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Business Ventures

The Business Ventures group manages funds directed toward investments in innovative companies and research institutions that are developing products and process that have commercial potential. 

Our focus on Maine is first and foremost.  We invite opportunities with companies that will locate operations or R&D to Maine as part of the group’s focus.   Investments are directed into existing companies, entrepreneurs and research institutions that can demonstrate a reasonable probability of growth and a positive economic impact to Maine by developing their research and ideas to commercial applications and growth.  

Our Grants, Loans and Equity investments establish timelines and milestones to achieve outcomes.  We also provide intensive assistance to help secure the next stages of funding through traditional means, angel investors or other sources in the R&D stages such as the national Small Business Innovation Research (SBIR) program.  The Business Ventures staff may engage directly and use our networks to apply resources and experience to grow and connect entrepreneurs, companies and institutions that engage technology to develop innovative products and profitable enterprises. 

The majority of activity is conducted through our flagship model, the Business Innovation Program.  Opportunities outside this model that stand up under due diligence and can demonstrate an ability to meet the mission of the Group may be considered.

Business Innovation Program

MTI's Business Innovation Program accelerates technology-based Maine businesses along their development cycle of bringing new products to market while simultaneously accelerating their capacity for profitability and growth. The goal is to create greater access to coaching and capital for growing businesses from Maine’s traditional industries such as precision manufacturing, forestry and agriculture as well as emerging industries such as biotechnology and information technology.

While continuing to require a 1:1 match for funding and to participate in a competitive application process, the Business Innovation Program offers:

a.     TechStart Grant for up to $5,000 which will be awarded on a monthly basis - for concept planning, market research and tech transfer exploration

b.     Seed Grant that will make grants of up to $25,000 will now be available every four months for early-stage R&D activity

c.     Development Loan that will lend up to $500,000 as a conditional loan for later stage R&D activity

d.     Business Accelerator Grant for activities that will increase a company’s chance of success such as business planning, strengthening financial management capacity, developing strategies  to secure key customers, strategic partners and investors and entrepreneurship training for management. Eligible Maine companies will be those that have received federal Small Business Innovation Research grants and first-time entrepreneurs who win an MTI Development Loan

e.     Equity Capital that makes investments up to $200,000 available to selected MTI companies who need to achieve specific milestones to secure follow-on private investment

Please reference this document for maximum pro-bono personnel rates allowable for MTI's 1:1 match.

 

 

Business Innovation Program Workshops and Webinars:

Workshops:
(All workshops are from 10:00 AM to 2:30 PM)
 

Maine Technology Institute announces statewide workshops for Maine Companies.

These statewide workshops will give an overview of the Business Innovation Program and the funding options available.  The main focus will be to inroduce companies to the federal funding program under SBIR/STTR (Small Business Innovation Research/Small Business Technology Transfer).  Assistance is available through MTI to apply for funding to federal agency RFAs.  In addition, University of Maine personnel will be there to talk about the Innovation Engineering Program and other resources available through the University.

Train the Trainer Webinar Presentation - (PDF)

Read more about MTI's first decade of investing in Maine's innovation economy here.

Read about some of the many MTI award-recipient success stories here.