Md. Code Regs. 14.04.02.06

Current through Register Vol. 51, No. 24, December 2, 2024

Section 14.04.02.06 - Amount of Money Available for Investment

A. In General. The amount of money available for investment shall vary from investment program to investment program.

B. Amount for Each Investment Program.

(1) Pre-Seed Builder Fund and Inclusion Fund. TEDCO may make an investment of up to $500,000 in each business selected for participation in the Pre-Seed Builder Fund or the Inclusion Fund.

(2) Rural Business Innovation Initiative Program. TEDCO may invest up to $25,000 per investment.

(3) Seed Funds. TEDCO may invest:

(a) For Cybersecurity Investment Fund and Technology Commercialization Fund, up to $500,000 per investment;

(b) For the Life Science Investment Fund, up to $500,000 per investment; and

(c) For the GAP Fund, up to $750,000 per investment.

(4) Maryland Venture Fund. TEDCO may invest $250,000 to $1,500,000 per investment.

(5) Maryland Equity Investment Fund. TEDCO may invest up to $2,000,000 per investment.

C. Exceptions.

(1) The Board may increase or decrease the investment cap described in §B of this regulation at the request of the Chief Executive Officer and in accordance with any limitations of the appropriation.

(2) If the Board modifies an investment cap under §B of this regulation in accordance with this §C of this regulation, TEDCO shall publish the modified investment cap on its website.

Md. Code Regs. 14.04.02.06

Regulation .06 adopted effective 46:26 Md. R. 1167, eff. 12/30/2019; amended effective 49:4 Md. R. 302, eff. 2/21/2022; amended effective 50:18 Md. R. 800, eff. 9/18/2023