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Sponsored by: Bioscience Association of Maine
Updated: March 4, 2024

Innovationland


MedRhythms makes a device that uses music to help stroke victims improve how they walk. Marin Skincare’s products contain a healing protein derived from lobsters. Kennebec River Biosciences improves aquatic animal health through surveillance and vaccines.

By Agnieszka Carpenter, Executive Director of the Bioscience Association of Maine

These are just three of the nearly 500 life science companies in Maine, an industry that is seeing strong, steady growth and is poised to become a pillar of our state’s economy.

Start-up and established companies here are increasingly collaborating with Maine’s world-class research institutions and universities to build an even stronger life science ecosystem. This is at a time when extraordinary new biotech and data tools are driving explosive growth in the high-wage field.

In Maine, the sector’s job growth of 42% over the last 5 years significantly outpaced all other industries in the state. Maine’s life science industry has a job multiplier of 2.71 compared to 1.71 in all other industries.

But we are not the only New England state to see this economic potential, and the race is on to create infrastructure and support systems that will attract and grow the most promising new enterprises.

Massachusetts is a global leader in life sciences. Last year, Rhode Island made a $45 million investment in the sector, establishing a quasi-public agency to coordinate funding and develop the state-of-the-art laboratory incubator space that startups are searching for.

Maine has unique resources that are raising its life sciences profile in the region and world. But if we want to keep pace, we must make major new investments in training, research and development.

There is good history here: In 2017, Maine voters approved a $50 million R&D bond, administered by the Maine Technology Institute. In one example, Kennebec River Biosciences tapped the fund to create new product lines and advance its research and development efforts.

The company was a small operation when it received its first award, it now employs 15 highly-skilled specialists serving global customers.

Today, Maine lawmakers are considering LD 416, a proposed $100 million bond that would target a range of Maine-based job creators, including life sciences and biomedical technology. That level of investment is crucial for Maine to compete with other New England states.

As the voice of Maine’s life science community, we support the entrepreneurs, educators, scientists and life science leaders who are already making an impact on the lives of people around the world with their products and research.

It’s time for Maine to be seen not just as Vacationland, but Innovationland.