Mainers Resilient and Unified in the Face of Adversity

Good afternoon. 

It’s obviously a disquieting and uncertain time.  So much has changed in our state and nation over the past two weeks. Yet, Maine, its people, and its businesses have always been resilient and unified in the face of adversity. We know we will continue to embody those characteristics as we face this challenge in the days and weeks ahead.

While, like most enterprises, MTI’s physical presence is closed, our team is efficiently and effectively conducting their work remotely.  For any clients needing guidance or assistance, please reach out to your individual Investment Officer, who will work with you to help address your needs. We continue to fund innovative projects throughout Maine and encourage you to file a client intake if interested in MTI funding or assistance.  All general inquiries can be submitted through our online contact form, which will continue to be regularly monitored throughout our remote working process. We will respond to messages as quickly as possible.

Beyond the serious health impact of this emergency, there are economic and business implications as well. During this time, the state and federal government is working expeditiously to marshal resources to help. For more details, we encourage you to visit the Maine Department of Economic & Community Development’s homepage, where you can find additional helpful links such as the SBA’s economic injury disaster loan.

Last week, MTI created a COVID-19 landing page on our website that includes helpful state and federal resource links and guidance to our portfolio companies and partners.  We also distributed the guidance and resource links through our social media channels.  Our website continues to be updated as needed and appropriate

During this otherwise challenging time, some uplifting and encouraging stories are emerging.  We received word from Devin McNeil, the Co-founder of Flowfold, a manufacturer of high-quality travel and everyday gear, that the company recently pivoted its business to supply hospitals with personal protective equipment (PPE) in response to the global COVID-19 pandemic. McNeil expressed his appreciation for MTI’s past assistance and noted our investment in the company allowed them to quickly retool their manufacturing facility to make personal protective equipment for first responders.

Flowfold is a great example of a success story borne out of Maine’s innovation ecosystem.  Benefiting from SCORE mentoring and participation in the Maine Center for Entrepreneur’s Top Gun business accelerator program, Flowfold has continued to innovate. We are all so inspired by the company’s continued growth and, in particular, its critical work during this pandemic, not to mention last year’s collaboration with LL Bean that led to a new and reimagined version of the classic Bean boot.  It’s an amazing company and MTI is proud to have played a small role in their success.

My best wishes to you, your families, your businesses, and your employees for enduring health and safety during this challenging and uncertain time. MTI will continue to work throughout this period to provide much-needed resources, support and assistance to Maine’s entrepreneurial community.  Thank you.