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W W W. M A I N E B I Z . B I Z 37 S E P T E M B E R 7 , 2 0 1 5 Orono! A smart idea. The Orono Economic Development Corp. can help www.oronoedc.org Learn more: www.townoforono.com Join entrepreneurs at Target Technology Center Find space at Maine Tech Park and Downtown Pitch at Big Gig Learn about Ultra High Speed Fiber SeaChange Group LLC Brunswick 10 Maine Ocean and Wind Industry Initiative Portland 11 Joseph Associates Inc. Farmingdale 12 Maine Textiles International LLC Biddeford 13 RockStep Solutions Inc. Bar Harbor 14 University of Maine Orono 15 Double Blue Sports Analytics,Inc. Orono 16 DAVO Technologies LLC Portland 17 Cerahelix Inc. Orono 18 Niche Diagnostics LLC Gorham 19 Northern Tack LLC Alexander 20 Globeco Maine LLC Scarborough $250,000 $246,000 $231,295 $220,000 $201,390 $179,000 $175,000 $156,165 $150,000 $149,900 $141,878 $107,600 EHF (Eco-Hybrid Fuel)Renement & Early Adopter Testing North Atlantic Ocean Energy and Resource Extraction Product Development for ECOS Software New Technology for Dyeing High Tenacity Yarn Novel Cloud Information Management Bundle Saving the Old Town Pilot Plant to Help the Sustainable Forests and Forest-Based Economy Cluster Team Review System Development Integrated Sales Tax Solution Pilot Production and Trials Niche Clinical Laboratory and Reagent Development Northern Tack LLC eFit System Shaping Maine's Forest products Path to Global Supply Development Loan Cluster Initiative Program Development Loan Development Loan Development Loan Cluster Initiative Program Development Loan Development Loan Development Loan Development Loan Development Loan Development Loan agriculture Environmental technology Advanced technologies for forestry and agriculture; aquaculture and marine technology; composite materials Environmental technology Precision manufacturing technology Information technology Advanced technologies for forestry and agriculture Information technology Information technology Environmental technology Biotechnology Information technology Advanced technologies for forestry and agriculture 1 MTI awards are disbursed in tranches based upon certain project milestones being achieved. The award amounts may not reect actual disbursements. 2 The Maine Technology Institute invests public funds in Maine entrepreneurs and companies who engage technology to develop innovative products and services within the state's seven targeted technology sectors. Grants, loans and equity investments are issued on a competitive basis and require a minimum of one-to-one private sector match. The goals are high-paying jobs, development of intellectual property and business growth, which in turn provide tax revenue for the state. MTI's Equity Capital program supports its grant and loan recipients as they advance their company to full commercialization and complements meaningful outside investment needed to carry the company to its next stage. The Development Award Program offers loans of up to $500,000 to support research and development of new products, processes or services leading to commercialization. MTI's Cluster Initiative Program (CIP) supports collaborative efforts in Maine's high-potential technology clusters that help spread knowledge and skills, build connections among businesses, connect businesses to research and service partners, and address common opportunities and challenges, leading to more vibrant economic growth and innovation S O U R C E : Maine Technology Institute Largest Maine Technology Institute investments Ranked by amount received per award, Fiscal Year 2015 1 Elmet Technologies LLC Lewiston 2 Rethink Packaging Auburn 3 Physical Apps LLC Hollis 4 University of Southern Maine Portland 5 Maine Composites Alliance Portland 6 Mingle Analytics LLC South Paris 7 Midcoast Regional Redevelopment Authority Brunswick 8 Blue Ox Malt House Lisbon Falls SeaChange Group LLC Brunswick 10 Maine Ocean and Wind Industry Initiative Portland 11 Joseph Associates Inc. Farmingdale 12 Maine Textiles International LLC Biddeford 13 RockStep Solutions Inc. Bar Harbor 14 University of Maine Orono 15 Double Blue Sports Analytics,Inc. Orono 16 DAVO Technologies LLC Portland 17 Cerahelix Inc. Orono 18 Niche Diagnostics LLC Gorham 19 Northern Tack LLC Alexander Amount received 1 $1,000,000 $520,000 $499,200 $496,174 $496,056 $343,299 $299,040 $250,000 $250,000 $246,000 $231,295 $220,000 $201,390 $179,000 $175,000 $156,165 $150,000 $149,900 $141,878 Project title Elmet Equity Investment Scale-up of Manufacturing with Limited Production Physical Activity with Smart Devices Critical Infrastructure Protection Research and Operations Composites Engineering Research Lab 2 PQRS Data Import and Analysis Automation TechPlace - Shared Bio Lab and Tech Shop Space Blue Ox Malthouse Pilot Plant EHF (Eco-Hybrid Fuel)Renement & Early Adopter Testing North Atlantic Ocean Energy and Resource Extraction Product Development for ECOS Software New Technology for Dyeing High Tenacity Yarn Novel Cloud Information Management Bundle Saving the Old Town Pilot Plant to Help the Sustainable Forests and Forest-Based Economy Cluster Team Review System Development Integrated Sales Tax Solution Pilot Production and Trials Niche Clinical Laboratory and Reagent Development Northern Tack LLC eFit System Type of award 2 Equity Capital Program Development Loan Development Loan Cluster Initiative Program Cluster Initiative Program Development Loan Cluster Initiative Program Development Loan Development Loan Cluster Initiative Program Development Loan Development Loan Development Loan Cluster Initiative Program Development Loan Development Loan Development Loan Development Loan Development Loan Sector Precision manufacturing technology Precision manufacturing technology Composite materials technology Information technology Composite materials technology Information technology Biotechnology; composite materials technology; environmental technology; precision manufacturing Advanced technologies for forestry and agriculture Environmental technology Advanced technologies for forestry and agriculture; aquaculture and marine technology; composite materials Environmental technology Precision manufacturing technology Information technology Advanced technologies for forestry and agriculture Information technology Information technology Environmental technology Biotechnology Information technology Largest Maine Technology Institute investments Ranked by amount received per award, Fiscal Year 2015 1 Elmet Technologies LLC Lewiston 2 Rethink Packaging Auburn 3 Physical Apps LLC Hollis 4 University of Southern Maine Portland 5 Maine Composites Alliance Portland 6 Mingle Analytics LLC South Paris 7 Midcoast Regional Redevelopment Authority Brunswick 8 Blue Ox Malt House Lisbon Falls SeaChange Group LLC Brunswick 10 Maine Ocean and Wind Industry Initiative Portland 11 Joseph Associates Inc. Farmingdale 12 Maine Textiles International LLC Biddeford 13 RockStep Solutions Inc. Bar Harbor 14 University of Maine Orono 15 Double Blue Sports Analytics,Inc. Orono 16 DAVO Technologies LLC Portland 17 Cerahelix Inc. Orono 18 Niche Diagnostics LLC Gorham 19 Northern Tack LLC Alexander Amount received 1 $1,000,000 $520,000 $499,200 $496,174 $496,056 $343,299 $299,040 $250,000 $250,000 $246,000 $231,295 $220,000 $201,390 $179,000 $175,000 $156,165 $150,000 $149,900 $141,878 Project title Elmet Equity Investment Scale-up of Manufacturing with Limited Production Physical Activity with Smart Devices Critical Infrastructure Protection Research and Operations Composites Engineering Research Lab 2 PQRS Data Import and Analysis Automation TechPlace - Shared Bio Lab and Tech Shop Space Blue Ox Malthouse Pilot Plant EHF (Eco-Hybrid Fuel)Renement & Early Adopter Testing North Atlantic Ocean Energy and Resource Extraction Product Development for ECOS Software New Technology for Dyeing High Tenacity Yarn Novel Cloud Information Management Bundle Saving the Old Town Pilot Plant to Help the Sustainable Forests and Forest-Based Economy Cluster Team Review System Development Integrated Sales Tax Solution Pilot Production and Trials Niche Clinical Laboratory and Reagent Development Northern Tack LLC eFit System Type of award 2 Equity Capital Program Development Loan Development Loan Cluster Initiative Program Cluster Initiative Program Development Loan Cluster Initiative Program Development Loan Development Loan Cluster Initiative Program Development Loan Development Loan Development Loan Cluster Initiative Program Development Loan Development Loan Development Loan Development Loan Development Loan Sector Precision manufacturing technology Precision manufacturing technology Composite materials technology Information technology Composite materials technology Information technology Biotechnology; composite materials technology; environmental technology; precision manufacturing Advanced technologies for forestry and agriculture Environmental technology Advanced technologies for forestry and agriculture; aquaculture and marine technology; composite materials Environmental technology Precision manufacturing technology Information technology Advanced technologies for forestry and agriculture Information technology Information technology Environmental technology Biotechnology Information technology