Maine Technology Institute (MTI)
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.
TechStart Grants are offered monthly, for up to $5,000 per project. Funds must not be readily available from another service provider. TechStart Grants also may be used to support specific activities such as business plan development, intellectual property filings, market analysis, or planning and preparation activities related to the submission of Federal SBIR/STTR Phase I grants or Federal Broad Agency Announcement for technology development. TechStart Grant projects must have clearly defined deliverable outcomes and endpoints for the specifically funded scope of work not to exceed six months in duration. Each grant requires a 1:1 match consisting of actual cash, salaries, staff time, or equipment directly attributable to the proposed project. Funded projects must fall under one of Maine's seven targeted technology sectors.
Development Loans of up to $500,000 per application are offered three times a year to support research and development of new and/or enhanced products, processes or services leading to commercialization. All projects require matching investments of 1:1 and must fall under one of Maine's seven targeted technology sectors. MTI offers Development Loans as direct investments in companies that are pioneering Maine’s future through their technology innovations. Loan recipients are companies undertaking research and development that will enable them to grow and remain competitive in the global marketplace.
MTI Seed Grants of up to $25,000 are offered three times a year to support early-stage research and development activities for new products and services that lead to the market. Funded activities may include activities such as proof of concept work, prototype development, field trials, prototype testing, pilot studies, or technology transfer activities. Funded projects must fall under one of Maine's seven targeted technology sectors.
Cluster Initiative Program
MTI is invested in the development of Maine's technology-intensive clusters of the last few years and is seeking additional analysis of clusters in Maine - the opportunities and challenges - to inform this process. We recognize that there has been ongoing cluster analysis during this same time period - Nationally, Regionally, on a statewide level within Maine, and within individual clusters - and we are looking for some synthesis, analysis, and updating of this information. MTI's Cluster Initiative Program awards up to $50,000 for feasibility and planning and up to $500,000 for collaborative initiatives that boost the strength and scale of Maine's high-potential technology intensive clusters.
Business Accelerator Program
MTI has added a Business Accelerator Grant to its Business Innovation Program that is available to two categories of companies. Companies that have recently won federal Small Business Innovation Research Phase I and Phase II grants, and Start-up/Early Stage Companies that win MTI Development Loans (DL).
Equity Capital supports the Business Innovation Program grant and loan recipients as they advance their company to full commercialization and business growth. This funding, either equity investment or convertible to equity, helps attract initial early stage/pre-seed outside investment (typically referred to as Series A) and/or “tops off” a meaningful size investment round so that it is sufficient to carry a company to its next stage.
Requests are accepted on a rolling basis.