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Statutes Text

Article - Economic Development


    (a)    There is a Maryland Technology Development Corporation.

    (b)    The Corporation is a body politic and corporate and is an instrumentality of the State.

    (c)    The purposes of the Corporation are to:

        (1)    assist in transferring to the private sector the results and products of scientific research and development conducted by colleges, universities, and federal research institutions in the State;

        (2)    assist in commercializing those results and products;

        (3)    assist in commercializing technology developed in the private sector;

        (4)    foster the commercialization of research and development conducted by colleges, universities, and the private sector to create and sustain businesses throughout all regions of the State;

        (5)    generally assist early–stage and start–up businesses in the State;

        (6)    invest in Maryland–based technology companies and promote the commercialization and growth of technology companies and jobs in the State;

        (7)    build a long–term entrepreneurial capacity and sustained venture capital presence in the State;

        (8)    create pathways to follow–on financing in the State; and

        (9)    foster inclusive and diverse entrepreneurship and innovation throughout the State, which may include initiatives to raise awareness of programs to assist small, minority, and women–owned businesses through marketing and other efforts.

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