Maryland Development Center Designated a High Impact Economic Development Activity
Adelphi MD | April 11, 2016
The University of Maryland Chancellor Robert Caret and the Board of Regents designated MDC as a High Impact Economic Activity (HIEDA) in the State of Maryland. MDC will license several inventions from the Office of Technology Transfer at the University, develop them, and create startup companies to commercialize the resulting products and services. In this process MDC will increase revenues and economic activity in the State and create jobs. MDC will engage with strategic partners and funding agencies and investment groups to fund development and commercialization activities.
“We are honored to have been chosen as a High Impact Economic Development Activity in the State. This designation supports and encourages our work commercializing intellectual property derived from the extraordinary research programs at the University of Maryland,” said Dr. Gil Blankenship, co-founder and Managing Director of MDC.
About High Impact Economic Development Activities
In 2012, Maryland State House Bill 442 was signed into law. The legislation, originally proposed by the University System of Maryland, provides flexibility and relief from state ethics law and procurement practices to help facilitate and encourage technology transfer and commercialization activities that are expected to result in a significant economic impact for the institution, USM or the State of Maryland. These activities are referred to in the legislation and the policy as “High Impact Economic Development Activities” (HIEDA).
About Maryland Development Center
The Maryland Development Center is a private company created to commercialize intellectual property developed in Maryland’s rich research enterprises. Since its founding MDC has explored dozens of technologies, created 5 companies, and filed numerous patents. Maryland has the largest research budget in the United States; MDC was created to help realize some of the commercial value of the extraordinary research programs at the State’s great universities and laboratories.