The purpose of the Initiative is to:

1. (1) promote the commercialization of research conducted in universities in the State;
2. (2) encourage qualifying universities to partner on commercialization and other activities, including with federal laboratories located in Maryland; and

3. (3) facilitate the transfer of technology from universities to commercial industries, by:

   1. (i) assessing the viability and value of the technology;
   2. (ii) defining and exploiting potential markets for the technology;
   3. (iii) identifying funding sources to support the development of the technology; and
   4. (iv) developing commercialization strategies.

Added by Acts 2012, c. 450, § 1, eff. July 1, 2012. Amended by Acts 2020, c. 580, § 1, eff. Oct. 1, 2020.