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MTI Blog

11/2/11 - Maine’s Innovations Attract National Attention and Investment

One of MTI’s goals this past year has been to attract outside investment and funding to accelerate the growth of Maine’s tech-based businesses by partnering with a diverse set of organizations.  Our collective efforts have yielded some exciting announcements that promise to grow entrepreneurship and innovation across the state and raise Maine’s profile in the Northeast and nationally.

On October 7, the Blackstone Charitable Foundation announced Blackstone Accelerates Growth, a three-year, $3 million initiative that will enable 250 Maine start-up and existing companies to  become part of peer networks called regional innovation hubs and access coaching, training and college interns to help them to accelerate their growth. Today, on November 2, the US Department of Commerce is announcing that a New England clean technology partnership, which here in Maine includes MTI, E2Tech, the Maine Regional Redevelopment Authority and the University of Maine, is one of six winners of the national i6 Green Challenge, an initiative to drive technology commercialization and entrepreneurship in support of a green innovation economy and new jobs.  Last but certainly not least, CashStar, an MTI award recipient, has just announced that it has successfully secured $12 million in financing from FTV Capital, an investment firm based in New York and San Francisco.

As we all work together to create good jobs across Maine through the commercialization of new technologies, it is worthwhile to note this increased recognition and how it can leverage future success for companies statewide.  As Maine is increasingly identified as a hub of entrepreneurship and innovation across our traditional and emerging industries, this recognition will surely lead to new relationships, new collaborations and new opportunities that accelerate growth for companies across the state.

 

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