MTI November Updates: Innovation Milestones and What’s Ahead

After an extended stretch of summer-like weather, it seems November has returned us to fall. 

I am excited to announce some staff promotions here at MTI, starting with Bianca Kowal who has been promoted to Director of Operations, a position which runs MTI’s day-to-day functions (marketing, office management, vendor and consultant relationships, and internal processes), manages assigned projects, supports me directly, and works with the Chief Investment Officer, the Director of Finance, and the directors of the Maine Life Sciences Center and Blue Economy Center.  Lou Simms has been promoted to Chief Investment Officer and will lead the investment programs and team, chair the Investment Committee, oversee the health and performance of the portfolio, help refine investment policies, and coordinate funding and reporting priorities with me and the Director of Operations. Lou will also continue to manage a portfolio of investments directly. Other staff promotions include Emily Braley, who moves from Coordinator to Manager of the Maine Entrepreneurial Resource Corps (MERC), and Celina Gauthier who moves from Office Coordinator to Office Manager.  My sincerest congratulations to all four of these staff members on their well-deserved promotions.

Other updates this month include the first Maine Launch Summit, presented by the Maine Space Corporation, which took place on November 5 and 6 at the Roux Institute in Portland. The event was a success by any measure with sessions evaluating three possible launch concepts: from land, sea, or air with an objective to identify not only where launches occur but also the ecosystem that could generate the greatest long-term economic value, workforce opportunities, strategic partnerships, and commercial competitiveness for Maine. Additional sessions addressed the space supply chain. 

The Life Sciences Center hosted its first Founders Forum which brought together MTI-funded life sciences companies from the last two years. The event had great turnout with 110+ registered, including 35 MTI portfolio startups. nearly half of the attendees were founders or company leaders. 

In other center news, the Blue Economy Center is now in its fourth month of operation, with several initiatives moving from planning to execution, including Maine’s first Ocean Account. The Ocean Account will be a public dataset tracking key measures of Maine’s ocean economy, including jobs, wages, county-level investment, and infrastructure. It remains on track to launch by January 2027.

As we shift into cooler months and a busy holiday season, we will begin planning for a productive and impactful 2027.

Until next time, be well,

BW