MTI’s programs help innovators accelerate progress to the market, leverage additional private and public investment, and ultimately, expand their economic impact in Maine. Since its founding in 1999, MTI has invested over $372M+ in nearly 4,000+ distinct projects across Maine’s 16 counties. MTI funding has simultaneously generated over $2.2 Billion + in private sector matching investment. These investments have resulted in new jobs, new technologies, expanded Maine’s economy, and accelerated business growth.
Read more about MTI’s impact in our FY24 Annual Report.
In FY24, MTI made 238 awards totaling $7.64 million. The organizations receiving those awards matched MTI’s funding with $24.9 million.
Total Dollars Awarded/Matched by Year
The State of Maine has targeted seven technology sectors best suited for investment and other forms of support. These include both mature industries (like forestry and agriculture) as well as emerging ones (such as composite materials and biotechnology). In FY24, MTI invested in businesses within all seven
of these targeted sectors, helping to create a more vibrant and diversified economy.
2024 Awards by Technology Sector
Because MTI invests in businesses of varying maturity, and because we individualize our approach and investment to the clients needs, we distribute our levels of funding across four ranges. Generally, we fund a greater number of projects at a lower level, then dedicate larger levels of investment to a smaller number of projects that will have a greater impact.
2024 Awards by Range
