University of Maryland Baltimore

University of Maryland, Baltimore (UMB), Office of Research and Development is recruiting for a New Ventures Associate. 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.

BENEFITS (Exempt Regular):

UMB offers a comprehensive benefits package that prioritizes wellness, work/life balance, and professional development. This position participates in a retirement program (pension or optional retirement plan/ORP) that must be selected and is effective on your date of hire. Exempt regular staff receive a generous paid leave package that includes over 4 weeks of vacation accrued each year, 15 paid holidays, 3 personal leave, unlimited accrual of sick time, and comprehensive health insurance; professional learning and development programs; tuition remission for employees and their dependents at any University System of Maryland school; and flexible work schedules and teleworking options (if applicable per job).

UMB is Ranked Among the Best Employers for Diversity by Forbes 2022 & 2023.

ESSENTIAL FUNCTIONS:

• Provides project management and commercialization leadership for specific UMB Center for Maryland Advanced Ventures (CMAV) and REACH Grant projects, 
• Works closely with UMB researchers, clinicians, UM Ventures professionals and external consultants to continuously measure strengths and weaknesses of UM Ventures supported projects in order to maximize value and commercial viability of overall portfolio.
• 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

MINIMUM 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: One (1) year of progressively responsible business experience in medical device, biotech, pharmaceutical, healthcare IT 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 healthcare IT and/or medical device development preferred. 

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.

Hiring Range: $87,000 - $100,000 per year (Commensurate with education and experience)

UMB is an Equal Opportunity/Affirmative Action Employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law or policy. For assistance related to employment, please contact the Staffing department at HRJobs@umaryland.edu. 

If you anticipate needing a reasonable accommodation for a disability under the Americans With Disabilities Act (ADA), during any part of the employment process, please submit a UMB Job Applicant Accommodation Request. You may also contact HRDiversity@umaryland.edu. Please note that only inquiries concerning an ADA request for reasonable accommodation will be responded to from this email address.

Job

Reg or CII Exempt Staff - E4100G Exempt Regular Full-Time

Shift

Day Job Yes

Organization

Research and Development - Technology Transfer

Job Posting

Jan 11, 2024

Unposting Date

Ongoing