Entrepreneur Briefs

Maryland Governor William Schaefer hopes to encourage more high-tech entrepreneurship in his state with a $15 million seed-capital fund he proposed to his state's General Assembly last month. The plan calls for a pool of money - mostly from public pension funds - that would be invested in venture capital firms; these firms would match the state investment and provide capital for high-tech startups. J. Randall Evans, secretary of the Maryland Department of Economic Development, says there could

The Scientist Staff
Feb 4, 1990

Maryland Governor William Schaefer hopes to encourage more high-tech entrepreneurship in his state with a $15 million seed-capital fund he proposed to his state's General Assembly last month. The plan calls for a pool of money - mostly from public pension funds - that would be invested in venture capital firms; these firms would match the state investment and provide capital for high-tech startups. J. Randall Evans, secretary of the Maryland Department of Economic Development, says there could be many Maryland scientists ready to jump into the marketplace: "We've got an awful lot of smart people doing public-funded basic research here, and now it's time to make it possible to commercialize it." Schaefer's plan encourages the state's counties to invest one half of 1% of their pension funds in the venture pool. Unlikely to participate in the pool, however, is the $8.5 billion State Retirement and Pension Systems Fund. Howard...

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