MTI works with entrepreneurs, innovators, established businesses and institutions conducting research and development (R&D) to help fund and grow their companies. Our programs help entrepreneurs and companies accelerate their progress to the market, leverage additional private and public investment, and ultimately, support their success while expanding their economic impact in Maine.
MTI has recently updated its Business Innovation Funding program to increase access to the coaching and capital that Maine businesses need to grow. The changes are designed to speed Maine technology-based businesses along the development cycle of bringing new products to market and to simultaneously accelerate these companies’ potential for profitability and growth.
MTI’s Business Innovation Program has helped fuel Maine’s innovation economy, growing companies and good jobs across the state since 2000. In the past year alone, MTI awarded $7.291 million of grants and loans to Maine companies that were ready to develop a new technology and bring it to market. MTI investments also help support higher wage jobs in Maine. Historically, the average income in Maine’s technology sectors has been $49,053, higher than Maine as a whole at $36,317 and higher than the US Average of $45,563.
Learn more about MTI's funding for business innovation in Maine at an upcoming workshop or webinar.
If you have an idea for a technology-based product, service or process innovation AND your idea fits into one of Maine’s seven targeted technology sectors AND you can describe how your research and development project will result in a new technology AND ultimately lead to increased business growth or profitability, we invite you to apply for funding! You can meet with members of the MTI team by contacting our office or by connecting at any of our regularly held workshops. Or if you'd rather stay close to the office, join one of MTI's upcoming webinars for more information about funding your technology business.
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.Learn more about MTI's funding for Maine's industry clusters at an upcoming workshop or webinar.