Summer Reflections: Closing the Books on a Strong Fiscal Year

Greetings!  I hope you all had a pleasant Semiquincentennial holiday weekend and managed the heat and humidity.   After a slow start and a cold spring, as our friends from Glidden Point Oyster tell us in their update, “the water has turned that nutrient-rich summer emerald, seed is growing in the upwellers, and shells are sharp with feathery new edges.” Lobsters are coming in to shed, the hallmark colorful buoys appearing closer and closer to shore and our local wild blueberries are just about ready for harvest.  All indicators our long-awaited summer has arrived.

Now that June has passed, MTI has closed the book on fiscal year 2026 (Which ended June 30).

As a result, we have some preliminary numbers that summarize our award activity over the past 12 months. Here’s a brief snapshot:

• 25M in Maine Technology Asset Fund 3.0 (MTAF 3) Awards
  • 23 Awards
  • $718M in Private Sector Matching Funds
  • 1,233 New Jobs Created, 2,700 Jobs Retained
• $7.93M in MTI Core Funding
  • 143 Awards
  • $17.25M in Private Sector Matching Funds
• $2.3M Maine Life Science Incubator Award
• $3.85M Strategic Redirect of Unused American Rescue Plan Act (ARPA) Funds (Awards made to MaineHealth, University of New England, and the Roux Institute

That totals just over $39M in funding awards in the fiscal year. The MTI funding was matched with over $741 million in private sector investment (A 19:1 private-public funding ratio).   Another amazing year that demonstrates MTI’s outsized impact on Maine’s economy.    

Lastly, we invite you to join us Thursday, July 16, from 8:00 AM–3:00 PM for the 2026 Federal Funding Summit at Greene Block + Studios in Waterville. This Summit provides an outstanding opportunity to connect with federal agency representatives from the National Science Foundation, Department of War – Navy, DARPA Connect, U. S. Department of Agriculture, Department of Energy, funding experts, and members of Maine’s innovation ecosystem to learn how SBIR/STTR programs can support your innovative R&D and commercialization goals. This event is free to attend and includes breakfast pastries and a light lunch. Space is limited, however, so reserve your spot today. 

Enjoy this fleeting Maine summer!  Next month we’ll take a break from our newsletter, but we’ll be back to you in September with all the news and information about our fall networking event in the Bangor region.  Until then, be well.

-BW