Mainebiz

V O L . X X I I N O. X X S E P T E M B E R 5 , 2 0 1 6 28 W hen omas Rainey inter- viewed to become the new executive director of the Maine Center for Entrepreneurial Development, he knew the Portland- based nonprofi t already was running a defi cit for this year and that raising money would always be a big part of his new job. Rainey wasn't scared off by the $130,000 to $150,000 budget short- fall the former head of MCED, Don Gooding, had cited as among the reasons he resigned. MCED Board Chair Catherine Renault, who led the search for the new executive director, was among those who helped con- vince Rainey that this year's funding is "completely doable," adding that the defi cit is not that high. Renault, principal of Innovation Policyworks LLC in Brunswick, told Mainebiz she and Rainey went through the books scrupulously before he agreed to take the job. "When I met with the MCED board we went through the laundry list of opportunities being pursued right now and they raised my level of com- fort that they had suffi cient funding for me to come on board and start doing the work that I need to do," Rainey, 54, told Mainebiz during a phone inter- view from his home in Phoenix as he readied for the cross-country drive to his new job, which he starts Sept. 6. "Everywhere I've been, one of the responsibilities of running a program like this is raising funding for the organi- zation," he adds. "I try to develop a strat- egy that is focused on self-sustainability so that at some point in time we have enough stakeholders who are reliable and willing to put resources into the organi- zation because you are getting results and you don't have to worry as much day-to- day about the funding piece." Working the funding chain MCED, a private nonprofi t launched in 1997, is considered a key piece of Maine's infrastructure designed to help entrepreneurs, startups and the general business community. Rainey has to his credit 20 years in technology-based economic develop- ment in rural and urban communi- ties across the country. In Phoenix, he launched the $5 million Bioinspire Medical Device Accelerator medical device accelerator. In Flagstaff , Ariz., he developed and served as president of the Northern Arizona Center for Entrepreneurship and Technology incubator, helping raise $5 million in real estate development funds and $220,000 in initial operating funds. At the University of Vermont, where he was a consultant, he raised $3.6 mil- lion and helped develop and serve as president of the Vermont Center for Emerging Technologies. In Florida, he was responsible for developing six NASA-funded business incubators for which he helped raise $4 million for new buildings and staff centers. In letters supporting his work that Rainey supplied to Mainebiz, Janet Napolitano, who was Arizona governor when the Northern Arizona Center for Emerging Technologies was completed, thanked Rainey, writing, " e addition of the incuba- tor facility in the northern region of the state plays a signifi cant role in developing and bringing emerging technologies to northern Arizona." She commended the center for "hav- ing the vision to create this incubator facility to encourage innovation and entrepreneurship." Like northern Maine, the northern part of Arizona once had an economy based largely on timber, but now has a strong tourism sector because of its proximity to Grand Canyon National Park. In the private sector, there is a developing industry around medical device manufacturing. Experience in states like Arizona, Vermont and New Hampshire, with similarities to Maine, gave Rainey an edge with MCED's board. He worked in P H O T O / C O U R T E S Y O F M A I N E C E N T E R F O R E C O N O M I C D E V E L O P M E N T Connections, economic diversification top to-do list F O C U S connectivity point design & installation / ME-NH-MA / 866-782-0200 / connectivitypoint.com network cabling / audio visual / security / wireless / telephone Connectivity Point specializes in computer cabling which is the foundation of your IT network; audio/visual equipment like fl at-screen TVs; sound masking systems to improve your offi ce acoustics; and security systems to keep your assets safe. We're like IT guys. With tools. FREE ESTIMATES at connectivitypoint.com connectivity is everything. New MCED director takes over Thomas Rainey, the new executive director of the Maine Center for Entrepreneurial Development, has experience raising money in Arizona, Vermont and Florida. He takes over for Don Gooding, who resigned in the spring.

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