The Corporation helps businesses get started and grow through the commercialization of technology developed in Maryland by university researchers, the private sector, and federal laboratories. Throughout all regions of the State, the Corporation seeks to create and sustain business, and create jobs in technology-related industry.
TECHNOLOGY COMMERCIALIZATION FUND
MARYLAND INNOVATION INITIATIVE
MARYLAND STEM CELL RESEARCH FUND
BUSINESS INCUBATION & ENTREPRENEURIAL DEVELOPMENT
Through the Maryland Technology Incubator Program, the Corporation encourages and promotes entrepreneurship and the creation of jobs in technology-related industries. To nonprofit corporations, public entities, or existing incubator programs, the Program provides matching funds for the acquisition and construction of new or expanded space, or the renovation of existing space for incubator facilities (Code Economic Development Article, secs. 10-419 through 10-426).
TECHNOLOGY TRANSFER & COMMERCIALIZATION
Within Technology Transfer and Commercialization are two units: Federal Lab Partnerships, and Technology Commercialization Funds.
Through the Technology Commercialization Fund, the Corporation provides seed funding to early-stage technology companies that are economically viable but have not attracted venture capital investment. The Corporation assists the companies to raise additional funding from federal government grants, private investors, and product sales.
UNIVERSITY PARTNERSHIPS
University Partnerships formed in 2012 and is responsible for two programs: the Maryland Innovation Initiative, and the Maryland Stem Cell Research Fund.
The Maryland Innovation Initiative was created within the Maryland Technology Development Corporation in July 2012 (Chapter 450, Acts of 2012). The Initiative promotes the commercialization of research conducted in universities in the State. It encourages qualifying universities to partner with each other and with federal laboratories located in Maryland on commercialization and other activities. The Initiative also works to facilitate the transfer of technology from universities to commercial industries.
The Maryland Stem Cell Research Fund was created in 2006 (Chapter 19, Acts of 2006). Through grants and loans to public and private entities in Maryland, the Fund promotes stem cell research leading to prevention of and medical treatments for human diseases. The Fund receives appropriations through the State budget and may accept money from any other source for the benefit of the Fund (Code Economic Development Article, sec. 10-434).
MARYLAND STEM CELL RESEARCH COMMISSION
The Maryland Stem Cell Research Commission was established in 2006 as an independent
entity within the Maryland Technology Development Corporation (Chapter 19, Acts of 2006). The Commission develops regulations to ensure that stem cell research, financed by the Maryland Stem Cell Research Fund, complies with State law. In addition, the Commission establishes guidelines, criteria, and procedures for the review, evaluation, and award of grants and loans from the Fund (Code Economic Development Article, secs. 10-431 through 10-442).
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e-mail: mdmanual@mdarchives.state.md.us