As tech businesses shrink, Tyler Technologies says it will keep growing in Maine

(From Tyler Technologies recently broke ground on a new office building in Orono. MTI's President, Brian Whitney stated, "The Orono location gives the company exposure to UMaine students and a potential pool of new employees. Tyler already runs educational programs such as an app development competition in Maine middle and high schools. Tyler is definitely a shining star” among the state’s technology companies. Read more »

Dutch company harvests first batch of yellowtail kingfish

(From Mainebiz) Kingfish Co. is making preparations to build a recirculating aquaculture system facility in Jonesport this year. The facility expects to create 70 full-time jobs at the site once it becomes operational. MTI provided the company with early-stage support for facility development. Read more »

Prapela receives NIH Grant to improve the treatment of Apnea of Prematurity in collaboration with Tufts Medical Center and the University of Alabama at Birmingham

(From PR Newswire) Prapela, Inc., was recently awarded a grant through the National Institutes of Health (NIH) Blueprint MedTech program and National Institute on Drug Abuse (NIDA), to support the development and evaluation of Prapela's pad to treat apnea in preterm newborns in collaboration with neonatologists at Tufts Medical Center and the University of Alabama at Birmingham. The grant is expected to provide $3.5M over 3 years. MTI awarded funding to the Biddeford-based startup to help support its breakthrough medical device. Read more »

Maine farms are growing fish and vegetables under the same roof

(From Bangor Daily News) Springworks Farm uses aquaponics to produce around 2 million heads of organic lettuce annually and up to 200,000 pounds of tilapia. Aquaponics is a hybrid of hydroponics and aquaculture. The company plans to break ground on its fourth greenhouse and make 40 additional hires once it's completed. MTI has provided funding and support to the Lisbon-based business. Read more »

An Update on Vertical Harvest

(From Portland Food Map) MTI portfolio company, Vertical Harvest, plans to hire a team of 40–50 employees to operate its greenhouse. Nearly half of those positions will be filled by people with intellectual and physical disabilities. The company aims to reduce barriers to meaningful work and offer opportunities for economic independence. The 70,000 square foot urban greenhouse will begin its first harvest next year. Read more »

VETRO raises $7M in growth capital

(From Maine Startups Insider) Portland-based company, VETRO, recently raised $7M to help accelerate product innovation and global expansion. MTI was an early investor in the developer of cloud-based fiber management software for the telecommunications industry. Read more »