2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 4 - Maryland Technology Development Corporation › Part VIII - Maryland Small Business Innovation Research and Technology Transfer Incentive Program › Section 10-476 - Application Form -- Award or Investment From Program -- Amounts -- Coordination With Comparable Programs

(a)    An applicant shall submit an application for a Program award or investment on the form that the Corporation requires.
(b)    The Program shall review the application and all supporting materials to evaluate whether the applicant qualifies for an award or investment from the Program.
(c)    (1)    Subject to the availability of money in the Fund and paragraph (2) of this subsection, the Program may provide to an eligible small business an award or investment to match in part a small business innovation research award or small business technology transfer award.
(2)    The Program shall prioritize providing awards and investments to eligible small businesses that are engaged in research and development activities that assist in the prevention of, preparedness for, or response to a public health crisis in the State.
(d)    Except as provided in subsection (f) of this section, a small business that receives an award or investment for a Phase I small business innovation research award or small business technology transfer award shall receive an award or investment in an amount that is the lesser of:
(1)    25% of the Phase I small business innovation research award or small business technology transfer award; or
(2)    $25,000.
(e)    Except as provided in subsection (f) of this section, a small business that receives an award or investment for a Phase II small business innovation research award or small business technology transfer award shall receive an award or investment in an amount that is the lesser of:
(1)    25% of the Phase II small business innovation research award or small business technology transfer award; or
(2)    $75,000.
(f)    On the recommendation of the Executive Director, the Board may approve an award or investment in a small business in excess of the limitations specified under subsections (d) and (e) of this section if the Board determines that the award is necessary to better serve the community and the purposes of the Program.
(g)    During each fiscal year:
(1)    the Corporation may not provide more than 20 awards or investments in accordance with subsection (d) of this section or more than 10 awards or investments in accordance with subsection (e) of this section; and
(2)    a small business may not receive more than one award or investment.
(h)    A small business may not receive more than three awards or investments under this part.
(i)    (1)    Subject to paragraph (2) of this subsection, each quarter, the Corporation shall provide awards and investments on a competitive basis to eligible small businesses.
(2)    In providing an award or investment under this section, the Corporation:
(i)    shall consider:
1.    the impact of the award or investment on the small business; and
2.    how the small business will utilize the award or investment toward commercialization of the research conducted by the small business; and
(ii)    may consider any additional criteria specified by the Corporation in regulation.
(j)    The Program shall coordinate with comparable State and county programs to:
(1)    conduct marketing and outreach, including conducting joint workshops, online training opportunities, and outreach to economically disadvantaged small businesses, minority–owned small businesses, women–owned small businesses, rural small businesses, and first–time small business innovation research award or small business technology transfer award applicants; and
(2)    provide assistance to eligible businesses under this part.