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8/4/10 - July 2010 - Maine Entrepreneurs Receive $101,599 to Develop their Technology Innovations

Maine Entrepreneurs Receive $101,599 to Develop their Technology Innovations

GARDINER, Maine – The Maine Technology Institute (MTI) Board of Directors recently approved 9 Seed Grants totaling $101,599 to companies developing products and technologies to help grow their businesses and advance Maine’s innovation economy at the same time. These grants leverage over $204,332 in private matching funds. Entrepreneurs in this latest round represent technology development in the areas of Advanced Technologies for Forestry and Agriculture, Biotechnology, Composite Materials, Precision Manufacturing, Environmental Technology and Information Technology. A complete list of July’s awardees follows.

“Every two months, MTI receives applications from entrepreneurs across the state who are developing and innovating technology to grow their companies,” explained Betsy Biemann, President of MTI. “To be able to support these exciting new ideas with funding and help them grow into successful Maine business ventures is rewarding for all involved. While some are in the early stages of their growth, these are important companies to watch.”

Seed Grants of up to $12,500 are offered on a competitive basis six times per year to support early stage research and development activities for new products and services that lead to the market. The awards require a 1:1 match of funds, staff time, equipment or other resources.

The next deadline for application to the MTI Seed Grant program is August 12, 2010. Entrepreneurs with ideas of innovative technologies are encouraged to apply!

Maine Technology Institute is a publicly financed, nonprofit organization created by Maine’s Legislature to stimulate research and development activity leading to the commercialization of new products, processes and services in the state’s seven technology-intensive sectors.

Visit www.mainetechnology.org for more information about Seed Grants and other MTI programs.

July 2010 MTI Seed Grant Awardees by Technology Sector

Advanced Technologies for Forestry and Agriculture

Swan’s Way in Camden will use their Seed Grant to conduct market research to determine the potential for distributing their private line of frozen desserts called Dolcelinos beyond Maine and to examine the affect that the potential growth might have on their manufacturing technology.

Award: $7,875 Match: $7,875

Grow-Tech, LLC in Lisbon Falls will use their Seed Grant to design, test, manufacture and install a first-of-its-kind vacuum plug-drying unit to be used in the manufacturing of their FlexiPlugs, a high-tech, hydophillic media used by growers in horticultural, forestry and hydroponics markets worldwide.

Award: $12,500 Match: $22,500

Biotechnology

Mitokine Bioscience, LLC in Hancock will use their Seed Grant to extend efficacy studies of new treatments for chronic disease using mouse models.

Award: $12,414 Match: $21,465

University of Maine in Orono will use their Seed Grant to develop a mobile biochemical analysis system to address the growing demands of health care, fitness and athletic professionals for advanced data collection and analysis equipment integraing complete biomedical information in a single all-inclusive system.

Award: $12,500 Match: $58,000

Composite Materials Technology

Callinectes Boatworks, LLC in Kennebunkport will use their Seed Grant for the development of production multi-configuration deck molds to support the flexible manufacturing of infused composite decks for their Callinectes 16 Runabout.

Award: $8,800 Match: $9,500

Falcon Performance Footwear in Lewiston will use their Seed Grant to design a composite safety toe cap production system in collaboration with UMO’s Advanced Structures and Composites Center.

Award: $10,010 Match: $10,845

Environmental Technology

Organic Alchemy Composting LLC in Portland will use their Seed Grant to develop a process that transforms organic waste to high-quality compost.

Award: $12,500 Match: $30,480

Information Technology

Chimani, LLC in Yarmouth will use their Seed Grant to develop maps for Yosemite, Grand Canyon, Cuyahoga Valley, Yellowstone and Great Smokey Mountain National Parks as part of their line of mobile apps for travel guides to National Parks.

Award: $12,500 Match: $12,500

Precision Manufacturing Technology

The Montalvo Corporation in Gorham will use their Seed Grant to support the design and demonstration of a new Universal Tension Controller.

Award: $12,500 Match: $31,167

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