Last week, the Maine Technology Institute (MTI) issued a solicitation seeking proposals for our $2 million Maine Technology Asset Fund 2.5 (MTAF2.5) program. The MTAF2.5 program provides funding to Maine organizations looking to make investments in R&D equipment, infrastructure and technology upgrades to drive innovation and generate economic impact in Maine. MTI is capping individual funding requests at $500,000 or less.
MTI is seeking proposals that will provide extraordinary economic benefits to Maine and its citizens. We look forward to receiving, reviewing and assessing the proposals and, ultimately, working with Maine’s public and private sector entities to bring about the kind of economic stimulus and employment opportunities for Mainers that lawmakers and the public envisioned when approving this bond.
Potential applicants should demonstrate how the bond funding will complement their own matching investments to the greatest possible extent and for the greatest possible economic impact, as well as why their company or project falls within the research, development and commercialization continuum. Applicants will participate in a competitive process and, utilizing a 10-slide pitch deck, will need to show how the grant funding will help them gain and hold market share, increase revenues, and grow or preserve jobs for Maine people. After reviewing and evaluating the proposals, and soliciting additional diligence materials from finalists, MTI will make funding awards and will require that the state dollars are matched with at least an equivalent amount of federal or private funding.
MTI will accept electronic funding requests from February 18, 2020 until March 27, 2020. Here are links to the MTAF2.5 RFP and guidelines:
So, if you have an eligible MTAF2.5 project and are willing to match MTI’s potential investment with at least as much money from your own organization, please plan to submit your 10-slide pitch deck to us prior to March 27. We look forward to receiving your proposals.