(a)    Within the CENTR Maryland Program, subject to available funding, the Corporation shall award capital and operating grants from the Fund to private sector entities and institutions of higher education in the State to:

(1)    leverage federal funding for the establishment or construction of research centers in the State;

(2)    provide pilot funding for faculty at institutions of higher education in the State to develop initial research data for the development of larger grant funding proposals;

(3)    foster public–private partnerships between private industry and institutions of higher education in the State; and

(4)    assist with the transfer of nanobiotechnology research into commercial applications.

(b)    Within the CENTR Maryland Program, the Corporation may award operating grants from the Fund to institutions of higher education that shall include:

(1)    discovery educational grants to support postdoctorate or graduate–level collaboration with private sector entities on nanobiotechnology projects that:

(i)    shall be subject to supervision by faculty members; and

(ii)    require a matching sum, either direct or in–kind, from a private sector entity equivalent to the grant amount;

(2)    collaborative grants to support research teams from institutions of higher education working with private sector entities on collaborative research projects that:

(i)    focus on specific application development; and

(ii)    require a matching sum from the private sector entity equivalent to the grant amount; and

(3)    prototype grants to enable institutions of higher education and private sector entities to engage in projects that:

(i)    demonstrate whether a prototype is functional and manufacturable;

(ii)    demonstrate the cost effectiveness of nanotechnology–related applications; and

(iii)    shall be matched with an industry grant in an amount of at least $2 for every $1 of the prototype grant.