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<section article="gec" article_name="Economic Development" number="10-702" title_number="10" title_name="Statewide Development Resources and Revenue Authorities" subtitle_number="7" subtitle_name="Maryland Venture Capital Trust">
  <level label="a">
    <text>The General Assembly finds that:</text>
    <level label="1">
      <text>small businesses are a major source of new jobs and innovations in the State;</text>
    </level>
    <level label="2">
      <text>the State’s research capacity could spur innovation in new and existing businesses to create and maintain jobs in the State; and</text>
    </level>
    <level label="3">
      <text>an inadequate supply of seed capital financing and venture capital funds has limited the commercialization of research and development in the State.</text>
    </level>
  </level>
  <level label="b">
    <text>The General Assembly intends for the Trust to:</text>
    <level label="1">
      <text>help fill the gap in the State’s economy caused by the inadequate supply of seed capital financing and venture capital funds; and</text>
    </level>
    <level label="2">
      <text>stimulate the commercialization of research and development to create and sustain businesses throughout the State.</text>
    </level>
  </level>
</section>
