UMaine R&D spending data cited in Mainebiz article on startups
The University of Maine was mentioned in the Mainebiz article, “Startups in Maine need to more quickly become mid-sized companies.” The Maine Development Foundation’s newly released “Measures of Growth 2016” report states Maine’s total percentage of gross domestic product spent for R&D in 2011 was $535 million, which is about 1 percent of the state’s GDP and about $1 billion short of the 3 percent benchmark, according to the article. Maine’s percentage of total R&D funding from the private sector — 58 percent — also trailed the nation and region, and universities and colleges had 27 percent of R&D spending, the report found. National Science Foundation data showed that R&D spending at UMaine rose to $101.2 million in 2014 from $77.6 million in 2013, the article states.