE Program is made possible through the support of our sponsors and the strength of the bwtech@UMBC community.
