Venture Fund Plan Approved

Legislation to fill a state-run venture capital fund with at least $70 million for investments in small, high-tech companies was one of the final bills approved by the Maryland General Assembly last month.

Governor Martin O’Malley said the venture fund plan, his signature economic proposal known as Invest Maryland, “would be a real shot in the arm” for the state’s economy. The bill is a trimmed-down version of what O’Malley first proposed last summer and made his top economic initiative when the legislature convened in January. Invest Maryland is designed to capitalize on the research done at and around the colleges, universities and government facilities in the state. The bill is not without its critics, including Delegate Wendell Beitzel of Garrett County...

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