The Maine Economic Improvement Fund (MEIF) was established to administer investments in targeted research and development and product innovation and to provide the basic investment necessary to obtain matching funds and competitive grants from private and federal sources.
Research and development means applied scientific research and related commercial development conducted by the University of Maine System, its member institutions and its employees and students in the target areas. Targeted areas include biotechnology, aquaculture and marine technology, composite materials technology, environmental technology, advanced technologies for forestry and agriculture, information technology and precision manufacturing technology. These targeted technologies may be amended only by the Legislature.
Specifically, these funds are to be used to
- Invest in applied research and development in the target areas within the University of Maine System; and
- Support the development of private enterprise based upon research and development performed within the University of Maine System
The most recent Science and Technology Action Plan, approved in 2010, is available at the Maine Department of Economic and Community Development (DECD) - Reports and Publications page.