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Business Accelerator Program

A Component of the Business Innovation Program

Over MTI’s first decade of funding, the track record of MTI-funded companies demonstrated that projects with strong, experienced management teams and/or projects that incorporated business development activities into its business plan typically had higher rates of commercial success. It has been MTI’s experience, as well as the experience of technology-based economic development (TBED) programs in other states, that this is particularly important for start-up/initial stage companies, and doubly so when entrepreneurs have limited previous experience growing a technology company or lack a management team with the necessary expertise.

 Accordingly, 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).

In both cases these are grant funds provided to the company in addition to their SBIR or DL funding (i.e. in the latter case, they do not have to be repaid to MTI like the DL funds do upon commercialization).

Eligible companies can use these grant funds to support commercialization and business development/capacity activities not eligible for SBIR or DL funding but required to advance the new technology to market and to firmly establish and increase the scope and sustainability of the business enterprise. The grants are intended to increase the competitiveness of the company products/services by providing funds directed at commercialization, business and management team development and company organization and scalability.

Business Accelerator Grant Application Process

Some documents are in Portable Document Format and require Adobe Reader for viewing. If you do not have this software, it can be downloaded free of charge at the Adobe web site. Email questions about the application to info@mainetechnology.org.

Step 1: Download the Business Accelerator Grant Application Instructions (PDF) 
Step 2: Discuss your project with a member of the MTI Business Innovation Program
Step 3: Register online to obtain Form A (Registration)
Step 4: Download all Business Accelerator Grant Application Forms

Application Forms:
       Form B Project Budget (Excel)
       Checklist (Word)

Step 5: Prepare, proofread, and submit an application
Step 6: Receive notification of grant decision rendered by MTI Board of Directors

The next deadline for Business Accelerator Grant applications related to an SBIR/STTR Award is March 6, 2012, by 5:00 PM (EST).  Applications received after the deadline will not be accepted.  Notification of Awards is expected on March 28, 2012.

The next deadline for Business Accelerator Grant applications related to an MTI Development Loan is March 1, 2012, by 5:00 PM (EST).  Applications received after the deadline will not be accepted.  Notification of Awards will be in conjunction with the Development Loan review process.

Additional Resources

U.S. Department of Labor Employee and Wage Estimates

Reviewer Forms

Review Committee Score Sheet (Excel)
Review Committee Score Sheet Guidance (PDF)

Grant Recipient Forms

Business Accelerator Grant Agreement (coming soon)

For more information, contact Shane Beckim at 582-4790 x210 or email sbeckim@mainetechnology.org.