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 MIPS received a national Excellence in Technology-Based Economic Development Award in the Improving Competitiveness of Existing Industry category from the State Science and Technology Institute. The award recognizes initiatives expanding the innovation capacity of existing companies or industries to develop new leading edge products or services or significantly enhance the competitiveness of their existing operations.
 More than 600 persons from 25 colleges in the region and nationally registered for the University of Maryland Technology Start-Up Boot Camp, hosted by the Maryland Technology Enterprise Institute (MTECH). The Boot Camp has grown from 100 University of Maryland attendees in 2001. The program is an intensive, one-day workshop and networking event focused on launching new ventures.
 Jim Chung joined MTECH as the new director of the VentureAccelerator Program, MTECH’s initiative for helping faculty and students launch successful technology-based ventures. Chung previously held the role of director of new business development for the Corporate Executive Board, where he helped build the company's mergers and acquisitions capabilities and contributed to the recent $59 million acquisition of ITtoolbox.
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The Maryland Technology Extension Service, which strengthens the competitiveness of Maryland manufacturers by providing knowledge, decision support and implementation assistance, announced it had a $103 million impact on Maryland manufacturing companies from the third quarter of 2006 to the second quarter of 2007. The data, based upon surveys by the National Institute of Standards and Technology's Maryland Extension Partnership, showed MTES assisted Maryland manufacturers in: increasing sales by $35.9 million, retaining sales of $55.4 million, saving $5.7 million in costs; saving $147,000 in investments; avoiding $613,000 in unnecessary investments; increasing plant or equipment investment by $3.9 million. Companies also created or retained 313 jobs owing to MTES' assistance. 
The Maryland Industrial Partnerships Program (MIPS) announced the approval of 23 new research projects partnering Maryland companies with university researchers to develop high-tech commercial products. Worth $3.6 million, the projects combine $2.1 million from participating companies and $1.5 million from the MIPS. Funding supports work in the laboratories of participating university system faculty, who work closely with partner companies to advance their product development. Projects included work in digital forensics, the structural monitoring of bridges, wireless sensor networks and inexpensive methods for producing ethanol from plant sources.