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MTI Blog

11/2/10 - Bold Investments

In November 2007 and again in June 2010, Maine committed to make a bold investment in our entrepreneurs, researchers and in the talents and ingenuity of our workforce. By voting to approve state-bonded funds for technology investment, Maine voters enabled MTI to invest in cutting-edge technology development in some of Maine's most entrepreneurial companies and research organizations through the Maine Technology Asset Fund. In the first two rounds of MTAF, MTI awarded $45.6 million of MTAF funding to 25 projects now currently under way. MTAF awards under contract have already leveraged more than $69 million in matching funds with increasing investments flowing as the projects advance.

On October 14, we were proud to announce the MTI Board of Directors' approval of an additional $7.25 million of Maine Technology Asset Fund awards to 10 organizations across Maine. The awards will be matched by over $13 million in additional funding for the projects.This third round of MTAF awards cover projects located from Auburn to Fort Fairfield and Portland to Eastport in Maine's seven targeted technology sectors. See the full list of awardees.

These MTAF awards will help Maine to continue to develop technologies that build on Maine strengths such as aquaculture and agriculture as well as emerging clusters such as renewable energy, high performance computing, composites and precision manufacturing and biotechnology.

We were extremely impressed with the breadth and competitiveness of the applicant pool overall. We congratulate the award recipients and look forward to their progress and results!

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