Today, Maine Technology Institute (MTI) was one of four national recipients of the Excellence in Technology-Based Economic Development Award from the State Science and Technology Institute (SSTI), a national nonprofit organization based in Ohio that leads efforts to improve state and regional economies through science, technology and innovation. MTI received the award for its Maine Technology Asset Fund (MTAF), a voter-approved $50 million bond funded program that supports research, development and commercialization of technologies that boost Maine’s economy and create high-paying jobs. The award judges were a national panel of distinguished former and current technology-based economic development practitioners.
In presenting the award, SSTI’s President and CEO, Dan Berglund said “The Maine Technology Asset Fund stands out for its ability to build R&D collaborations between universities, companies and nonprofit research institutions. Our awards committee was highly impressed by the impact the program is having in just three years of existence.”
“This award really acknowledges the people of Maine, the Baldacci administration, the Legislature and Maine’s innovation community.” said Betsy Biemann, President of the Maine Technology Institute as she received the award. “Maine committed to make a bold investment in our entrepreneurs, researchers and in the talents and ingenuity of our workforce. This award recognizes the work of the innovative businesses and research organizations that have applied for these highly competitive funds, leveraged their awards with private investment and Federal grants, and collaborated, often across sectors, to develop new technologies and economic activity across our state.”
Biemann continued by noting recent achievements of MTAF award recipients that are creating jobs and pioneering a better future across Maine. Bigelow Laboratory for Ocean Sciences broke ground on September 6 for its new Center for Blue Biotechnology, a world-class marine science facility transferring Bigelow’s discoveries into commercial products and industry partnerships. In late August, Ocean Renewable Power Co. celebrated a successful testing of their tidal turbine generating grid-compatible power from tidal currents at its Cobscook Bay site in Eastport, Maine and just last week, received a $10 million Department of Energy grant. Also in August, Jackson Laboratories in Bar Harbor opened a new research facility funded in part by MTAF funding.
MTI has awarded $45.6 million of MTAF funding to 25 projects currently under way with an additional $7.4 million to be awarded in October 2010. MTAF awards under contract have already leveraged more than $69 million in matching funds with increasing investments flowing as the projects advance. A complete list of MTAF funded projects in Maine can be found at www.mainetechnology.org/fund/maine-technology-asset-fund.
MTI is a publicly financed, private nonprofit organization created by the Legislature in 1999 to stimulate research and development activity leading to the commercialization of new products,processes and services in the state’s seven technology-intensive sectors. Programs are designed to enhance the competitive position of those sectors and increase the likelihood that one or more of the sectors will support clusters of industrial activity and create quality jobs across Maine. More about MTI at: www.mainetechnology.org.
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