Maine CED Bulletin

This monthly bulletin is published by the Maine Center for Enterprise Development (MCED). Please share this bulletin with your colleagues.
-- John Ferland, President of the MCED

Contents:

• Client Survey Illustrates Impacts of MCED Programs
• Introducing Marine Propulsion Systems, Inc.
• Lunch & Learn Workshop on May 18, sponsored by Norway Savings Bank
• Environment & Energy Tech Council Programs
• ID Cops & MPS win MTI Seed Grants
• Get involved in the MCED

Survey illustrates our economic impact on Maine

The Maine Center for Enterprise Development is providing an 8-to-1 return on the State of Maine's investment in the program, according to statistics compiled from the MCED's annual survey of client activity.

The survey was conducted in January and February 2005 to generate data to help illustrate the MCED's impact on the Maine economy from 2001 through 2004. The results found that client firms have pumped more than $9 million into the Maine economy over the last four years from in-state payrolls, taxes and spending on goods and services. This compares with the $1 million the Legislature has approved for the MCED in capital and operational support during the same time period.

As of Dec. 31, 2004, the MCED's client base totaled 27 firms providing 85 jobs. Over the past four years, these companies:

• Raised $5.6 million in total early stage capital.
• Won more than 20 funding awards from the Maine Technology Institute (MTI) and the federal Small Business Innovation Research (SBIR) programs.
• Engaged in research and development with eight universities, two federal agencies and one federal laboratory.
• Secured 26 patents.
• Opened overseas markets in Australia, Japan and the United Kingdom.

Other program highlights for MCED include:

• One third of the firms were created by entrepreneurs who moved to Maine to create or expand a businesses.
• One quarter of the client firms were created on a college campus, including the University of Southern Maine, Southern Maine Community College and Drexel University.
• Approximately 190 companies attended MCED programs in 2004.

A new affiliate at the Center

Marine Propulsion Systems, LLC, of Windham has joined the Affiliate Program for off-site companies. MPS is a systems integration company developing innovative marine propulsion technologies based on fuel cells for medium sized (40' to 50') high-end sail and power yachts. The heart of the business is a proprietary fuel processing system that will generate hydrogen on demand to power fuel cells for propulsion and auxiliary power needs. The product in development will be called "Silent Power".

The company principal is Rick Kelley, who also is leading the engineering and manufacturing. The business relationships manager is Chip Saunders.

Wednesday May 18, with Meriby Sweet

The Lunch & Learn series builds ties among entrepreneurs in the Portland area while also providing useful information on business practices, growth strategies, and business management. The MCED is pleased to recognize Norway Savings Bank as the sponsor for the Center's Luncheon Workshop Series in 2005.

The program from noon to 2:00 pm on Wednesday, May 18 is titled Building Your Executive Team: Who You Need and How to Find Them. The program focuses on management. You may have the latest and greatest technology. You have identified strong market potential. The key question is: Do you have the right people in place to commercialize that technology successfully? The individual who developed the technology is unlikely to be the individual who can successfully get it to market. Investors, especially, say, "Bet on the jockey, not on the horse." They like to see "jockeys" on management teams with a track record of successful commercialization. If you aren't that jockey what are your options? This seminar discussed assessing the strengths and weaknesses of your team, and developing solutions for building a team that will lead your company across the finish line to commercial success!

Presenter: Meriby Sweet, the Technology Center Director for the Maine Small Business Technology & Development Center Program. Ms. Sweet has more than 20 years experience with high- tech firms in California's Silicon Valley in technology ventures, ranging from hardware and lasers to sofware and e-commerce.

Sandwiches are served in the MCED conference room (101 Hague Building), and we often meet in one of the nearby SMCC classrooms. The program is free for MCED tenants and affiliates; $10 for others. Please RSVP to shotchkiss@mced.biz or by calling 767-4302 x100. Pre-registration is required.

The Environmental & Energy Technology Council of Maine (E2Tech) invites you to attend their monthly breakfast programs, typically held from 7:30 to 9:00 am at the Gilsland farm Audubon Center in Falmouth.

Upcoming speakers:
May 26: Scott Christensen, Executive Director of River Valley Growth Council.
June 23: A Conversation with George Stubbs, Senior Editor of the Environmental Business Journal.

E2Tech is an association of Maine companies, entrepreneurs and non-profit organizations who are committed to advancing sustainable job growth, research and development, and new product commercialization.

Please register early, as the forums are quite popular. Registration is $5 for members, $15 for non- members. For more information or to register, please contact contact John Rooks at jrooks@rookscom.com.

MTI Awards Grants to Identity Cops and Marine Propulsion Systems

Two MCED cleint firms won Seed Grants in the most recent round of awards announced by the Maine Technology Institute.

Identity Cops Inc. will continue research and development of its patent pending computer technology that searches hundreds of electronic databases, preemptively and proactively identifying potential security breaches.

Marine Propulsion Systems LLC will conduct research and development to support a patent filing to facilitate development and commercialization of fuel cell based marine propulsion systems with very low noise, vibration and pollution characteristics.

We are here to help you be more productive and profitable

Our job is to help new and young firms commercialize technologies by systematically assisting businesses with intellectual property and business plan needs, R&D activities, early stage financing and product commercialization.

Our off-site clients receive advice, contacts and other services, and our on-site clients benefit from more intensive attention and additional programs - including having work space outside of the owner's home. Our waterfront incubator in South Portland currently has offices and research labs available for rent.

For information on renting space or becoming an affiliated firm, please contact John Ferland at JFerland@mced.biz or call him at 207- 767-4306 x102.