Md. panel urges IT investment

Maryland's technology business base would be enhanced by greater investment of state pension dollars in private equity and venture-capital funds, according to the Commission on Development of Advanced Technology Business, appointed more than a year ago by Gov. Robert Ehrlich Jr. The commission also recommended that Maryland hire its first chief technology officer.

In a new report, the 21-member commission recommended strengthening partnerships between the private sector and the state's universities and laboratories, and shoring up financing programs for small businesses.

Maryland has 0.3 percent of its investment in private equity, below the 4.7 percent national average, and near the bottom of the list of states that track such investments, the report said.

Investment in venture capital funds, often the only source of cash for startup technology companies, has been politically ticklish in Maryland, and observers said chances are slim that lawmakers will move on that recommendation this year.