MD SB763

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

Creates the Maryland Growth Initiative Fund as a special, nonlapsing fund to provide postseed and Series A funding to qualified businesses so they can scale without relocating out of state

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

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)

Provides supported companies with access to experts in regulatory processes, manufacturing, clinical trials, market launches, and assistance acquiring infrastructure including office space and equipment