Business Innovation Funding

Supporting Innovations That Grow and Diversify Maine’s Economy  

Business Innovation Funding offers grants, loans, and equity investments to businesses and organizations to bolster Maine’s innovation economy. We support the development and growth of new products, devices, or methods with the potential to spur economic growth in Maine. The MTI team has experience in evaluating the founding, scaling, and growth of high-potential ventures. 

Criteria for Application

Your organization or project must meet the following criteria to be eligible for Business Innovation Funding.

  • Must be a Maine-Based Business
  • Fits in One or More of MTI’s Seven Targeted Technology Sectors
  • Innovative Product, Device, or Method
  • Clear Potential to Drive Economic Impact in Maine
  • Able to Provide Validation of Concept through Market Research and Customer Discovery
  • Access to Minimum 1-1 Matching Funds

Explore Each Funding Criteria to See if You’re a Good Fit

Goals and Purpose of the Forestry Recovery

Interested in Business Innovation Funding?

Take the first step by filling out our online interest form.
An MTI representative will reach out to schedule a meeting. 

Funding Structure 

The larger the funding request, the more thorough the due diligence or review required – which can include a financial review, business systems review, and/or technology review.

Types of Funding

Grants, Loans, or Equity

Typical Funding Amount 

Ranges from $10,000 to $250,000, depending on eligibility. 

Read more about the evaluation process

Application Process

  • Step 1: Fill out the online interest form.
  • Step 2: Connect with an MTI team member.
  • Step 3: Apply at your convenience.
  • Step 4: Application review. 
  • Step 5: Decision. 
  • Step 6: Ongoing reporting.

Learn more about each step in the process 

Get Started on the Funding Process

Take the first step by filling out our online interest form.