Big News This Fall: MTAF 3.0 Launching Soon + Upcoming MTI Events

I hope you are all enjoying these beautiful early September days.  We took an August holiday from our eNews last month so have plenty to share as we gear up for a busy and exciting fall.

We are ramping up for the launch of the Maine Technology Asset Fund 3.0 (MTAF 3.0), funded by the $25 million research and development bond. We know many of you are eagerly awaiting our launch of this program and want to provide a high-level update.

We anticipate the application portal will open by October 1, 2025 (hopefully sooner), and we will send a dedicated email when the program is launched and the portal is open. MTAF 3.0 will provide grant and loan funding to support capital asset projects – – bricks and mortar, renovations, land purchase, equipment and machinery purchases, and certain technology upgrades – – at organizations that are engaged in innovation in one of the State’s seven targeted technology sectors. 

Once launched, we anticipate the application portal will remain open for 4-6 weeks.  We will host several informational webinars about the application process and the program generally.  We highly recommend attending one of the webinar sessions. They will provide applicants with an opportunity to ask questions and understand details of the program.  

Broadly speaking, any entity based in Maine, or with the intention of having a Maine-based footprint, can apply. Entities meeting the criteria outlined in the application can apply for up to $2.5 million in funding.  For for-profit entities, the funding will be structured as an interest-free, potentially partially forgivable, loan. Up to 50% of a loan may be forgiven if the applicant’s stated impact goals are achieved (job and revenue targets, etc.). A minimum match of 1:1 will be required.  For non-profits, the funding will be structured as a grant but will also require a minimum funding match of 1:1.  More information and a detailed timeline is forthcoming.

While we do not want to wish away these waning days of sunshine and warmth, we do want to share some fall and winter related news.  Please save November 13, 2025 for a fall MTI and Startup Maine networking event to be held in Rockport at Pascal Hall in the early evening.  This event will feature MTI portfolio companies as well as networking, food, and drinks.  If you’re one of our portfolio companies located in Knox County, stay tuned for information regarding an opportunity to exhibit. Lastly, this year MTI will create a holiday gift guide – be on the lookout to submit your product as part of our 2025 gift guide. 

I wish you all the very best for the remainder of September and the beautiful weather it always brings!

Mejor,

Brian