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MARYLAND TECHNOLOGY DEVELOPMENT CORPORATION

ORIGIN & FUNCTIONS

[photo, 5575 Sterrett Place, Columbia, Maryland] The Maryland Technology Development Corporation began in 1998 as the Maryland Science, Engineering, and Technology Development Corporation, a public instrumentality of the State (Chapter 661, Acts of 1998). Effective July 1, 2000, the Corporation was renamed the Maryland Technology Development Corporation (Chapter 13, Acts of 2000). The Corporation helps businesses get started and grow through the commercialization of technology developed by university researchers, in the private sector, and in federal laboratories in Maryland.

5575 Sterrett Place, Columbia, Maryland, November 2004. Photo by Diane F. Evartt.

The Corporation invests in very early stage companies to encourage the transfer of technology and administers the Maryland Technology Incubator Program. During the start-up phase, the Program provides newly formed companies with office space, business services, technical assistance, and other resources, such as conference rooms and Internet access (Chapters 597 & 598, Acts of 2001).

BOARD OF DIRECTORS

Governing the Corporation is the Board of Directors which consists of fifteen members. Fourteen members are appointed to four-year terms by the Governor with Senate advice and consent. One member serves ex officio (Code Economic Development Article, sec. 10-403).

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