Regulation .06 Investment Criteria.

Whether the market opportunity is appropriate for venture-stage investment;

Whether the applicant, at the time it submits an application to TEDCO, is raising a minimum investment round of $2 million;

Except for life sciences businesses, whether the applicant’s quarterly revenues equal or exceed $250,000;

Whether the investment has the potential to generate returns of two times the amount of TEDCO’s invested capital not more than 8 years from the date of the investment;

Whether the applicant presents a plausible exit strategy for investors;

Whether the applicant can provide access to or information about its partners and customers;

Whether the management team has the skills and ability to effectively secure an institutional venture investment or effectuate a successful exit for investors;

Whether the applicant has the potential to secure institutional venture capital from other investors concurrent with Maryland Venture Fund; and

Except for life science businesses, whether the applicant’s annual growth rate equals or exceeds 20 percent.