FOR IMMEDIATE RELEASE
August 18, 2014
Brunswick, Maine – Edie Johnston, President and CEO of Eldertide LLC was presented with the U.S. Small Business Administration’s (SBA) prestigious Tibbetts Award in a White House ceremony held on June 16th. The Tibbetts award is presented annually by the SBA to “innovative entrepreneurs and high growth small businesses like [Eldertide] who help power our economy and move it forward by creating new jobs and making our industries globally competitive.” Eldertide was one of twenty-three companies recognized with the Tibbetts award this year, and the only company from New England to be selected. Johnston and her son Geo attended the White House ceremony accompanied by Karen West and Shane Beckim of the Maine Technology Institute (MTI). MTI nominated Eldertide for the Tibbetts award. MTI’s SBIR Technical Assistance Program (TAP) helped Eldertide prepare successful SBIR Phase I and II grant applications to the USDA.. Eldertide and MTI have worked together since 2007 when Eldertide received its first Seed Grant from MTI.
Johnston expressed great satisfaction in winning the Tibbetts award saying “we’ve worked hard to get to where we are today, and our SBIR funding and relationship with MTI have been instrumental in helping us develop our products and processes, and grow our business. This award proves how innovation and commitment make a difference.” Brian Whitney, Acting Director of the Maine Technology Institute, said, “This is an outstanding accomplishment for this MTI-supported company.” “The Tibbetts Award is recognized as the ‘Oscar’ of the SBA SBIR/STTR Program, and Edie and her son are incredibly deserving of the acknowledgment. They symbolize the success of MTI and its investments in helping to encourage innovation and fanning the entrepreneurial spirit that exists in Maine.”
Eldertide LLC was founded by Ms. Johnston in 2005 to develop and market nutraceutical products based on the medicinal powers of elderberries. The berries are known for strengthening immune system functions and for their strong antiviral and anti-inflammatory properties. Ms. Johnston discovered that local Maine elderberries had higher concentrations of key antioxidants and other valuable elements. According to Johnston, “when we tested local elderberries in our lab the assays showed the antioxidant levels, nutrients, and horticultural attributes of the Maine-based plants to be significantly higher than those grown in other regions.” Encouraged by those results, Johnston and her son Geo developed unique harvesting and manufacturing processes that enhanced the antioxidant levels in the already antioxidant-rich berries. They sell their products under their sister company Maine Medicinals, and is the top-selling nutraceutical company for Whole Foods Markets in the Northeast.
The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs are federal grant programs providing funding for early-stage, high risk research and development of innovative technologies leading to commercialization. The mission of the SBIR program is to:
• stimulate technological innovation
• use small business to meet federal research and development needs
• encourage diverse participation in technological innovation
• increase commercialization of federal research
Karen West, lead consultant of the Maine Technology Institute’s TTAP said “helping companies prepare compelling SBIR/STTR applications is one of MTI’s key initiatives. We have been very successful in this regard with more than ninety companies winning approximately $87 million dollars in SBIR/STTR grants in the last ten years.” West continued, “companies are not required to use MTI’s TAP services to apply for an SBIR/STTR grant, but our success in working with companies like Eldertide is indicative of the effectiveness of the program.” Johnston agreed saying, “MTI’s team was instrumental in helping us prepare SBIR applications, as well as for our nomination for the Tibbetts award.”
The Maine Technology Institute is a non-profit, state-chartered organization whose mission is to promote innovation in Maine through the funding of new technologies, and connecting entrepreneurs and start-up companies with the resources they need to help them commercialize their products and grow. Visit www.mainetechnology.org for more information.