The Maine Technology Institute (MTI) Board of Directors awarded over $137K in 12 new Seed Grants to entrepreneurs and companies across the state to advance innovations in agriculture, aquaculture, biotechnology, composite materials technologies, environmental technologies and information technology and to bring new products to market. This round of MTI awards leveraged nearly twice that much, over $235K of matching contributions from the award recipients.
A complete list of March’s awardees follows.
“To obtain Seed Grant funding, applicants have to prove their idea, compete for funding and match every dollar of MTI funding with at least one dollar’s worth of other investment,” explained Betsy Biemann, President of MTI. “This round of Seed Grants represents entrepreneurs who are developing and bringing innovative Maine products to market. In turn, MTI provides funding and works with them to help them achieve commercial success and grow good jobs for Maine people. ”
Seed Grants of up to $12,500 are offered six times a year to support early-stage research and development activities for new products and services that lead to the market. A company may be awarded a total of up to $25,000 in multiple Seed Grants for a specific technology. All projects must fall under one of Maine’s seven targeted technology sectors including advanced technologies for forestry and agriculture, aquaculture and marine technology, biotechnology, composite materials technology, environmental technology, information technology and precision manufacturing technology.
The next deadline for application is April 7, 2011. Entrepreneurs with ideas of innovative technologies are encouraged to apply.
MTI is a publicly financed, private nonprofit organization created by the Legislature to stimulate research and development activity leading to the commercialization of new products, processes and services in the state’s seven technology-intensive sectors. Programs are designed to enhance the competitive position of those sectors and increase the likelihood that one or more of the sectors will support clusters of industrial activity and create quality jobs across Maine. More about MTI at: www.mainetechnology.org.
Click Here for List of Awardees