The University System of Maryland this week approved a new pilot program to fund early-stage startups.
The measure, which was approved by the USM Board of Regents on Friday, will allocate $200,000 per year to the Early Capital Pilot fund over three years.
The program will be funded with money currently allocated for the Maryland Momentum Fund, a USM-run venture capital fund that began with $25 million in 2016. The Board of Regents recently authorized an additional $6 million over three years for the program.
Image: The University System of Maryland (USM) approved a new pilot program investing $200,000 a year in early stage startups.
Jessica Iannetta/BBJ
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