Section 10-458 - Functions(a) The Initiative may: (1) provide grant funding or equity investment financing to a qualifying university, qualifying university-based entrepreneur, or other start-up entity, to promote the commercialization of technology developed in whole or in part by a qualifying university;(2) pursue grants, other funds, and in-kind contributions for the Initiative or its qualifying universities;(3) develop and implement guidelines for technology transfer; and(4) identify projects at qualifying universities that may be viable for commercialization.(b) The grant funding or equity investment financing in subsection (a) of this section shall be awarded: (1) to support pre-commercial research on intellectual property to increase the likelihood of commercializing the intellectual property;(2) to defray costs of evaluating the feasibility of a technology becoming commercialized through a start-up company;(3) to defray the direct costs of developing early stage technology through a start-up entity;(4) to assess intellectual property issues, including licensing and patents; or(5) for any other costs that the Initiative's participating members determine are appropriate to promote technology transfer and commercialization in the State.Amended by 2020 Md. Laws, Ch. 580,Sec. 1, eff. 10/1/2020.Amended by 2016 Md. Laws, Ch. 462,Sec. 1, eff. 7/1/2016.Amended by 2016 Md. Laws, Ch. 8,Sec. 1, eff. 3/14/2016.Amended by 2016 Md. Laws, Ch. 8,Sec. 1, eff. 3/14/2016.