Eligibility Criteria. TEDCO may make an award to an applicant, if TEDCO determines the applicant meets all of the following criteria: The applicant is a technology-based start-up company; The founder of the applicant are students of a postsecondary institution located in the Baltimore-Columbia-Towson MSA; The applicant has its principal place of business located in the Baltimore-Columbia-Towson MSA; and The applicant agrees to use at least 20 percent of the award to hire third-party consultants for planning, development, regulatory compliance, or other technical assistance related to establishing a start-up company unless upon applicant’s request, TEDCO provides a waiver thereto. Verification of Information Submitted to TEDCO. An applicant shall verify, in a form approved by the Office of the Attorney General, the information the applicant submits to TEDCO in an application for an award.