Richard Steffens

Principal, TTSE Tech, LLC

Richard Steffens has over 30 years’ experience as a senior government official, diplomat, venture capitalist and entrepreneur supporting innovative companies with growth and global expansion. In his role at TTSE, he helps high tech companies secure U.S. government funding, state and local government incentives, and private capital for R&D, project finance, and expansion capital. Mr. Steffens has specific expertise in securing financing for semiconductor firms (via the 2022 CHIPS and Science Act), national security supply chain firms (via DPA Title III, OSC, and SBIR programs), and advanced and critical materials projects (via the DOE LPO and 48C programs.) Since founding TTSE in October 2022, Mr. Steffens has secured over $7 million in capital for early-stage firms despite the challenging financial environment.

Prior to founding TTSE, Mr. Steffens served as U.S. Department of Commerce Deputy Assistant Secretary/Director for Asia (2020-2022), where he spearheaded the investment attraction effort leading to the TSMC $40B semiconductor project in Arizona. He was Deputy Assistant Secretary/Director for Western Hemisphere (2015-2020), where he spearheaded the regional roll-out of the SelectUSA program which attracted $20B in global manufacturing investment in the U.S. He had a 20-year career as a U.S. diplomat serving in Asia, Europe, and North America, rising to the rank of Minister-Counselor (two-star general equivalent). As a diplomat, he was instrumental in the negotiations of the $150 million World Bank Ukrainian hydro project, the $200 million rebuilding of Iraq’s major oil refinery, and the $40 billion Sakhalin off-shore oil projects.

Before joining the Foreign Service, he managed New Jersey’s seed fund under Governor Thomas Kean, where he helped early-stage firms access over $150 million in federal R&D funding. He served as Assistant Director for Research with the Fels Center at the University of Pennsylvania, a think tank which supported the formation of early technology hubs and community development banks. He is a graduate of the Wharton School and holds a Masters in Government Administration from the University of Pennsylvania. He is author of Secrets of a Venture Capitalist, the Changing Software Market, has published over 50 articles, and has been interviewed on business topics by the BBC, 60 Minutes, and various media on three continents and in five languages.