Subject to the availability of money in the Fund, TEDCO shall provide an award to selected applicants as follows:

1. A. For Phase I SBIR award or STTR award applicants, an award under the Program shall be the lesser of:

   1. (1) 25 percent of the Phase I SBIR award or STTR award; or
   2. (2) $25,000.

2. B. For Phase II SBIR award or STTR award applicants, an award under the Program shall be the lesser of:

   1. (1) 25% of the Phase II SBIR award or STTR award; or
   2. (2) $75,000.

Authority: Economic Development Article, §10-462, Annotated Code of Maryland

Effective date:

Regulations .01 — .07 adopted effective March 17, 2025 (52:5 Md. R. 238)