TEDCO defends stem cell and innovation investments as fiscal 2026 allowance drops by $5 million

Troy L. Stovall, chief executive officer of the Maryland Technology Development Corporation (TEDCO), told the Education and Economic Development Subcommittee that TEDCO’s fiscal 2026 allowance decreases about $5,000,000 to an estimated $53,000,000 and that much of the change reflects lower proposed funding for the Maryland Stem Cell Research Fund.

Elizabeth Bridal (Office of Legislative Services) briefed the subcommittee on TEDCO’s budget breakdown, saying roughly 29% of TEDCO’s proposed fiscal 2026 allowance (about $15,500,000) is slated for the Stem Cell Research Fund, roughly 25% (about $13,000,000) for social impact investment funds, and about 14% (approximately $7,000,000) for university research and commercialization programs including the Maryland Innovation Initiative (MII). The analysis noted a $5,000,000 decrease in stem cell funding from the prior year and that Cyber Maryland funding falls to a legislatively mandated minimum of $99,000;…