Maryland Statutes
Subtitle 3 - University of Maryland
Section 12-306 - University of Maryland Center for Economic and Entrepreneurship Development (Umceed)

(a)    (1)    There is a University of Maryland Center for Economic and Entrepreneurship Development (UMCEED).
        (2)    UMCEED shall be located on the College Park Campus.
    (b)    Following all State law, regulations, and processes for program review and approval, UMCEED shall advance the education of students by developing degree and credential programs in the following fields of study:
        (1)    Virtual and augmented reality;
        (2)    Neurosciences;
        (3)    Biomedical devices;
        (4)    Data analytics;
        (5)    Cybersecurity; and
        (6)    Quantum technologies, advanced data computing, and information technologies.
    (c)    (1)    The presidents shall appoint an Executive Director of UMCEED.
        (2)    The Executive Director shall:
            (i)    Ensure that the provisions of this section are carried out;
            (ii)    Develop a plan to appropriately staff UMCEED in order to effectively carry out the duties of UMCEED; and
            (iii)    Annually report to the presidents and to the General Assembly, in accordance with § 2–1257 of the State Government Article, the number of:
                1.    New certificate and degree programs created;
                2.    University of Maryland graduates who are employed in Maryland–based businesses;
                3.    Patents or other intellectual property created within the new certificate or degree programs;
                4.    New companies that are developed from the new certificate or degree programs; and
                5.    New grant or contract funding that is awarded to faculty of the new certificate or degree programs.
    (d)    (1)    The Governor shall include in the annual budget bill an appropriation of at least the following amounts to UMCEED for the following fiscal years:
            (i)    $2,000,000 for fiscal year 2018;
            (ii)    $4,000,000 for fiscal year 2019; and
    
            (iii)    $6,000,000 for fiscal year 2020 and each fiscal year thereafter.
        (2)    In addition to the appropriation required under paragraph (1) of this subsection, for fiscal year 2023 and each fiscal year thereafter, the Governor shall include in the annual budget bill an appropriation of at least $2,500,000 to UMCEED to be used to encourage the development and location of University created or sponsored technology companies in Prince George’s County.

Structure Maryland Statutes