Business Accelerator 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
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Step 1: Download the Business Accelerator Grant Application Instructions (PDF)
Step 2: Discuss your project with a member of the Business Ventures Group
Step 3: Register online to obtain Form A (Registration)
Step 4: Download all Business Accelerator Grant Application Forms
Form B Project Budget FOR SBIR applicants (Excel)
Form B Project Budget FOR Development Loan applicants (Excel)
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 is December 1, 2015 by 5:00 PM (EST). Applications received after the deadline will not be accepted. Notification of awards is expected by December 31, 2015.
See the MTI calendar of events for upcoming workshops and webinars.
Grant Recipient Forms
Business Accelerator Grant Agreement (PDF)
For more information (SBIR applicants), contact Shane Beckim at 588-1018 or email firstname.lastname@example.org.
For more information (Development Loan applicants), contact Lou Simms at 207-588-1015 or email email@example.com.