Recently, as you’ve probably heard or read, MTI has revisited its strategic plan, and spent considerable time listening to a wide variety of entrepreneurs, innovators, partners and other stakeholders.

This process has been thorough and exhaustive. To operationalize the strategic plan, we have been working to scope out new programs and processes that will reflect the new strategic direction of the organization. In accordance with those efforts, and pending final approval of the MTI Board of Directors, we are excited to soon be launching a more fluid and flexible schedule for reviewing applications and deploying funds. Our core mission, as defined by legislative statute, will remain the same. We will continue to offer grants, loans and equity to businesses, organizations, and individuals. The changes are designed to deliver more customer-focused and tailored service to maximize our impact in Maine by promoting and supporting innovation that leads to economic prosperity and quality jobs statewide.

All funding opportunities will be accessed on rolling schedules and clear criteria for qualifying work and the expected due diligence will be announced sometime this fall. As part of this transition, in-progress applicants and clients will continue through to completion under our current system.

We look forward to working with all of you as the MTI Board and staff finalizes its processes and procedures and rolls out the new opportunities this fall.

Have a terrific Fourth of July and enjoy summer in Maine and all it has to offer.