Memo from the Chancellor
The Maine Economic Improvement Fund (MEIF) represents Maine’s ongoing commitment between the state and our public universities, working together to advance research and economic development for the benefit of all Maine people. In July 2014, the University of Maine System Board of Trustees (UMS BOT) established Strategic Outcomes and metrics to measure the performance of the University of Maine System and its campuses. Included in these Strategic Outcomes are specific goals for research, economic development and workforce development. UMS BOT has applied these overall Strategic Outcomes to research and development, and has established new specific goals and metrics for the Maine Economic Improvement Fund to help achieve these outcomes. While these new metrics were approved at the end of FY14, they are applied to all FY14 MEIF activity and included in this annual report. By statute, MEIF-funded activity is restricted to Maine’s seven statutorily established R&D sectors.
- In FY14, the state’s $14.7 million MEIF investment was leveraged at a rate of 3:1 by our UMS campuses for an additional $44,871,626 in federal and private-sector grants and contracts in the seven sectors.
- MEIF funds and the external grant and contracts it leverages funded the work of over 400 researchers, technicians, and nearly 1,000 graduate and undergraduate students.
- These grants and contracts provided more than $2 million to purchase major equipment to upgrade and outfit university labs.
- Maine’s public universities secured new patents, worked with small businesses and startups, and provided R&D support to hundreds of companies and individuals.
As required in the statute, which created MEIF 16 years ago, included with this FY14 MEIF report are financial and informational details. We continue to monitor the impact on Maine’s economy and participate in the state’s independent evaluation of these investments. We will expand the report of these outcomes in future years. If you have any questions about MEIF projects, this report or other University of Maine System research and economic development programs, please contact me.
James H. Page