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MARYLAND TECHNOLOGY DEVELOPMENT CORPORATION

ORIGIN & FUNCTIONS


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.

Through the Maryland Technology Incubator Program, the Corporation encourages and promotes entrepreneurship and the creation of jobs in technology-related industries. To nonprofit corporations, public entities, or existing incubator programs, the Program provides matching funds for the acquisition and construction of new or expanded space, or the renovation of existing space for incubator facilities (Code Economic Development Article, secs. 10-419 through 10-426).


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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