Mainebiz Interviews Ward About Innovation, Economic Development in State
Jake Ward, vice president for innovation and economic development at the University of Maine, was interviewed by Mainebiz for an article about how the state is being inventive with limited resources. Ward said continuous innovation is key to driving economic growth in Maine, and the state lacks the critical mass where innovation is seen as necessary. He said UMaine contributes to the state’s economic development by having 300–400 collaborations with private-sector companies that bring in about $4 million in revenue a year; signing seven or eight agreements a year to license its technology to companies such as Advanced Infrastructure Technologies of Orono, which is developing the university’s Composite Arch Bridge technology; and spinning out two to three companies a year, so far totaling 25–30.