About three times each week, an enterprising researcher at theUniversity of Maryland, College Park, takes a step toward patenting an invention. Each year, that results in the creation of about five new high-tech firms, the kinds of businesses often credited with creating good jobs.
That's a good start, but the school's goal is to double that rate in the next few years. With a small but smartly focused investment by the state, we can get there — and all Marylanders can benefit.
Gov.Martin O'Malley's proposed Maryland Innovation Initiative offers a significant advance to our state's tech-based economic development. It commits $6 million to boost commercialization of university research and creates incentives for statewide collaborations that will strengthen our high-tech sector. Additionally, through tax credits, InvestMaryland will raise $70 million to replenish the state's venture capital fund. This gives vital support to start-up firms.
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