Maine Technology Institute
Colleen L. McCracken is a seasoned business advisor and financial executive with extensive experience across various leadership roles. Currently, Colleen serves as the CEO and Founder of CLMC LLC Strategic Business Advisors and as an Executive in Residence at the Maine Technology Institute. Colleen also functions as an Executive Coach and Business Advisor with Career Management Associates. Previously, Colleen founded and partnered with Quad Group (Maine) and held the role of President/CEO at Planet Dog, overseeing significant growth and profitability in the pet products industry. Colleen has also been the Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer at Thos. Moser, where strategic planning and operational efficiencies were emphasized to counteract economic challenges. Educational credentials include a Master's Degree from the Questrom School of Business at Boston University and a Bachelor of Science in Accounting from Bentley University.
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Maine Technology Institute
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The Maine Technology Institute (MTI) is an industry-led, publicly-funded, nonprofit corporation that offers early-stage capital and commercialization assistance in the form of competitive grants, loans and equity investment for the research, development and application of technologies that create new products, processes and services, generating high-quality jobs across Maine. The Maine Technology Institute was established by the Maine State Legislature in 1999. MTI, working with partners across the state, “shall encourage, promote, stimulate and support research and development activity leading to the commercialization of new products and services in the State's technology-intensive industrial sectors to enhance the competitive position of those sectors and increase the likelihood that one or more of the sectors will support clusters of industrial activity and to create new jobs for Maine people.” MTI is one element of the State's economic development strategy to contribute to the long-term development of a statewide research, development and product deployment infrastructure. See full statute. Every $1 of MTI funds received generates an additional $14 in non-MTI funding. MTI funded companies say that MTI funding has been critical to their commercial success. Since 2000, MTI has funded 1,295 technology projects in Maine, a financial commitment of $106 million that has leveraged over $173 million in additional funding for a total of $280 million.