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Maryland Gov's Agenda Seeks to Advance Tech Commercialization

January 25, 2012

Building on the momentum of the InvestMaryland initiative passed last session, Gov. Martin O'Malley unveiled a joint venture between the state, federal research labs and academic institutions to accelerate technology commercialization. Under the Maryland Innovation Initiative, participating universities would pay a fee of $250,000 each year and, when leveraged with state funds and private donations, a pool of money would be used to award grants to startup companies seeking to advance research from Maryland labs. The program would be administered by the Maryland Technology Development Corporation (TEDCO). Legislation to establish the program was introduced as SB 239.