The University System of Maryland plans to establish a $25 million fund to invest in startup companies created by students, faculty and recent graduates.
The system, which includes 12 of the state's public institutions, would invest $10 million in the Early Stage Investment Fund over four years. Another $15 million would come from the state, the system's foundation and other sources.
A Board of Regents committee approved the fund on Thursday. The full Board of Regents is expected to approve it on Friday.
The Maryland system is one of the nation's biggest spenders on research but lags behind other state university systems in spinning off companies. Officials are pushing...