The state's technology development arm said Monday that it has changed key investment programs, will be managing new funds and has launched a program to help companies seeking patents.
The Maryland Technology Development Corp., known as TEDCO, said the changes include raising to $100,000 the amount of funding a startup company can receive for a project from the Maryland Technology Transfer and Commercialization Fund — newly renamed the Technology Commercialization Fund. The maximum had been $75,000.
TEDCO said it is also establishing new funds, including the $10 million Veterans Opportunity Fund for entrepreneurs who served in the military and the $20 million Orange Knocks, for cyber security.
TEDCO's newly announced Patent Assistance Program, meanwhile, is aimed at helping startup firms trying to get patents for technology licensed from Maryland universities. TEDCO said it will also work with five universities — including the Johns Hopkins University and the University of Maryland, Baltimore — to increase the commercialization of research, part of its new Maryland Innovation Initiative.