MTI plays a key part in the State’s economic development strategy and is a significant driver in expanding research and development to creating new innovative ventures. Since its founding, MTI has distributed nearly $260 million via a variety of programs to more than 2,300 projects throughout the State of Maine. The Maine Technology Asset Fund (MTAF) program, funded by a $45 million bond and distributed in 2018, will generate 5,350 jobs over the next 3 years and nearly $1.4 billion in economic impact.
Consistent with our statute, we work with partners across the State of Maine to “encourage, promote, stimulate and support research and development activity leading to the commercialization of new products and services in the State’s technology-intensive industrial sectors to enhance the competitive position of those sectors and increase the likelihood that one or more of the sectors will support clusters of industrial activity and to create new jobs for Maine people.”
In 2018, MTI changed our Investment Process to a more fluid system in order to provide more tailored support and more customer-centric service. Potential clients are encouraged to review our guidelines for funding and to submit their application when the time is right for them.