§ 10-458. Functions

MD Econ Dev Code § 10-458 (2019) (N/A)

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(a) The Initiative may:

(1) provide grant funding or equity investment financing to a qualifying university, qualifying university–based entrepreneur, or other start–up entity, to promote the commercialization of technology developed in whole or in part by a qualifying university;

(2) pursue grants, other funds, and in–kind contributions for the Initiative or its qualifying universities;

(3) develop and implement guidelines for technology transfer; and

(4) identify projects at qualifying universities that may be viable for commercialization.

(b) The grant funding or equity investment financing in subsection (a) of this section shall be awarded:

(1) to support pre–commercial research on intellectual property to increase the likelihood of commercializing the intellectual property;

(2) to defray costs of evaluating the feasibility of a technology becoming commercialized through a start–up company;

(3) to defray the direct costs of developing early stage technology through a start–up entity;

(4) to assess intellectual property issues, including licensing and patents; or

(5) for any other costs that the Initiative’s participating members determine are appropriate to promote technology transfer and commercialization in the State.

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§ 10-457. Maryland Innovation Initiative Fund

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§ 10-459. Proposals for granting funding