My 3-steps to achieve innovation hotbed nirvana for our region:
1) Properly incentivize the Universities and Government Labs to open the floodgates and license out patents covering the innovations necessary to companies.
2) Put an SBIR matching fund in place to complement federal investment at the MD state level. There 14 states that have implemented such a program to great success of their start-up eco-systems.
3) MD has the biotechnology investment incentive tax-credit at 50% of the investment. This has been fabulous for both angel inventors and our start-ups. We need a similar program to entice more VC level investing in our more advanced small cos.