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MTI Blog

7/10/12 - Growing Companies, Growing Maine

As MTI moves forward with its leadership transition, speaking for the MTI Board of Directors,  I would like to take this opportunity to thank Betsy Biemann for her full and very dedicated tenure as President. We have the highest regard for her leadership and her commitment to Maine’s innovation economy.  Betsy transitioned MTI from a start-up to a growth organization. She effectively navigated the corporation through this period, generating a higher return on investment for Maine and putting MTI and Maine on the national stage as a leader in economic development.  She left MTI well-positioned to transition to its next stage of growth and even higher returns to the Maine economy.  We are pleased that Joe Migliaccio, Manager of MTI’s Business Innovation Program, will serve as Interim President while a search for a new President is underway.

From its start and at its core is MTI’s direct investment into any size business that is attempting to stay competitive by developing new products, services or process developments. This critical mission supports Maine’s entrepreneurial energy and is based on the understanding that it is the innovation economy and the development of new revenues and competitive businesses that drive economic growth and quality job creation. MTI’s core mission is intact and continues to show results.

The Maine Legislature’s bold decision to make a direct budget appropriation to MTI for the Business Innovation Program suite of funding ensures continued on-going funding for Maine’s growing businesses that is independent of the bonding process, which allocates funds periodically toward R&D. Maine’s businesses continue to grow and MTI continues to provide capital and coaching to support that growth.

MTI’s next funding applications deadlines are coming up:  TechStart on August 7 and September 4; Seed Grant on August 9; Development Loan on July 12 and November 1. Call us anytime for information on submitting an application. And read more about MTI-funded company successes in the Innovators in the News section, here and on our website where we post new successes every week.

Jim Detert

MTI Board Chair

Site Director, Molnlycke Health Care  

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