O’Malley seeks $100 million for biotech startups

Gov. Martin O’Malley wants to multiply Maryland’s investment in biotech and life sciences startups with $100 million he expects to pool from insurance companies in return for tax breaks.

“One of the many effects of the national recession is the drying up of venture capital,” O’Malley told a group of business leaders at the 2010 State of Tech in the I-270 Corridor conference. “We cannot become a venture capital bank, but we can… push back.”