In General. In addition to the investment criteria set forth in 14.04.02.05, TEDCO shall consider the following investment criteria:

1. A. Whether the market opportunity is appropriate for venture-stage investment;
2. B. Whether the applicant, at the time it submits an application to TEDCO, is raising a minimum investment round of $2 million;
3. C. Except for life sciences businesses, whether the applicant’s quarterly revenues equal or exceed $250,000;
4. D. Whether the investment has the potential to generate returns of two times the amount of TEDCO’s invested capital not more than 8 years from the date of the investment;
5. E. Whether the applicant presents a plausible exit strategy for investors;
6. F. Whether the applicant can provide access to or information about its partners and customers;
7. G. Whether the management team has the skills and ability to effectively secure an institutional venture investment or effectuate a successful exit for investors;
8. H. Whether the applicant has the potential to secure institutional venture capital from other investors concurrent with Maryland Venture Fund; and
9. I. Except for life science businesses, whether the applicant’s annual growth rate equals or exceeds 20 percent.

Authority: Economic Development Article, §§10-409 and 10-4A-27, Annotated Code of Maryland

Effective date: December 30, 2019 (46:26 Md. R. 1167)

Regulation .03B amended effective September 18, 2023 (50:18 Md. R. 800)

Regulation .05 amended effective February 21, 2022 (49:4 Md. R. 302)

Regulation .05B amended effective February 22, 2021 (48:4 Md. R. 178)

Regulation .05C repealed effective September 18, 2023 (50:18 Md. R. 800)

Regulation .07C amended effective February 21, 2022 (49:4 Md. R. 302)