MTI Funding FAQs

Maine Technology Institute (commonly referred to as MTI) is a nonprofit that supports Maine’s innovation economy. Founded and funded in 1999 by the Maine State Legislature, MTI offers grants, loans, equity investments, and services to businesses and organizations across the state.

MTI has four programs that it runs continuously: Financiación de la innovación empresarial, the Maine Entrepreneurial Resource Corps, Patrocinio de eventos, y Asistencia de fondos federales. MTI also occasionally runs other programs or competitions to support specific initiatives.

MTI’s four core programs do not have deadlines to apply – applicants may apply at any time.

For Business Innovation Funding, the first step is to complete the Startup Questionnaire. For Federal Funding Assistance, start with the assessment on that program’s page. For other programs, submit an Interest Form directly from the program page.

MTI is bound by its governing legal statute that emphasizes confidentiality in all its dealings with clients. MTI staff, technology reviewers, and board members all sign confidentiality agreements and conflict of interest policies. MTI staff do not sign individual NDAs, but if businesses have concerns beyond the scope of the protections offered in our existing documents, they may reach out to MTI to explore additional options.

MTI has a guidance document with instructions and troubleshooting for using our online portal. Please review this guidance document if you are encountering any issues. If you are still unable to resolve the issue, please reach out to MTI at [email protected].

MTI funds innovations that drive scaling and significant economic impact in Maine, create a competitive advantage by being substantially different from existing alternatives, and have a credible path to defending that advantage over time. MTI has published a detailed innovation standard on the Eligibility Requirements page.

MTI’s primary focus is technical and scientific innovation, but the innovation does not have to be a technology product. A company developing a new manufacturing process, a novel aquaculture method, or an innovative approach to forest products harvesting could all qualify. Innovation can also be internal to the company rather than customer-facing.

MTI funds projects that develop, commercialize, and scale innovative products, services, and processes. Common activities include R&D, prototyping, IP protection, commercialization, regulatory work, and hiring key team members.

Most BIF awards are grants, typically starting between $10,000 and $30,000 for first-time applicants. Cumulative grant funding can reach $100,000 per company as the business progresses.

MTI limits cumulative Business Innovation Funding grants to $100,000 per enterprise. An enterprise is generally defined as an individual business, organization, or leadership team. Loans and equity are separate instruments and do not count toward the grant cap. Funding from other MTI programs such as Mercosur also does not count toward the BIF grant cap.

Yes. For companies with a track record of growth and the financial position to support repayable funding, MTI may offer loans or equity investments. Most BIF applicants apply for grants. For more detail, visit the Loans and Equity Investments page.

BIF is designed to support scalable businesses that will create jobs and generate economic growth in Maine. Most nonprofits do not meet the program’s requirements. In limited cases, a nonprofit developing a genuinely innovative product, process, or technology with commercial potential may be eligible. Nonprofits whose projects focus on supporting Maine’s broader innovation ecosystem may be a better fit for MTI’s Innovation Ecosystem Development program o Event Sponsorship program.

The company must maintain a regular place of business in Maine and have at least one C-suite level W2 employee, or a principal or founder with significant equity ownership and an active leadership role, living in Maine full-time. Contractors, consultants, and non-executive employees do not satisfy the leadership requirement.

MTI requires a matching investment equal to or greater than the amount of funding requested. Cash match is weighted most heavily. The required proportion of cash match increases with cumulative funding level: at least 50% cash for funding up to $15K, 70% for $15K-$30K, 80% for $30K-$60K, and 100% cash for $60K-$100K. In some cases, MTI will consider sweat equity or in-kind contributions for the non-cash portion. Sweat equity rates are capped at $50/hr for principals and $30/hr for others.

Yes. Many MTI clients receive multiple rounds of funding over time. Each subsequent request is evaluated based on the company’s cumulative funding tier. MTI also considers your performance on prior awards as part of the review.

Jobs that offer competitive wages and benefits relative to the regional economy. What constitutes a quality job varies by sector and geography.

MTI may approve a funding request with conditions that must be met before funding is fully released. MTI may also approve an award with tranched payments, with disbursements based on the achievement of milestones. Your MTI team member will explain any conditions and work with you to meet them.

Your MTI team member will explain the reasons and provide feedback. In some cases, you may be able to reapply after addressing specific factors. MTI may also refer you to other programs or partners.

Typically around 2 months, depending on the amount of funding requested and complexity.

MTI will not reimburse project costs incurred before an applicant has contacted MTI and begun the application process. Once you are in the process, speak with your Investment Officer to ensure expenditures fall within the eligible timeline.

Not necessarily. For funding up to $30,000, a working prototype is not required. At higher funding levels, MTI generally expects to see a working prototype or proof of concept.

Businesses with plans to establish a presence in Maine may apply, but funding will not be released until substantial progress has been made in securing a Maine location.

MTI’s seven sectors are broad: Biotechnology, Composites & Advanced Materials, Environmental Technologies, Forest Products & Agriculture, Information Technology, Marine Technology & Aquaculture, and Precision Manufacturing. Your business doesn’t need to be a “tech company” in the conventional sense.

Yes. A company that is already profitable may still qualify for BIF if it is developing a new innovation that meets MTI’s standard.

Yes. Hiring key team members is a common use of MTI funding, particularly when the hire is essential to advancing the innovation.

For larger funding requests, MTI may engage external reviewers with relevant expertise. The process is confidential.

MERC connects eligible Maine businesses with vetted, Maine-based consultants for short-term projects. MTI covers 50% of the project fee, up to $15,000 per year or $30,000 over the lifetime of a business’s participation.

BIF provides direct funding for companies to develop their own innovations. MERC subsidizes consulting services. Companies can participate in both – MERC funding does not count toward the BIF cumulative grant cap.

MTI maintains a database of vetted, Maine-based consultants. If you’d like to work with a consultant who isn’t in the database, they can apply to be onboarded and approved.

MERC eligibility requires a connection to one of MTI’s seven technology sectors and an innovation, similar to BIF. However, MERC is designed for businesses that need consulting support to address specific challenges, not necessarily companies at the same stage as BIF applicants. Your business must also be under $5 million in annual revenue. If you’re unsure whether you qualify, submit an interest form and the MERC coordinator can help assess your fit.

MTI offers free, self-paced AI training to Maine businesses through a partnership with Coursera. This is separate from MERC’s consulting services and gives you access to Coursera’s full Generative AI course catalog, plus a learning path curated by MTI for Maine’s small businesses.

Federal programs that fund high-risk, early-stage R&D of innovative technologies. MTI serves as Maine’s official SBIR/STTR support organization.

No. TAP services are free to eligible Maine businesses.

BIF is MTI’s own funding. SBIR/STTR is federal funding that MTI helps you apply for.

Yes. They are separate programs. SBIR/STTR awards can sometimes be used as matching funds for a BIF application.

Events that support Maine’s innovation economy. Typical awards range from $1,000 to $5,000. In some cases, MTI may make a larger award for events with significant reach or impact.

The vast majority of events MTI sponsors are held in Maine. Out-of-state events would need to demonstrate a direct and clear benefit to Maine’s innovation economy.

Any organization can apply, as long as the event meets one of the sponsorship goals.

A competitive grant program for organizations seeking to build programs that support innovation and entrepreneurship in Maine’s technology sectors. Awards require 1:1 matching co-investment.

The IEDP is not currently accepting applications. The next round is expected to open in early fall 2026. Contact Tom Kittredge at [email protected] for more information.

Yes. MTI’s programs are designed to complement each other. SBIR/STTR awards can also be used as matching funds for a BIF application. MERC and SBIR/STTR support do not count toward the BIF cumulative grant cap.

Submit an interest form and an MTI team member will follow up to discuss your situation. Even if you’re not a fit for MTI right now, we can often point you toward other organizations and resources that may be able to help.