CHESAPEAKE BAY SEED CAPITAL FUND

A Scholar's Program for Industry-Oriented Research in Engineering

Chesapeake Bay Seed Capital Fund

The Chesapeake Bay Seed Capital Fund is an investment fund that supports early-stage startup companies developing technologies that aid in the restoration of the Chesapeake Bay.

The Chesapeake Bay Seed Capital Fund invests in promising early-stage technology companies and related projects that:

  • Reduce nitrogen, phosphorus, and sediment to the Chesapeake Bay and its local tributaries, specifically from:
  • Agricultural lands including cropland, pasture, and animal production
  • Urban and agricultural stormwater runoff
  • Other nonpoint sources such as septic systems
  • Mitigate climate change impacts by reducing atmospheric greenhouse gas emissions from the energy, transportation, and agricultural sectors
  • Utilize natural filters and living resources to reduce nutrients, sediment, and greenhouse gas emissions
  • Provide climate adaptation or resilience benefits

The Fund provides access to dilutive capital to qualified companies and projects as described below:

Investment Type: Preferred Equity, Convertible Debt, SAFE Notes, profit-share agreements

Initial Investment: Up to $150,000; all-in including follow-on investment(s) of up to $300,000

The Chesapeake Bay Seed Capital Fund is looking for companies that meet the following criteria:

  • Company can demonstrate a positive impact on the Chesapeake Bay as a result of their solution
  • 50% of full-time employees must be located in Maryland
  • Economic benefit to Maryland (incl. green job creation)
  • Potential to generate market returns
  • Seed stage: companies in early commercialization development stages (i.e., advanced beyond prototype)
  • Clear milestones with reasonable chance to achieve (including funding)

Applications are accepted on a rolling basis. For more information, please direct your inquiries to Scott Christensen at schris14@umd.edu. To apply, please submit your company’s pitch deck (what’s in a pitch deck?) to Scott Christensen.

Industries of Interest

The Chesapeake Bay Seed Capital Fund is looking for investments in the following industries. Please note that this list is not all-inclusive. If you think that your company might fit the criteria for the fund, please apply.

Chesapeake Bay Seed Capital Fund Team

Advisory Board

  • Jolene Gurevich - Director of Fellowship Experience, Breakthrough Energy
  • Andrew Rose - Managing Director - Agriculture and Food, Global Deployment Partners
  • Dan Goodman - Managing General Partner, Sandy Spring Climate Partners
  • Mike Ravenscroft - Managing Director, Maryland Momentum Fund
  • Faith Davis - Lead, Climate Change Investment Initiative, Exelon Corporation
  • John Paul Moscarella - international clean energy and climate finance executive
  • Mike Ducker - Associate Director, Maryland Energy Innovation Accelerator (MEIA)

Investment Executive Committee

  • Bill Bentley - Robert E. Fischell Distinguished Chair & Inaugural Director of the Robert E. Fischell Institute for Biomedical Devices Fischell Department of Bioengineering, University of Maryland
  • Dean Chang - Chief Innovation Officer, University of Maryland, College Park
  • Greg Oler - Chief Financial Officer, University of Maryland, College Park
  • Stan Smith - Managing Director, UMCP Ventures
  • Nigel Long - Senior Managing Director, Trade Street Advisors (non-voting)

University of Maryland, College Park Venture Funds (UMCP Ventures)

  • Sarah Lane - Center Director (Maryland Department of Natural Resources)
  • Stan Smith - Managing Director (Office of the Chief Innovation Officer)
  • Scott Christensen - Manager (Mtech)
  • Anntoinette Barbour - Business Operations (Office of the Chief Innovation Officer)
  • Sammy Popat - Donor/Investor Relations (Office of the Chief Innovation Officer)

Portfolio Companies

Neighborhood Sun is bringing community solar to the 80% of Americans who cannot access rooftop solar.

N5 Sensors is commercializing sensor technology to detect wildfires.

Datakwip integrates with your existing systems and fills in your data gaps to provide energy consumption, cost, and improvement insights — no hardware needed.

Dynamhex makes carbon emissions measurement, reporting, and reduction easier.

PaverGuide creates clean runoff by advancing permeable pavement through lowering costs, improving pollutant removal, and reducing environmental impacts.

Aqualith Advanced Materials is commercializing new battery technology including an ultra-high energy cathode, a novel silicon anode, and a non-flammable aqueous electrolyte.

Manta Biofuel is using algae to make a cost-competitive, renewable replacement for crude oil.

Advanced Bionutrition offers environmentally sustainable and science-based bioactive stabilization and delivery solutions to the agricultural industry.

Overview

The Chesapeake Bay Seed Capital Fund invests in companies with innovative solutions that can help improve air and water quality in the Chesapeake Bay watershed.

Investments are jointly selected by investment staff at the Maryland Technology Enterprise Institute (Mtech) and technical staff at the Maryland Department of Natural Resources (DNR).

Funding

We invest $100,000-$500,000 in seed and Series A rounds of funding for direct commercialization efforts. We also co-invest with other funds in situations where our funding can leverage additional resources for the startup.

Industries of Interest

The Chesapeake Bay Seed Capital Fund is looking for investments in the following industries. Please note that this list is not all-inclusive. If you think that your company might fit the criteria for the fund, please apply.

Criteria

We are looking for companies that:

  • Have a product prototype
  • Can demonstrate product-market fit
  • Have a thoughtful commercialization plan
  • And can demonstrate a quantifiable reduction in nitrogen, phosphorous and/or sediment in the Chesapeake Bay as a result of their solution

Applications are accepted on a rolling basis.

Select Portfolio Companies

Manta BiofuelSmartSlopeZymetis

Team

Please reach out to Scott Christensen at schris14@umd.edu if you have any questions.

apply!