UMaine Students Win Libra Grants to Boost Business Launches
Contact: Rory Eckardt, (207) 949-4401; William Sulinski, 866-6562; George Manlove, 581-3756
ORONO — Two UMaine business students who have started their own businesses through the university’s Target Technology Innovation Center received $5,000 seed grants from the Portland-based Libra Future Fund earlier this month.
Rory Eckardt of Orono, beginning his third semester in the Maine Business School MBA program, received a grant to assist with the development of his year-old forestry consulting business. William Sulinski of Dedham, with business partner Matthew Rodrigue, a 2004 engineering graduate from Wilton, devised conceptual plans for producing and marketing a new device to improve the efficiency of home heating oil delivery. Sulinski will graduate in December with an undergraduate degree in financial economics.
“Our board determined that both Rory and William are pursuing ideas that have great potential for economic development in Maine,” says Erik Hayward, president and treasurer of the Libra Future Fund. “Libra Future Fund’s mission is to keep talented, young people in Maine by awarding grants that enable them to pursue projects or businesses of their own design. Rory and William are exactly the type of young talent we want to keep in Maine. They are academically accomplished and they have put a lot of thought and effort into their businesses.”
Eckardt, who holds an undergraduate degree from UMaine in Forestry Operations Science, launched his forest consulting business about a year ago and says he can help loggers, foresters and landowners in Maine make the most efficient use of their property and equipment.
“Forestry companies are lean,” Eckardt says. “Many of these companies lack the resources to identify and predict changing trends, which can affect their viability in an uncertain marketplace”
Eckardt already is signing on clients throughout Maine, he says. With a background in the industry and help with market research, Eckardt identified a need for improvement in the business aspect of forestry and forest product manufacturing companies.
Sulinski, whose family is in the heating oil distribution business, currently is meeting with engineering design firms and investors to patent his wireless oil tank monitoring system and get it to market. Rodrigue, who plans to begin a Harvard Business School MBA program in the fall, will assist Sulinski as an advisor.
The Target Technology Innovation Center on Godfrey Road in Orono has provided both Eckardt and Sulinski with office space, business counseling, access to advanced technology equipment, business modeling software and data, as well as the ability to connect with other new entrepreneurs and potential investor connections.
“We are thrilled that these two individuals were recognized by Libra and received these awards,” says Debbie Neuman, director of the Target Technology incubator. “They are exceptional individuals who possess the intelligence, commitment, energy, enthusiasm and business ideas that hold great promise for the state of Maine. We are proud to have them located at the Target Technology Incubator.”
The Libra Future Fund is a “wonderful program that can help ‘kick-start’ and support young entrepreneurs in Maine,” she adds.
Dan Innis, dean of the College of Business, Public Policy and Health and director of the Maine Business School, is pleased with the accomplishments of Eckardt, Sulinski and Rodrigue.
“Their businesses are exactly the type of entrepreneurship that the Maine Business School wants to promote — businesses that will grow Maine’s economy while providing attractive careers for young people in Maine,” he says.
Target Technology Center was developed by the Bangor Target Development Corporation in partnership with the University of Maine, the state of Maine and the city of Orono and was one of the first four designated Applied Technology Development Centers established in Maine.