Authorization

Grants of Up to a Half-Million Dollars Available to Stimulate Innovation and Job Creation in Maine

BRUNSWICK, Maine, Feb. 19, 2020 /PRNewswire-PRWeb/ --A The Maine Technology Institute (MTI) is soliciting proposals from Maine organizations looking to make investments in R&D equipment, infrastructure and technology upgrades to drive innovation and generate economic impact in Maine. MTI has $2 million in available funding for the Maine Technology Asset Fund 2.5 program and is capping individual
funding requests at $500,000 or less."MTI is seeking proposals that will provide extraordinary economic benefits to Maine and its citizens," said Brian Whitney, MTI's President. "We look forward to receiving, reviewing and assessing the proposals and, ultimately, working with Maine's public and private sector entities to bring about the kind of economic stimulus and employment opportunities for Mainers that lawmakers and the public envisioned when approving this bond."Potential applicants should demonstrate how the bond funding will complement their own matching investments to the greatest possible extent and for the greatest possible economic impact, as well as why their company or project falls within the research, development and commercialization continuum. Applicants will participate in a competitive process and, utilizing a 10-slide pitch deck, will need to show how the grant funding will help them gain and hold market share, increase revenues, and grow or preserve jobs for Maine people. After reviewing and evaluating the proposals, and soliciting additional diligence materials from finalists, MTI will make funding awards and will require that the state dollars are matched with at least an equivalent amount of federal or private funding.The MTAF2.5 funding round will strive to prioritize support for companies or organizations representing rural or economically disadvantaged regions of Maine.Projects need to fall within Maine's seven targeted technology sectors: biotechnology, aquaculture and marine technology, composite and advanced materials, environmental technology, advanced technologies for forestry and agriculture, information technology, and precision manufacturing technology.
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