Brunswick, ME – The Maine Technology Institute (MTI) today announced its new Phase 0 KickStarter program to help Maine companies prepare applications for Small Business Innovation Research/Small Business Technology Transfer (SBIR/STTR) grants from federal agencies and through Broad Agency Announcements (BAA). Eleven federal agencies offer SBIR/STTR grants. Under this program, nearly $2.5 billion is awarded annually to small businesses developing innovative products, processes and services.
SBIR/STTR grants are specifically targeted to small businesses to develop innovative commercial technologies. A key feature of these programs allows companies to retain ownership of intellectual property. Similarly, the BAA program enables small-to-medium size businesses to develop unique technologies in response to specific federal agency needs. “These programs offer substantial benefits to small businesses, and it is important for companies to bring more federal grant dollars into Maine,” said Bob Martin, MTI President.
The new MTI Phase 0 KickStarter provides a $5,000 grant that may be used in conjunction with MTI’s Technical Assistance Program (TAP) services team. The TAP team works with companies to help prepare compelling federal grant applications. “The SBIR/STTR program is very competitive,” said Karen West, MTI’s lead TAP consultant. “The Phase 0 KickStarter provides funding for resources that are needed to prepare competitive applications,” she said. Since the inception of the SBIR/STTR program, 83 Maine companies have been awarded more than $72 million in grants. According to West, “MTI’s goal with the new program is to bring more federal research and development dollars into Maine by getting more companies to apply for federal R&D grants.”
The SBIR/STTR program has two primary phases. In Phase I, applicants can win up to $150,000 for innovative technology projects lasting up to six months. Phase I awardees can apply for Phase II grants of up to $1 million with a two-year project duration. SBIR/STTR grant funds may be used for specific purposes related to the research and development of the technology. Although a commercialization plan is a requirement of SBIR/STTR program awards, these Federal funds cannot be used for business development activities. To fill this critical gap, businesses may apply to MTI for Business Accelerator Grants, a separate program available to SBIR/STTR and BAA Grant recipients. The Business Accelerator Grants provide funds to companies that have won Phase I and Phase II SBIR/STTR or BAA grants to engage in activities necessary to take their products to market. According to West, “The federal government wants to encourage research and development of innovative technologies through the SBIR/STTR program, and it does that very effectively. However, without funding for commercialization activities to support the technology, it is difficult for companies to get their products to market. MTI’s Business Accelerator Grants fill that gap and enable companies to take their product to market.”
Martin emphasized the need for this program saying, “More Maine companies should be pursuing SBIR/STTR grants and BAA awards. MTI is here to help those ready to take advantage of these programs with money and professional services. Companies with MTI’s support have a good track record of winning these awards.” According to Martin, “we believe there are more companies in Maine with the potential to win SBIR/STTR grants and BAA awards, and we want to help them do it.”
The Maine Technology Institute is a publicly-funded, not-for-profit, independent venture fund whose mission is to identify and invest in entrepreneurs and companies in Maine who engage innovative technologies. In 2012, two Maine companies that won SBIR Phase II awards, Ocean Renewable Power Company (Eastport) and Orono Spectral Solutions (Orono) were also selected for the prestigious Tibbetts Award. The Tibbetts award is issued by the U.S. Small Business Administration for uniquely innovative technologies. For more information please visit www.mainetechnology.org.