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. The UMS BOT has applied these overall Strategic Outcomes to research and development, and has established specific goals and metrics for the Maine Economic Improvement Fund to help achieve these Strategic Outcomes. These metrics were approved at the end of FY14, and are applied to all FY16 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 FY16, the state’s $17.35 million MEIF investment was leveraged at a rate of 3:1 by our UMS campuses for an additional $50.3 million in federal and private-sector grants and contracts in the seven sectors.
- MEIF funds and the external grants and contracts they leverage funded the work of over 400 researchers and technicians, and more than 800 graduate and undergraduate
- 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 on development projects with large and small businesses and startups, and provided R&D support to over 500 companies and individuals.
As required in the statute that created MEIF 19 years ago, included with this FY16 MEIF report are financial and informational details.
If you have questions about MEIF projects, this report or other University of Maine System research and economic development programs, please contact me.
James H. Page
University of Maine System
University of Maine System Maine Economic Improvement Fund Fiscal Year 2016