There is a Maryland Innovation Initiative. The Initiative consists of the following participating members: one official of State government not affiliated with Maryland higher education, or the official’s designee, appointed by the Governor; two individuals from the private sector not affiliated with Maryland higher education with experience in commercializing technology in the State, one appointed by the President of the Senate, and one appointed by the Speaker of the House of Delegates; and subject to subsection (c) of this section, the following members appointed by the respective universities: one representative of the Johns Hopkins University; one representative of Morgan State University; one representative of University of Maryland Baltimore County; and two representatives of the University of Maryland, one from the College Park Campus and one from the Baltimore Campus. Subject to paragraph (2) of this subsection, only the universities listed under subsection (b)(3) of this section may qualify for participation in the Initiative. To qualify for participation in the Initiative, a university shall provide, as specified in paragraph (3) of this subsection, a contribution annually to the Initiative to carry out the purposes set forth under this part. To qualify for participation in the Initiative, the following universities shall pay an annual contribution of at least $200,000: Johns Hopkins University; University of Maryland, Baltimore Campus; and University of Maryland, College Park Campus. To qualify for participation in the Initiative, the following universities shall pay an annual contribution of at least $100,000: Morgan State University; and University of Maryland Baltimore County. A university listed under subsection (b)(3) of this section may elect to withdraw as a participating member for future years on providing 60 days’ written notice to the Chair or Executive Director of the Initiative. The participating members of the Initiative shall select a chair from among their members. A participating member of the Initiative: may not receive compensation as a member of the Initiative; but is entitled to reimbursement for expenses under the Standard State Travel Regulations, as provided in the State budget or under the applicable travel regulations of a university if the university reimburses the participating member. The Initiative may employ staff, including an Executive Director.