Maine Technology Institute Awards $92,414 to Four Maine Companies

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

(BRUNSWICK, MAINE) – The Maine Technology Institute (MTI) approved 4 new award applications in September 2015, totaling $92,414 in awards to companies from across Maine to advance new product and process development in Aquaculture and Marine Technologies, Composite Material Technologies, and Environmental Technologies. biotechnology and advanced technologies for forestry and agriculture.  This round of MTI awards leveraged $910,658 of matching contributions from the award recipients.

Awards from this round include:

• Three (3) Business Accelerator Grants totaling $87,952
• One (1) Phase 0 Kickstarter grant of $4,462

“As part of our statutory mandate to fund precursors to commercialization of innovative new products and services, and to provide technical assistance to Maine small businesses to develop competitive federal funding proposals, the Maine Technology Institute (MTI) is pleased to make these foundational investments,” said Brian Whitney, MTI’s President.

Summary of awards:

Business Accelerator Grants – Three companies received Business Accelerator Grants totaling $87,952

Acadia Harvest                                                                                            Award Amount:  $49,975

Brunswick                                                                                                      Match Amount:  $657,685

Joseph Associates, Inc.                                                                              Award Amount:  $22,977

Farmingdale                                                                                                 Match Amount:  $22,977

Revolution Research, Inc                                                                          Award Amount:  $15,000

Orono                                                                                                           Match Amount:  $224,996

Business Accelerator Grants are available to start-up/early stage companies that have been awarded MTI Development Loans (DLs) and to companies that have recently been chosen for a federal Small Business Innovation Research /Small Business Technology Transfer (SBIR/STTR) Phase I or Phase II grant, Broad Agency Announcement (BAA) award, or other qualifying federal R&D program award. Funds are to be used to advance the new technology to market and to firmly establish or increase the scope and sustainability of the business enterprise. The grant is intended to increase the competitiveness of the company by providing funds directed at product/service commercialization, business and management team development, and company organization. The next application deadline for MTI’s TechStart and Business Accelerator Grant programs is October 6, 2015. Applications are due by 5 pm.

Phase 0 Kickstarter Grants – One company awarded $4,462

American Unagi, LLC                                                                                   Award Amount:  $4,462

Thomaston                                                                                                    Match Amount:  $5,000

The Phase 0 KickStarter is a funding opportunity offered to individuals and companies seeking to submit SBIR/STTR Phase I Proposals to one of the 11 federal agencies participating in the program or proposals to other qualified federal R&D programs. Awards of up to $5,000 are offered to foster and support competitive federal proposal submissions from Maine applicants. Funds can be used for external direct costs associated with preparing an SBIR/STTR or other qualified program proposal, such as hiring grant writers, subject matter experts, other consultants or purchasing market research reports needed to inform your proposal. Phase 0 KickStarter applications are accepted at MTI on a rolling basis at least 30 days in advance of federal solicitation due date.

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.