Home / Explore Funding Programs / Business Innovation Funding / Business Innovation Funding Get Started

Business Innovation Funding: Get Started

Company

This field is for validation purposes and should be left unchanged.

Welcome to MTI’s Business Innovation Funding program.

Have you previously engaged with MTI about Business Innovation Funding?

I have previously received Business Innovation Funding from MTI

I haven’t received funding, but I’ve already spoken with an MTI Investment Officer about Business Innovation Funding for my business

I’ve previously submitted an interest form but haven’t spoken with an Investment Officer yet

This is my first time exploring Business Innovation Funding with MTI

Welcome back!

Since you’ve already connected with MTI about Business Innovation Funding, you can go ahead and submit a new interest form. An MTI Investment Officer will follow up with you to discuss your project.

Click here to submit an interest form

Contact Information

Business Name(Required)

Email(Required)

Contact Person(Required)

First Last

This field is hidden when viewing the form

Phone

This field is hidden when viewing the form

County

Please select your county or counties or select other if outside Maine.

Welcome! Please complete this self-assessment before connecting with an MTI Investment Officer.

This assessment will help you understand MTI’s criteria for Business Innovation Funding and prepare you for your initial conversation with our team. It should take about 10-15 minutes to complete.

Typical first-time grants range from $10,000 to $30,000, though MTI may award more in particularly compelling cases. The cumulative grant limit per company is $100,000. Loans and equity occasionally available beyond this limit.

A few important notes:

You can always talk with us, regardless of your result: Even if your results suggest you may not currently be a fit, you will still have the opportunity to connect with an MTI representative to discuss your results and next steps.
This will not be part of the funding decision: Your self-assessment results will not be held against you when being considered for funding. This assessment helps you understand our criteria, but MTI does not use them when evaluating a funding request.
This is not your application: The self-assessment is fully separate from the actual application for MTI support.

Basic Eligibility Check

To meet basic eligibility for Business Innovation Funding, you must meet ALL of the following criteria. Please select each criterion that applies to your organization. Users must select ALL of the following to fully qualify.

Does your organization meet the basic eligibility requirements?

Maine-based with leadership presence: Registered with State of Maine Bureau of Corporations (by time funding is received), maintain a regular place of business in Maine, AND have at least one living in Maine full-time as a C-suite level W2 employee, OR a principal with significant equity ownership and an active leadership role*

Organization OR innovation connected to one or more of MTI’s seven Targeted Technology Sectors

Matching funds equal to or greater than MTI funding amount requested (sweat equity accepted for smaller requests)

*Note: Planning-to-relocate: funding not awarded until substantial progress made. Maine accelerator/university participants: eligibility at MTI’s discretion. Contractors, consultants, non-executive employees do not satisfy requirement.

Great, you meet the initial criteria! Continue with the assessment to see if you’re a fit for Business Innovation Funding by clicking next.

You don’t currently meet the basic eligibility requirements for Business Innovation Funding.

Based on your selections, here’s what you’ll need to address before applying for MTI funding:

Maine-Based Organization: You must be registered with the State of Maine’s Bureau of Corporations or have plans to relocate to Maine before funding can be awarded. Maine Operations: You must be predominantly based in Maine or have plans to establish Maine operations.

Technology Sector Alignment: Your organization or innovation must connect to one or more of MTI’s seven Targeted Technology Sectors. Visit MTI’s Technology Sectors page to learn more about qualifying sectors.

Matching Funds: You must have matching funds equal to or greater than the MTI funding amount requested. For smaller requests, MTI may accept a portion of the match as sweat equity. Visit MTI’s Matching Funds Policy to learn more about matching requirements.

Next Steps:

Although you don’t currently meet the basic eligibility requirements, you can continue with the assessment to get feedback on the rest of MTI’s criteria so you understand what else MTI looks for by clicking the Next button below. If you don’t wish to continue the assessment, you can, use the navigation above to explore the MTI website.

Innovation & Value Proposition

MTI’s focus is supporting the research, development, and commercialization of innovative technologies that empower Maine businesses to scale and generate economic impact in Maine. MTI funds innovations that:

Drive scaling and significant Maine economic impact that the company could not achieve without them
Create a competitive advantage by being substantially different from existing alternatives
Have a credible path to defending that advantage against competitors over time

The innovation may originate from the company’s own work or from legitimately acquired technology (such as university research or licensed IP), provided it has not already been commercialized and the company is doing meaningful work to bring it to market. Technology that has been commercialized elsewhere may still qualify where the company is doing substantial engineering to adapt it to a materially new application or sector, beyond deploying it as-is in a new market.

The strongest fits for MTI support are innovations that involve solving meaningful scientific or technical challenges. Non-technical innovations, such as business model innovations, meet MTI’s innovation standard when the applicant demonstrates compelling evidence of defensibility and barriers to entry, validated customer demand, and significant market opportunity. Because these innovations do not have the protection that technical complexity provides, the evidence on each must be stronger.

The following are very rarely a sufficient basis for an innovation argument on their own. For them to be considered as a core basis of the innovation argument, the applicant must present a compelling and credible case that the business has a defensible competitive advantage and a clear path to scale the business and generate significant economic impact in Maine.

Off-the-shelf technology: Purchasing or deploying off-the-shelf equipment, software, or technology
AI wrapper applications: Building on existing AI models without solving technical challenges beyond prompt engineering
Combining or repackaging: Existing ingredients, components, technologies, or formulations – unless the combination required solving a genuine technical challenge that substantially differentiates the result
Incremental improvements: To existing business practices
Geographic novelty: Being the first to offer an existing product or service in a region
Creative works: Creating content, media, video games, or other creative works. Companies developing genuinely new creative technology such as a novel engine or development tool are evaluated on that technical work, not the creative output.
Relationships, location, pricing, or branding alone: Competitive advantages based solely on relationships, geographic proximity, pricing strategy, or branding

This standard reflects how MTI generally evaluates innovation, not a rigid test. MTI weighs each application as a whole and retains discretion to apply the standard with judgment in exceptional cases.

Based on the Innovation Standard described, does your innovation meet MTI's criteria?(Required)

Consider whether your innovation involves solving meaningful challenges – technical, scientific, or otherwise – that result in something substantially different from existing alternatives. Review the list of what does not meet MTI’s standard to confirm your project goes beyond those elements.

Yes

Review MTI’s Innovation Standard above to understand what qualifies. If your project falls into one of the categories that does not meet the standard, it may not be a fit for MTI funding. If your innovation is non-technical, you will need to demonstrate particularly compelling evidence of defensibility, validated customer demand, and significant market opportunity.

Will your project involve substantial work beyond purchasing, configuring, or deploying existing platforms, software, or equipment?(Required)

MTI funding is not intended for the purchase or deployment of existing platforms, software, or equipment. The exception is when deployment requires significant additional development work, such as building proprietary methods on top of existing platforms or extending technologies in ways that go beyond standard use.

Yes

Projects that primarily involve acquiring or configuring existing technology – without substantial work to develop something new – typically do not meet MTI’s innovation standard. If you believe your project involves substantial development work, be prepared to describe it specifically when speaking with an Investment Officer.

Have you started thinking about who you're competing with and what would make your approach hard for others to copy?(Required)

MTI doesn’t expect a complete competitive analysis at early stages. Applicants should be able to identify likely competitors and articulate at least initial thoughts on what would make their approach hard to copy – whether through technical know-how, patents, exclusive partnerships, deep customer relationships, or being significantly ahead in development. This becomes increasingly important as a company scales. Non-technical innovations especially need clear answers here.

Yes

Understanding your competitors and what makes your approach hard to copy becomes increasingly important as your company scales. The resources below can help with competitive research and positioning.

Helpful Resources:

Maine SBDC – Free business mentoring services
SCORE Maine – Free business mentoring services

Validation & Development

Have you talked with potential customers outside your immediate network to confirm there's real demand, or do you have early sales or signed interest?(Required)

MTI looks for evidence of customer discovery in every application, even from early-stage applicants without a prototype. This typically means real conversations with people in your target market about the problem you’re solving – including how they currently handle it, what they’ve tried, and whether they’d find your approach valuable. Conversations with potential customers, surveys, letters of intent, pilot agreements, or early sales all count.

Yes

MTI applications need evidence of customer discovery. The resources below can help if you’re getting started.

Helpful Resources:

Maine SBDC – Free business mentoring services
SCORE Maine – Free business mentoring services

Can you demonstrate your solution's feasibility through a prototype, pilot, proof of concept, or development plan?(Required)

Early MTI funding can support the creation of a prototype or minimum viable product, so a working version isn’t required yet. Applicants need a clear plan: a way to show the concept is technically viable, and a description of the work the team will do to build it – not just the tools they’ll acquire to enable that work.

Yes

MTI applications need evidence of customer discovery. The resources below can help if you’re getting started.

Helpful Resources:

UMaine Advanced Manufacturing Center
MTI MERC
TechPlace

Technical Expertise

Does your team have the technical expertise needed to develop your innovation?(Required)

This expertise can come from founders, employees, contractors, or engaged advisors. If the founders do not have technical expertise, an applicant should be able to describe how they are accessing the necessary technical competencies in other ways.

Yes

Your application will need to show how your team has access to the technical skills required for your project. The resources below can help with finding technical expertise in Maine.

Helpful Resources:

UMaine Advanced Manufacturing Center
MTI MERC
TechPlace

Does your team have the business skills needed to bring your innovation to market – including areas like sales, marketing, finance, and operations?(Required)

Gaps in business skills can be addressed through advisors or mentors.

Yes

MTI applications need to show your team has access to the business skills required to bring your innovation to market. The resources below offer mentorship and advisory support.

Business Model & Funding

Do you have a clear vision for how your business will make money and grow?(Required)

MTI doesn’t require detailed financial projections at this stage. Applicants should be able to articulate a basic business model and path to revenue.

Yes

MTI applications need a clear business model showing how your innovation becomes a sustainable business. The resources below can help with that work.

Helpful Resources:

Business Model Canvas
Maine SBDC – Free business mentoring services
SCORE Maine – Free business mentoring services

Do you have a plan for how you'll fund your business beyond MTI support?(Required)

MTI funding is meant to help applicants reach specific milestones, not sustain a business indefinitely. Funding commitments aren’t required at this stage, but applications should identify potential sources of future capital (revenue, grants, investment, loans, etc.).

Yes

Your application will need a basic funding strategy that identifies potential sources of future capital and general timing. MTI funding is meant to help applicants reach the next milestone, not sustain a business indefinitely.

Helpful Resources:

Coastal Enterprises Inc. (CEI)
Finance Authority of Maine (FAME)

Project Scope

MTI funds specific projects, not general operations. Your project should have clear goals, a defined timeline, and measurable outcomes.

What makes a strong MTI project

A focused scope. MTI-supported projects can be anywhere from a few weeks to a year and a half.
Clear connection between activities and business outcomes
Specific, measurable deliverables
A realistic budget tied to project activities
Outcomes that position you for the next stage of growth

Will the MTI funds directly support development of a new or innovative product, service, or method?(Required)

MTI funds development and commercialization activities, not general business operations or routine business expenses.

Yes

MTI funding is specifically for innovation development and commercialization activities. If your primary need is for general business operations, other funding sources may be more appropriate.

Can you describe specific things your project will accomplish, with realistic timeframes for each?(Required)

MTI funds projects with specific, measurable deliverables. Examples include completing a prototype, achieving specific technical milestones, securing pilot customers, or reaching defined market validation goals. Each deliverable should have a clear timeline and concrete way to measure success. Your MTI Investment Officer will help you determine an appropriate project.

Yes

MTI applications need specific, measurable deliverables tied to a project timeline. The resources below can help you structure your project into clear milestones.

Helpful Resources:

Maine SBDC – Free business mentoring services
SCORE Maine – Free business mentoring services

Maine Impact

Does your company have a long-term commitment to growing operations in Maine?(Required)

MTI supports businesses that are seeking to grow their presence in Maine and create additional economic impact. Quality job creation is a key metric, but MTI also considers economic impact like revenue growth, attraction of capital, development of facilities, and other postitive impacts to Maine people.

Yes

MTI prioritizes companies committed to growing in Maine. Your application will need to show how your business plans build a presence in the state. The resources below can help.

Helpful Resources:

Maine SBDC – Free business mentoring services
Maine Center for Entrepreneurs – Programs to help founders

Over the next few years, do you project that your business will create quality jobs in Maine?(Required)

An applicant to MTI should be able to articulate the business’s projections for creating quality jobs over the next few years. This doesn’t mean immediate hiring, but applicants should be able to describe how the project’s success will lead to Maine-based employment over time. “Quality jobs” typically means competitive wages and benefits.

Yes

Job creation is part of MTI’s mission. Your application will need to describe how your project’s success leads to Maine-based employment, even if hiring isn’t immediate.

Results

Good news! The answers you provided indicate that your project may be a fit for the Business Innovation Funding program. Generally speaking, first-time applicants to MTI typically start with smaller funding requests and then use their initial project success to make a stronger case for additional funding. Please note: This assessment provides an initial indication of fit, but final eligibility and funding decisions will be made by MTI Investment Officers during the application review process. If you’d like to find out more and talk with an MTI team member, please submit an interest form to get started.

Ready to take the next step?

Based on your responses, your project may be a fit for Business Innovation Funding. Submit an interest form now to connect with an MTI Investment Officer who will discuss your application.

Click here to submit an interest form

Not ready to submit yet? Click below to have a link to the interest form emailed to you for later.

See feedback on what you can do to improve your fit for Business Innovation Funding

Sorry, you may not be a good fit for Business Innovation Funding right now. Based on your answers, we’ve put together recommendations on what you’d need to do to be a better fit. If you would like to discuss your results with an MTI staff member or have questions, please submit an Interest form here.

Click Submit below to to receive a summary of all our recommendations in a printable format, which we will email to you as well.