Fueling innovation and economic growth in Maine by providing funding and support to technology-based businesses and entrepreneurs. The Maine Technology Institute (MTI) was created to 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. MTI serves as a catalyst to help transform research into new products, companies, and jobs that enhance Maine's economy. Established in 1999 by the Maine Legislature, MTI has invested over $75 million in more than 1,500 projects statewide. These investments have helped Maine businesses develop new technologies, create high-quality jobs, and attract additional funding from federal and private sources. MTI focuses on seven key technology sectors: agricultural technology, aquaculture and marine technology, biotechnology, composite materials technology, environmental technology, information technology, and precision manufacturing technology. The Business Innovation Program (BIP) is MTI's flagship funding mechanism designed to support Maine-based technology companies at critical stages of development. The program helps entrepreneurs and businesses research, develop, and commercialize new products and services. Seed grants of up to $25,000 are available to businesses in the early stages of development. These grants help companies conduct feasibility studies, prototype development, or market research to validate their technology concepts. Development awards ranging from $25,000 to $125,000 support businesses as they refine their technology and approach commercialization. These funds help with advanced prototyping, testing, and initial commercialization efforts. Commercialization grants of up to $500,000 support established Maine companies ready to bring their technology to market. These grants help with scaling production, market expansion, and customer acquisition strategies. Before applying, we strongly recommend scheduling a consultation with MTI staff to discuss your project and determine which funding opportunity best matches your needs. This can significantly improve your chances of success. Submit a brief Letter of Intent outlining your business, project, and funding needs. LOIs are reviewed on a rolling basis. Successful LOI submissions will be invited to submit a full application. Complete the comprehensive application form, providing detailed information about your business, technology implementation plan, budget, commercialization strategy, and how the project will benefit Maine's economy. Applications are reviewed by MTI staff and evaluated by outside technology experts in your field. This technical review assesses the technical merit, commercial potential, and economic impact of your proposed project. The MTI Board reviews applications that have received positive technical assessments. The Board makes final funding decisions based on alignment with MTI's mission and available resources. If your application is approved, you will enter into an award agreement with MTI detailing the terms of the funding, reporting requirements, and project milestones. MTI accepts applications on a rolling basis with specific funding cycles throughout the year. Please note these key dates for 2023: Note: Deadlines falling on weekends will be extended to the following business day. MTI reserves the right to adjust deadlines as necessary. Yes, but the technology must have clear commercial potential. If you're a university researcher, we recommend applying through a spin-off company or partnering with an existing Maine business to increase your chances of success. Most MTI funding takes the form of grants that do not need to be repaid, though some specialized programs may offer recoverable grants that require repayment only if the project achieves commercial success. Yes, a percentage of your funding may be used for salaries of personnel directly engaged in the funded project, typically as part of your matching funds contribution. Success rates vary by program cycle, but generally about 30-40% of full applications receive funding. Our pre-application consultation can help improve your chances of success. For seed grants, decisions are typically made within 6-8 weeks of application submission. For development awards and commercialization grants, the process usually takes 4-6 months from LOI to funding decision. You can apply to different programs for distinct projects, but you typically cannot have multiple active applications for the same project simultaneously. Ready to take your Maine technology business to the next level? Contact MTI today to discuss how the Business Innovation Program can help you achieve your goals. Maine Technology Institute 51 Community Drive Augusta, ME 04330 (207) 622-4048 info@mainetechnology.org www.mainetechnology.org Monday-Friday: 8:00 AM - 5:00 PM Weekends: ClosedMaine Technology Institute Business Innovation Program
About the Maine Technology Institute
Our Mission
Our History
Target Sectors
Business Innovation Program
Seed Grants
Development Awards
Commercialization Grants
Program Statistics
Metric Value Total Companies Funded 1,500+ Total Awards Given 2,200+ Total Funding Distributed $75 million+ Jobs Created 5,000+ Additional Leveraged Funding $400 million+ Success Rate for Funded Companies 78% Eligibility Requirements
Business Requirements
Project Requirements
Exclusions
Application Process
Pre-Application Consultation
Letter of Intent (LOI)
Full Application
Review Process
Board Review
Award Agreement
Application Deadlines
Application Type Letter of Intent Deadline Full Application Deadline Board Review Seed Grants Rolling Acceptance Rolling Acceptance Monthly Development Awards - Cycle 1 January 15 February 15 April Development Awards - Cycle 2 May 15 June 15 August Development Awards - Cycle 3 September 15 October 15 December Commercialization Grants - Cycle 1 February 1 March 1 May Commercialization Grants - Cycle 2 June 1 July 1 September Commercialization Grants - Cycle 3 October 1 November 1 January Frequently Asked Questions
Can university researchers apply for MTI funding?
Is MTI funding a loan or a grant?
Can I use MTI funding to pay salaries?
What is the typical success rate for applications?
How quickly are decisions made?
Can I apply for more than one MTI program at a time?
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