Unplugged. President.

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Archibald Butler
5 years ago
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1 Maine Development Foundation Unplugged Betsy Biemann President February 5,

2 Maine Technology Institute: Investing in Innovation for a Prosperous Mi Maine Innovation: a new way of doing something that people will pay for and that has value to society Maine Technology Institute invests in existing and start up companies that pioneer Maine s future increases private and public investment in Maine companies and attracts additional investment to the state increases Maine s global economic competitiveness and puts Maine on the map grows Maine s technology clusters so it is easier for our companies to grow helps create and sustain high paying jobs across the state 2

3 MTI Business Innovation Awards help Companies bi bring New Ideas to the Market Seed Grants support early stage R&D Development Awards fund laterstage R&Dleading to commercialization Accelerated Commercialization Funds provide follow on funding to hl help successful awardees bring innovations to market 3

4 Maine Technology Companies Pioneering Maine s Future Ocean Farm Technologies, Searsmont Innovating net pen systems for marine aquaculture Received MTI Seed Grants, Development Award and SBIR assistance From , Ocean Farms Technologies has raised $1 million of private capital and $400,000 in SBIR funding Aquapod systems have been deployed in South Korea and Mexico for offshore cod and shrimp aquaculture Companies using Ocean Farms Technology s net pens represent a new and growing number of firms globally pursuing sustainable open ocean aquaculture 4

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6 Maine Technology Companies Pioneering Maine s Future Ocean Renewable Power Company, Portland and Eastport Developed proprietary turbine that draws electricity from tidal, river and deep water currents. It is the largest tidal device being tested in the US Received dmti Development Award, Accelerated dcommercialization i Award, Maine Technology Asset Fund loans ORPC has doubled its employment in Portland and Eastport to 20 full and part time time employees Working with more than 2 dozen other Maine companies touching 8 counties across the state 6

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8 Maine Technology Companies Pioneering i Maine s Mi Future Tex Tech Industries, Monmouth 100 Year old company which today translates advanced textiles to high value markets: ballistic i protection, fire resistant materials il Received six Seed Grants between 2001 and 2004 for advanced textiles R&D In the last year, the company has won the following for development work in Maine : $4 million in Federal funding for ballistics protection fabric research $1 million Federal contract for work with University of Maine on photovoltaic textiles $130, 000 Small Business Innovation Research grant from the Army for work on ballistic protection material for tents 8

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10 Maine Technology Companies Pioneering i Maine s Mi Future Know Technologies, Camden and Portland Development of anautomated automated network and security monitoring service that provides customers with an immediate customized response to network or website problems Awarded two Seed Grants in Had 3 employees when initially funded. Expanded workforce from in 2009 Received Microsoft s 2009 Networking Infrastructure Partner of the Year 10

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12 Cluster Initiative Program: supporting collaborative, industry driven initiatives that accelerate business growth Skills Entrepreneurship Knowledge Innovation 12

13 Cluster Initiative Program: supporting collaborative, industry driven initiatives that accelerate business growth Technology Clusters: An important driver of Business Growth and Economic Development FY09, MTI approved 11 Awards supporting Maine s high potential technology clusters, totaling nearly $2.5 million and matched by over $4.5 million Awards in FY09 included collaborative projects in the areas of composite materials, ocean and wind energy, aerospace manufacturing, potatoes to plastics, sustainable fisheries, specialty foods and forest resources 13

14 Cluster Initiative Awardees Pioneer Mi Maine s Future Sustainable Bioplastics Cluster Initiative Can Maine manufacture biodegradable plastics from potatoes, potato waste, and other biomass materials? Developing non corn based biopolymer in response to industry needs Collaborative of private industry, including Interface Fabrics, Tom s of Maine, Rynel, University of Maine, Maine Potato Board Received two awards helping the collaborative to research the technology and market opportunities Results include successful demonstration of use of Maine Defender Potato as component in biopolymer 14

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16 Maine Technology Asset Fund: State t Bonds are Bringing Bi i Maine Mi Research to the Market and Leveraging External Financing Federal Dollars Market Equipment Lab Facilities Research 16

17 Maine Technology Asset Fund: Investing in Maine s Mi Future Federal Dollars Inspiring Maine s Next Generation Commercialization and Et Externallyfunded Research New and Increased Markets Research and Industry Jobs Construction and Renovation 17

18 Highlights g of MTAF Progress and Results AEWC at University of Maine, Orono An excellent example of investing State $ and leveraging Federal l$ for R&D in Maine Received d$5 million MTAF Award dfor lb laboratory additions i for nancomposites and large scale pilot manufacturing and testing of advanced composite structures for the energy industry Matched by over $7.7 million Began Cianbro construction of facility Triggered $12.4 million of Federal funds announced in January, awarded significantly because of the initial MTAF award 18

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21 Highlights g of MTAF Progress and Results University of New England, Biddeford and Portland MTAF Round One funding of $4 million, matched by almost $7 million for equipment and research space in UNE s new School of Pharmacy New UNE Pharmacy School opened in fall 2009 with 99 students from Maine, elsewhere in the U.S., Asia and Africa Two new research faculty have joined the school, one bringing $1.75 million in research funding with ihher First two of six technicians have been hired MTAF Round Two funding of $1.53 million, matched by more than $2.2 million for expansion of UNE s Biddeford neuroscience facility $7.5 million application to National Institutes of Health is pending 21

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23 Highlights g of MTAF Progress and Results FHC,Inc., Bowdoin 30 Year old company based in Maine s Midcoast Innovating micro fabrication for further miniaturizing their neurosurgical devices used in leading research institutions and hospitals worldwide Received MTAF Award of just over $400,000, matched by company investments of over $750,000 Has grown its Maine workforce by more than 10% in the last 12 months 23

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25 Highlights g of MTAF Progress and Results Jackson Laboratories, Bar Harbor Received MTAF award of $4.7 million matched by almost $12 million for expansion of the Jackson Laboratory Product Development Pipeline Expanded partnerships with Maine companies including Clear H2O, Maine Manufacturing, Lane Conveyors and Drives and The Baker Co. Broke ground for a new 22,000 square foot facility in August 2009 to be completed in mid 2010 As of October 31, 2009, this MTAF award has helped Create four new research jobs Retain reproductive science and engineering jobs Support 75 jobs among external contractors working on new facility construction Helped create 3 jobs and preserve 4 jobs at collaborating organizations 25

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27 Highlights g of MTAF Progress and Results Bigelow Center for Blue Biotechnology MTAF Round Two funding to position Bigelow to move beyond basic research into tech transfer and commercialization Received MTAFAwardof Award $4.5million, matched 1:1 Application submitted for Federal stimulus funding Building new facilityinin East Boothbay 27

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29 MTI invests in a prosperous future for Maine William Sulinski, mcaddie, Inc Young Technology Entrepreneur Sulinski merged his love of golf, his interest in the Internet and his entrepreneurial drive to create a game improving product that can be accessed from any golfer s web enabled hand held device A graduate of Brewer High School and the University of Maine, now in his mid 20 s, Sulinski has opened his first office in South Portland mcaddie has received two MTI Seed Grants and a Development Award to help the company create and grow its web based applications and bring AccelGolf to the marketplace Sulinski was selected to participate in the prestigious TechStars Entrepreneurship Boot Camp Without the support of MTI, we would not have had the opportunity to launch our products and raise equity investment William Sulinski, mcaddie, Inc. 29

30 MTI invests in a prosperous future for Maine Mi Joan Malcolm Albee Young Technology Entrepreneur Born in Bangor and raised in Gardiner, 25 year old Joan graduated from the University it of Mi Maine with a B.S. BS in Biological i l Engineering i and is currently enrolled in the UMaine Graduate School of Biomedical Studies PhD program in BioMedical Science with a concentration in BioMedical Engineering. A summer internship with Jackson Labs turned into a full time job where Albee is working to discover the genetic basis for preventing, treating and curing human disease. Albee was co principle on an MTI Seed Grant which allowed Jackson Labs to carry out initial research on automating their in vitro fertilization procedure. She has also worked on research funded by anmtaf award. Working on and being awarded these grants was inspiring. It exposed me to countless other dedicated and driving Maine companies that I previously never knew existed. Joan Albee 30

31 MTI Making a Difference Across the State MTI projects closing in 2007 and 2009 yielded $14.27 for every $1 of MTI funds, up from $12 in * Almost 4 out of 5 MTI companies reported stable or growing employment* *As noted in USM s Center for Business and Economic Research Evaluation,

32 Jim Detert, CEO, Rynel Paul Turina, Former President/Founding Partner, Safe Handling Scott Bourget, CFO, Override/IrvingOil Oil David Daigler, CFO, Maine Community College System MTI Board Members Chris Davis, Executive Director, Maine Aquaculture Innovation Center, Pemaquid Oyster Co. Linda Diou, General Manager, Meridian Life Science David Erb, Director of R&D, Tex Tech Industries Steve Hand, President and CTO, Know Technologies Sue Inches, Deputy Director, Maine State Planning Office Tim Nightingale, Sr. Vice President and Sr. Lending Officer, Camden National Bank Cathy Renault, Director, Maine Office of Innovation Steve Smith, General Partner, Masthead Venture Partners Jake Ward, Assistant Vice President of Research Economic Development and Government Relations, University of Maine Peter Triandafillou, Vice President of Wood, Huber Resources Betsy Biemann, President (non voting) 32

33 MTI Staff Betsy Biemann, President Linda Adams, Program Assistant Shane Beckim, Seed Grant Specialist Roger Brooks, Manager, Commercialization Support Programs Jessie Gogan, Development Award Specialist Joe Migliaccio, i Manager, Business Innovation Programs Andrea Phillips, Office Manager Patti Sutter, Program Assistant Open, Manager, Finance and Administration 405 Water Street, Suite 300, Gardiner, ME (207)

2015 ANNUAL REPORT. The Maine Technology Institute

2015 ANNUAL REPORT. The Maine Technology Institute 2015 ANNUAL REPORT The Maine Technology Institute OVERVIEW The Maine Technology Institute (MTI) was established by the Maine Legislature to encourage, promote, stimulate and support research and development