Since 1999, MTI has funded innovative technologies across Maine to help accelerate commercial success in Maine’s seven technology sectors: biotechnology, composites and advanced materials, environmental technologies, forest and agriculture products, information technology, marine technology and aquaculture and precision manufacturing. MTI’s FUND programs are highly competitive and require at least one dollar in matching funding for every dollar awarded. Applications are judged on the basis of the quality of the technology, the prospects for successful commercialization, and the resulting potential to boost Maine’s innovation economy.
From FY99 –FY11, 1,552 projects were funded across all seven technology sectors. Over $126 million has been awarded, leveraging co-investment of nearly $216 million.
For every $1.00 of MTI funds an additional $14.27 in non-MTI funding is leveraged
MTI-funded Companies surveyed (Awards ending July 1, 2006 -June 20, 2008) report that:
- 4 out of 5 experience stable or growing employment from year to year
- Overall revenue grew by 6.5% for companies closing MTI grants
- MTI-funded companies support their local economies with purchases of supplies (35%) and services (45%) from other Maine companies
Excerpts from Evaluation of Maine Technology Institute Programs for Awards Ending July 1, 2006-June 30, 2008
- MTI continues to succeed in fulfilling its mission to catalyze research and development activities leading to commercially available products. Over 2007-2008, $7.1 million in MTI grants leveraged over $117 million in other public and private funds for research and product development, or $14.27 for every $1.00 in MTI funding.
- MTI-funded projects have had a high rate of success. The growth in research projects resulting in new commercial projects has slowed somewhat in 2007-2008 compared with 2002-2006 reflecting a smaller number of closed grants in the last two years.
- The number of new products resulting from MTI research that are on sale at the time of the survey has been at a consistently high level over the last three years.
- MTI research projects continue to generate a high level of successful efforts to secure intellectual property protection in the form of patents, trademarks, and registered trade secrets.
- MTI grants closing in 2007-2008 went to recipients in fourteen counties. Cumberland County was the largest recipient of grants in both numbers and in amounts per capita, although Waldo County also showed a higher proportion of MTI grant dollars per capita.