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405 Water Street, Suite 300 Gardiner, ME 04345 207.582.4790

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Presentation on theme: "405 Water Street, Suite 300 Gardiner, ME 04345 207.582.4790"— Presentation transcript:

1 405 Water Street, Suite 300 Gardiner, ME 04345 207.582.4790

2 Investing in Innovation for a Prosperous Maine The Maine Technology Institute (MTI) is an industry-led NON-PROFIT corporation that offers EARLY-STAGE CAPITAL and commercialization assistance in the form of COMPETITIVE GRANTS, loans and equity investment for the RESEARCH, DEVELOPMENT and application of TECHNOLOGIES that create NEW PRODUCTS, processes and services, generating HIGH-QUALITY JOBS across Maine.

3 MTI works with entrepreneurs, innovators, established businesses and institutions conducting research and development (R&D) to help them FUND and GROW their BIG IDEAS, CONNECT to resources across the state and create RESULTS for Maine. Our programs help innovators accelerate progress to the market, leverage additional private and public investment, and ultimately, expand their economic impact in Maine.

4 From FY99-FY09, MTI has FUNDED 1,295 technology PROJECTS in Maine, a financial commitment of $106 million that has LEVERAGED over $173 MILLION in additional FUNDING for a total of $279 million. From FY99-FY09, MTI has FUNDED 1,295 technology PROJECTS in Maine, a financial commitment of $106 million that has LEVERAGED over $173 MILLION in additional FUNDING for a total of $279 million. Statewide Funding For every $1 OF MTI FUNDS an additional $14 IN NON-MTI FUNDING is leveraged. FUNDS have been AWARDED to companies and organizations in all 16 COUNTIES in Maine. The LARGEST NUMBER of awards have been to recipients in CUMBERLAND COUNTY but the largest distributions of MTI funds on a PER CAPITA basis have been in LINCOLN and WASHINGTON COUNTIES. MTI funded companies say that MTI FUNDING has been CRITICAL to their commercial success.

5 MTI continues to INVEST in the state’s targeted SECTORS with a FOCUS on GROWING and STRENGTHENING CLUSTERS of activity that include supporting expansion of research and development; expanding the workforce, particularly those with graduate training within each sector; supporting creation of new firms; and linking to networks and alliances for financing and product development. Advanced Technologies for Forestry & Agriculture Aquaculture and Marine Technology Biotechnology Composite Materials Technology Environmental Technology Information Technology Precision Manufacturing Technology Technology Sectors

6 BOARD OF DIRECTORS Governor-appointed, private, industry-led board of directors. Works with VOLUNTARY BOARDS of experts from each technology sector to EVALUATE MTI proposals & applications, make funding recommendations, and CONTRIBUTE their in-depth knowledge of their industries' technologies and needs in Maine. TECHNOLOGY BOARDS Nearly 100 experienced business and technology experts volunteer their time to serve on MTI's seven technology boards. Service on the MTI Technology Boards is purely voluntary, and is "open to private sector representatives, scientists and others determined appropriately representatives of the targeted technology sectors" (Sec. AAA-3. 5MRSA c.407). MTI TEAM Anyone interested in serving on a Technology Board is encouraged to contact the Chair of the Technology Board, or the president of MTI Betsy Biemann, bbiemann@mainetechnology. org, and their interest will be given due consideration by the Technology Board, and the MTI Board of Directors. bbiemann@mainetechnology. org

7 Partnerships MTI works with partners across the state invested in seeing Maine’s entrepreneurial economy grow. Technology Incubators

8 increases Maine’s GLOBAL economic competitiveness Evaluation of Maine Technology Institute Programs Conducted by Dr. Charles S. Colgan and Dr. Bruce Andrews Center for Business and Economic Research University of Southern Maine. Available at: ATTRACTS additional INVESTMENT to the state From FY99 –FY09, 1,295 projects were funded in over 600 businesses across all seven technology sectors. Over $106 million has been awarded, leveraging co-investment of nearly $173 million. Annual report provided to the Legislature each year. invests in COMPANIES that PIONEER Maine’s FUTURE helps to CREATE and sustain high-paying JOBS in existing and new companies increases private and public investment in Maine companies GROWS Maine’s TECHNOLOGY CLUSTERS so it is easier for our companies to grow

9 At Tex Tech, there is NO SHORTAGE OF IDEAS. Big ones. Good ones. Over the past five years, MTI FUNDING HAS HELPED TEX TECH accelerate their product development and translate their advanced textiles to high value markets: BALLISTIC PROTECTION, fire resistant materials. For example, one of the $10,000 MTI AWARDS Tex Tech received LED TO $750,000 in Small Business and Innovation Research funding from the Department of Defense for ballistics research. INNOVATION: a new way of doing something that people will pay for and that has value to society INNOVATION: a new way of doing something that people will pay for and that has value to society Tex Tech Industries, Inc. Corporate Headquarters One City Center, 11th Floor Portland, ME 04101 207-756-8606 Tex Tech Industries, Inc. P.O. Box 8, Main Street North Monmouth, ME 04265 207-933-4404

10 Bigelow Laboratory for Ocean Sciences 180 McKown Point P.O. Box 475 West Boothbay Harbor, Maine 04575 Phone: (207) 633-9600 Fax: (207) 633-9641 BIGELOW is a NONPROFIT INSTITUTE whose scientists are WHOLLY FINANCED BY GRANT FUNDING. Access to an on-site SEM (funded by MTI) has enabled BIGELOW TO RECRUIT AND RETAIN SEVERAL RESEARCHERS from other institutions and, in a COMPETITIVE FUNDING ENVIRONMENT, scientists who have these tools in their home laboratories have a LEG UP on those that don’t. Bigelow has recently EXPANDED their research CAPABILITIES with a Liquid Chromatography Mass Spectrometer (LC-MS). Additional MTI AWARDS were MATCHED with $350,650 in other funds to purchase the device which can help determine the molecular makeup of a particular substance. This instrument has already been CRUCIAL in ATTRACTING over $438,000 in FUNDING from NSF to examine algal blooms and climate change.

11 Tools for savvy golfers. Improve your game with personalized statistics, easy to use tools, and the best golf community in the world. McCaddie William Sulinski P.O. Box 3514 Portland, Maine 04104- 351 AccelGolf is featured in iTunes! Ranked #1 Sports app! The mobile and Web applications have a database of more than 22,000 courses in 60 countries, allowing golfers to keep a digital scorecard of their round, calculate the distance of shots, and store information about every shot to help lower a score the next time out. mCaddie has received two Seed Grants and a Development Award from the Maine Technology Institute. The funding has helped the company create and grow its Web-based applications and bring AccelGolf to the marketplace.

12 Bioplastics Cluster Looks to Maine Potatoes In 2008, the MTI board of directors approved a Cluster Enhancement Award of $200,000, matched by $459,000, to support a SUSTAINABLE BIOPLASTICS CLUSTER project to make PLA, a biodegradable plastic from MAINE POTATOES. The MTI Cluster Enhancement Award IS HELPING MEMBERS of the sustainable bioplastics cluster WORK TOGETHER to develop and SHARE KNOWLEDGE AND INNOVATION, as well as overcome barriers quickly, through COLLABORATION on standards, methods and applications that collectively could lead to new and improved Maine products. By working together, they aim to demonstrate the feasibility of potato or wood PLA TECHNOLOGY, lead the industry, grow businesses and CREATE JOBS, while having a positive effect on the environment—not just in Maine, but across the country. Maine Initiatives, Inc. P.O. Box 2248 Augusta, ME 04338 info@maineiniti 207-622-6294 Fax: 622-6295



15 $1,000 to $12,500 each Awarded 6 times per year Early-stage R&D projects leading to commercializa tion Activities include market research, patent filing, & prototype development SEED GRANTS Alba-Technic LLC, Arundel - Developing an innovative neuro-protective device made from advanced materials Grain Surfboards, York - Innovative surfboard kits have caught the new wave of interest in natural surfboards Flagsuit LLC, Southwest Harbor - Has invented a new design and method for fabricating astronaut space suit gloves that are more flexible and less fatiguing than current gloves REQUIRE AT LEAST A 1:1 MATCH FROM THE APPLICANT

16 DEVELOPMENT AWARDS Corporate R&D: $50,000 to $500,000 per application Tech Transfer R&D: $30,000 to $100,000 per application Awarded 3 times per year Later-stage R&D projects leading to commercialization Clynk, Portland - Developed a faster, cleaner, and more convenient service to recycle bottles and cans Hydro International, Portland - Developed new storm water system, exporting to New Zealand and elsewhere. Kenway Corporation, Augusta - Diversifying into marine markets, including U.S. military projects. Repayment triggered by successful commercialization. REQUIRE AT LEAST A 1:1 MATCH FROM THE APPLICANT

17 PHASE 0 PROGRAM PRE- PHASE II PROGRAM $10,000 award; Business Development/Commercialization activities (to support a Phase II proposal) SBIR/STTR TECH ASSISTANCE Agency specific and proposal writing workshops routinely offered. Receive no-cost proposal SBIR/STTR Phase I & II Proposal Development Assistance Grants up to $5,000 per proposal; accepted on a rolling basis Requires a 1:1 match Supports SBIR/STTR proposal development Covers direct costs associated with prep of an SBIR/STTR proposal; market research & consultant services REQUIRE AT LEAST A 1:1 MATCH FROM THE APPLICANT

18 Companies previously awarded an MTI Development Award are eligible Fund reserved for follow-on equity and near equity investment Helps fill the gap between R&D and sales to allow companies to achieve significant growth and bring new products to market Uses of Funding: Commercial advancement of the technology, development, marketing, operations, or working capital ACCELERATED COMMERCIALIZATION FUND

19 CLUSTER AWARD Up to $50,000 each for planning and feasibility. Awarded on a rolling basis. Up to $500,000 each; awarded twice a year. REQUIRE AT LEAST A 1:1 MATCH FROM THE APPLICANT Maine Food Producers Alliance

20 MAINE TECHNOLOGY ASSET FUND Funded by a $50 million bond approved by Maine voters in November 2007. In 2008 and 2009, the MTI Board awarded approximately $46 million to fund 26 projects. This third round will award the remaining approx. $7 million in funds. Investments made in equipment and facilities supporting research, development, and commercializa- tion projects. Final round in progress. Applicants notified of results the week of October 12, 2010.

21 405 Water Street, Suite 300 Gardiner, ME 04345 207.582.4790

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