MTI’s Fiscal Year Ends With Impressive Results — Heartbreakingly, Our Next One Started On A Somber Note

July 26, 2023 | President’s blog

Brian Whitney MTI President

On June 30, MTI’s fiscal year 2023 (FY23) ended and the preliminary data on our funding and impact was momentous.

In our core funding program, MTI made 122 awards totaling $7,638,940.  The organizations receiving those awards matched MTI’s funding with $42,866,883!

In addition to our core funding, MTI was asked to help allocate millions more associated with the Maine Jobs & Recovery Plan (MJRP).  The MJRP was funded by the federal American Rescue Plan Act (ARPA).

Utilizing the MJRP/ARPA funding, in August 2022, we announced 174 awards totaling $23.3 million in our Pandemic Recovery for an Innovative Maine Economy (PRIME) program.  In December 2022, we announced $14 million in Forestry Recovery Initiative II (FRI-2) awards to 19 companies.

Also in December 2022, we announced $5 million in funding through our PRIME Ecosystem program to 16 Maine entrepreneurial support organizations.  The PRIME Ecosystem program was also the result of the MJRP/ARPA programs.

In total, MTI deployed approximately $50 million in state and federal funding to more than 330 organizations across Maine in FY23.  An amazing amount of output for our small team.  Kudos to MTI’s staff, contractors, volunteer subject matter experts, and Board of Directors for all their efforts!

And, as thrilled as we were with the amazing FY23 results, those feelings were fleeting as we learned just days into the new fiscal year that a dear friend and colleague, John Pavan, had passed away unexpectedly.  John was well-known in Maine’s innovation ecosystem.

After a successful career in commercial real estate development, John utilized his c-suite and entrepreneurial skillset to assist many Maine startups as a SCORE counselor and Top Gun mentor, and as an Entrepreneur-in-Residence at MTI from 2017 until 2023.  In that latter role, he successfully guided and advised many startup founders within MTI’s portfolio, helping them to achieve successful project and company outcomes.  In February of this year, Governor Janet Mills appointed John to the MTI Board of Directors and, not surprisingly, he was already having a positive impact on the organization given his direct knowledge of MTI and of the companies that have sought and/or received MTI funding and assistance.

John’s passing dealt the MTI team and broader ecosystem a devastating blow.  He clearly left an undeniable and indelible impact on us all. You can find some reflections from MTI staff about John and his lasting legacy in our July eNewsletter.

At this most difficult time, our thoughts are especially with John’s two daughters, Kendall and Tracey, and their families; his partner Gena Canning and her family; and John’s brothers, Ed, Bill, and Joe, and sister, Christine, and their families.

Rest in peace, John.