Maine Technology Institute Awards $32,600 in Seven Grants to Maine Companies

MAINE TECHNOLOGY INSTITUTE AWARDS $32,600 IN SEVEN GRANTS TO MAINE COMPANIES

Awards support innovative technology projects in five targeted technology sectors and three counties

BRUNSWICK, MAINE – The Maine Technology Institute (MTI) approved 7 new grant applications in July 2015, totaling $32,600 in awards to entrepreneurs from across Maine to advance new product and process development in biotechnology, composite materials technology, environmental technology, information technology, and precision manufacturing technology. This round of MTI awards leveraged $59,364 of matching contributions from the award recipients.

Awards from this round include:

Seven (7) TechStart grants totaling $32,600

“These seven investments demonstrate the diversity of MTI’s portfolio and the innovative technologies, products and process improvements that are being generated in Maine,” said Brian Whitney, MTI’s President. “From pioneering advancements in the candy bar and draught beer markets to innovations in light switches and the detection of bacterial spoilage in the food and beverage industries to snowboard customization technology, Maine’s entrepreneurs are developing creative solutions and enhancements to maximize productivity and sales in established industries.”

Summary of awards:

TechStart Grants – Seven companies received TechStart Grants totaling $32,600

TechStart Grants are available to entrepreneurs and companies across Maine who are seeking to develop their inventive ideas into new, innovative products or services. Grants are awarded monthly and may be used to support specific activities such as business plan development, intellectual property filings, market analysis, or technology transfer activities out of research institutions.

The next application deadline for MTI’s TechStart Grant program is September 3rd, 2015. Applications are due by 5 PM.

For more information on MTI funding programs, please visitwww.mainetechnology.org.

MTI is a publicly financed, private, nonprofit organization created by the Legislature in 1999 to stimulate research and development activity leading to the commercialization of new products, processes and services in the state’s seven targeted technology sectors. MTI programs are either loans, equity investments, or grants designed to enhance the competitive position of those sectors and increase the likelihood that one or more of these sectors will support clusters of industrial activity and create quality jobs across Maine.