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7 August 2012

Maryland universities back fund

The Maryland Innovation Initiative Fund will be run by the Maryland Technology Development Corporation (Tedco). The state is providing $5m with the remainder coming from five local universities.

Author: James Mawson

The US State of Maryland has this month set up a $5.8m university venturing fund to work with 40 projects per year.

The Maryland Innovation Initiative Fund will be run by the Maryland Technology Development Corporation (Tedco). The state is providing $5m with the remainder coming from five local universities.

Johns Hopkins University, University of Maryland College Park and University of Maryland, Baltimore, are each committing at least $200,000 per yea, while the University of Maryland, Baltimore County, and Morgan State University will contribute at least $100,000 per year.

Rob Rosenbaum, Tedco's president and executive director, said: "We have so much research but commercialization is needed. We have to stimulate that activity."

Rosenbaum said the 40 projects would lead to 12 to 15 new companies.

Copyright Mawsonia Limited 2010. Please don´t cut articles from www.globaluniversityventuring.com or the PDF and redistribute by email or post to the web without written permission.

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