Mainebiz

V O L . X X I N O. X X V T oward the end of his time at IDEXX Laboratories Inc. (NASDAQ: IDXX), the Westbrook-based animal health diagnostics and IT solutions company, founder David Shaw set up Black Point Group LLC in Portland as a vehicle to invest in other companies. at was in 2000. Now, the investment firm has a portfolio with some 20 companies throughout the United States. e hand- ful of people working there include son Benjamin Shaw, who also is cofounder and CEO of Vets First Choice, in which Black Point was a lead investor. David Shaw also serves as treasurer of the American Association for the Advancement of Science. He has chaired many organizations, including e Jackson Laboratory and Sargasso Sea Alliance, and is a director of the National Parks Foundation, where he is helping lead the strategy for the parks' centennial celebration next year. e Shaws recently talked to Mainebiz about Black Point's investment strategy. David, who is managing partner of Black Point, also reminisced about the early days of entrepreneurship at IDEXX. An edited transcript follows. The growth of an entrepreneur Mainebiz: Did you always know you'd become an entrepreneur? David Shaw: I didn't think anyone would ever offer me a job, so I had to create my own. However, my first meaningful job in Maine was working for Gov. James Longley in the executive department. I had budget and policy responsibility for marine resources, agriculture and conservation. It was a real eye opener for me to see how government and public policy influenced busi- nesses. I found that interesting, but I got to a certain point where I wanted to do something versus talking about it. Being the change seemed interesting to me. MB: How did IDEXX get started? DS: I rented a little building down on the Portland waterfront. I thought it would be more interesting — if we're interested in great jobs and exporting prod- ucts and economic development and entrepreneur- ship — to do something versus talk about it. I rented space for IDEXX at 58 Fore St. at the Portland Co. e funny story is that no one could tell if it was hooked up to a sewer. And there was a code issue in Portland. So people from the city showed up with what looked like a pirate's map. It was all folded and everything. And they were saying, 'Yes, this line looks like it,' and someone else would say, 'I think that's just a fold in the piece of paper.' No one could decide whether it was occupiable. ey decided to flush dye down all the toilets to see where it went. Four or five city of Portland workers went out and took a manhole cover off, looked down it with flashlights and said, 'Yes, I think I see a little bit of dye there, I think it's all good.' Meanwhile, I was looking at a huge amount of dye spreading out into the bay. I was thinking to myself, 'Should I say anything?' As they went back to their cars somebody said, 'Wait a second, what's happened to Casco Bay?' is is the early stages of entrepreneurship. We had to get $6,000 to connect to the sewer. It looked like it was going to be a deal breaker, but we did it. P H O T O / T I M G R E E N WAY David Shaw on his Harley-Davidson at his Prouts Neck home. Shaw has been riding motorcycles since he was a teenager. N OV E M B E R 2 , 2 0 1 5 14 A business icon looks ahead Mainebiz talks to IDEXX Laboratories Inc. founder David Shaw to learn more about his investment philosophy B y L o r i V a L i g r a

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