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Maine Economic Improvement Fund


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UMaine Highlights - Business Incubation

The University of Maine is a partner in the operation of two of the state’s Advanced Technology Development Centers or “business incubators.”

The Target Technology Incubator in Orono provides both physical space and business counseling services to technology companies. The Target Technology Incubator is a partnership of the University of Maine, Bangor Area Target Development Corporation, the town of Orono and the state of Maine. The New England Board of Higher Education (NEBHE) recently selected the Target Technology Incubator for the Maine State Merit Award. The incubator was also profiled in the August 19, 2013 issue of MaineBiz.

The second is the Maine Aquaculture Innovation Center that operates aquaculture and marine science incubators at both the UMaine Center for Cooperative Aquaculture Research in Franklin, Maine, and at the UMaine Darling Marine Center in Walpole, Maine.

UMaine has formed a collaboration with the Maine Center for Entrepreneurial Development and the Maine Aquaculture Innovation Center called the Maine Business Incubation System (MeBIS) to share resources and expertise, while providing better services to entrepreneurs statewide. The incubators work together to coach entrepreneurs and help them access R&D, financing and mentoring resources. As part of this partnership, UMaine also jointly provides the Top Gun entrepreneurial development program, which provides intensive training and mentoring to approximately 20 high-potential entrepreneurs each year.

The Target Technology Incubator

The Target Technology Incubator currently has five tenant companies and four affiliate companies. Combined, tenant companies raised more than $2.4 million in investment capital and research grants this year, more than doubling FY12 and added 17 new full-time positions. These totals include eight tenant or affiliate companies who graduated from the incubator in FY13.

Incubator Tenants

Market Tenants

Target Affiliates Program

Target’s Affiliates Program allows companies that are not tenants to benefit from many of the services and resources available at the center. Affiliates include existing technology companies, start-ups and University researchers who are commercializing new technologies.

New Affiliates

Existing Affiliates

The Center for Cooperative Aquaculture Research – Incubation at Franklin

The Franklin Center (CCAR) provides on-site space for start-up aquaculture businesses. FY13 has seen the completion of significant incubator space expansion and fit-out through grants from the 2009 Maine Technology Asset Fund (R&D Bond). In addition, the Maine Aquaculture Innovation Center has expanded incubator resources at the Darling Marine Center (DMR) in Walpole, Maine, through grants from the Maine Technology Asset Fund.

Aquaculture Business Incubation Clients in FY13

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Contact Information

Maine Economic Improvement Fund
5717 Corbett Hall
Orono, ME 04469
Phone: 207.581.2201 | Fax: 207.581.1479E-mail: um.oied@maine.edu
The University of Maine
Orono, Maine 04469
207.581.1110
A Member of the University of Maine System