MD HB1596

Establishes the Maryland Growth Initiative within the Maryland Technology Development Corporation to support start-up companies transitioning from early development to scaling phase

Creates the Maryland Growth Initiative Fund as a special, nonlapsing fund to provide post-seed and Series A funding to qualified Maryland businesses, allowing them to scale without relocating out of state

Requires the Governor to include $5,000,000 annually in the budget for the Initiative, with funding designated to supplement rather than supplant existing resources

Provides access to experts in regulatory processes, manufacturing, clinical trials, and market launches, as well as assistance acquiring office space, equipment, and product development support

Prioritizes companies that have received funding from the Maryland Innovation Initiative, other TEDCO programs, or are minority business enterprises (at least 50-51% minority-owned)