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 the strategic outcomes. These metrics were approved at the end of FY2014, and are applied to all FY2019 MEIF activity and included in this annual report. New goals for FY2020 and beyond are presented at the conclusion of this report and are aimed at advancing the goals of the University of Maine System Research and Development Plan, and the Maine Economic Development Strategy. By statute, MEIF-funded activity is restricted to Maine’s seven statutorily established R&D sectors.
In FY2019, the state’s $17.35 million MEIF investment was leveraged at a rate of 4.4:1 by our UMS campuses for an additional $76.57 million in federal and private-sector grants and contracts in the seven sectors.
- MEIF funds, and the external grants and contracts they leverage, supported the work of 587 researchers and technicians, and 1,054 graduate and undergraduate students.
- These grants and contracts provided more than $2.22 million to purchase major equipment to upgrade and outfit university laboratories.
- Maine’s public universities secured new patents, worked on development projects with large and small businesses and start-ups, and provided R&D support to 530 companies and individuals.
As required in the statute that created MEIF, included with this FY2019 MEIF report are financial and informational details.
If you have any questions about MEIF projects, this report or other University of Maine System research and economic development programs, please contact me.
The Maine Economic Improvement Fund Fiscal Year 2019