This program is expected to launch soon
As part of the Maine Jobs and Recovery Plan (MJRP), the Maine State Legislature allocated $39.6M of the $1B federal grant for MTI to administer to support innovation in the state, as well as long-term recovery and sustainable economic growth. The MTI PRIME Fund (Pandemic Recovery for an Innovative Maine Economy) will deploy $25M in the first year and $14M in the second year. PRIME funding is designed for companies that are connected to one of Maine’s seven targeted technology sectors. Awards will be based on a competitive process and must be matched by the company on a 1:1 basis. Federal guidelines require funds be targeted to those companies adversely impacted by the pandemic.
MTI has years of experience successfully administering funds using a variety of investment vehicles and is currently developing inclusive, diverse and impactful programs to bolster and advance Maine’s innovation economy.
Stay tuned for more details!