Cybersecurity Investment Fund Bill Approved

The General Assembly passed legislation to create a new Cybersecurity Investment Fund to provide early stage seed funding for emerging Maryland companies focused on cybersecurity. (Senate Vote | House Vote)

The fund would be administered by the Maryland Technology Development Corporation (TEDCO) and modeled after TEDCO’s successful Technology Commercialization Fund (TCF), which has made more than 224 seed investments.

The Maryland Chamber supports the legislation. For a modest annual investment of $2 million, Maryland can bolster its reputation as a cybersecurity leader. Supporting Maryland’s cybersecurity industry at all levels has great potential for creating and retaining high paying jobs in Maryland. The Maryland Competitiveness Coalition has identified rapid expansion of the cybersecurity industry and the growth of the commercial cybersecurity marketplace among its objectives.

For more information, contact Mathew Palmer at mpalmer@mdchamber.org.

Legislative Issues Tag: CompetitivenessTaxes

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