Md. Code Ann., Econ. Dev. § 10-402
Established
Effective Jan 5, 2022Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008. Amended by Acts 2015, c. 141, § 2, eff. Oct. 1, 2015; Acts 2019, c. 487, § 1, eff. June 1, 2019; Acts 2019, c. 488, § 1, eff. June 1, 2019; Acts 2020, c. 580, § 1, eff. Oct. 1, 2020; Acts 2021, c. 195, § 1, eff. July 1, 2021; Acts 2021, c. 196, § 1, eff. July 1, 2021; Acts 2021, 1st Sp. Sess., c. 13, § 2, eff. Jan. 5, 2022; Acts 2021, 1st Sp. Sess., c. 24, § 2, eff. Jan. 5, 2022.State of Maryland
- (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.
- (d) In accordance with § 10-834 of this title, the Corporation and the Maryland Clean Energy Center shall coordinate with the Maryland Energy Innovation Institute in supporting Maryland-based technology companies engaged in clean energy innovation.
Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008. Amended by Acts 2015, c. 141, § 2, eff. Oct. 1, 2015; Acts 2019, c. 487, § 1, eff. June 1, 2019; Acts 2019, c. 488, § 1, eff. June 1, 2019; Acts 2020, c. 580, § 1, eff. Oct. 1, 2020; Acts 2021, c. 195, § 1, eff. July 1, 2021; Acts 2021, c. 196, § 1, eff. July 1, 2021; Acts 2021, 1st Sp. Sess., c. 13, § 2, eff. Jan. 5, 2022; Acts 2021, 1st Sp. Sess., c. 24, § 2, eff. Jan. 5, 2022.