Maine Technology Institute

The Maine Technology Institute (MTI) is a publicly financed, private non-profit organization dedicated to stimulating economic growth and job creation in Maine by fostering innovation and commercialization within the state's technology sectors. Established in 1999, MTI provides a comprehensive suite of financial support mechanisms, including grants, loans, and equity investments, to Maine-based companies and entrepreneurs engaged in research, development, and commercialization of new products and services. Their strategic focus is on seven key technology sectors: biotechnology, composite materials, environmental technologies, forest products, information technology, marine technology, and precision manufacturing, aiming to diversify and strengthen the state's economy.

MTI's funding programs are designed to support companies across various stages of development, from early-stage research and development to commercialization and market entry. Their offerings include Seed Grants, which provide up to $25,000 for initial R&D, and TechStart Grants, offering up to $50,000 for more advanced R&D projects. For companies nearing commercialization, MTI provides Development Loans that can extend up to $500,000. Additionally, they offer Business Accelerator Grants and crucial SBIR/STTR Matching Grants, which can provide up to $100,000 for Phase I and up to $500,000 for Phase II federal awards, significantly leveraging federal funding for Maine companies.

Beyond grants and loans, MTI also makes direct equity investments, typically ranging from $100,000 to $500,000, often in companies that have previously received MTI funding or align strongly with their mission. This multi-faceted approach ensures that promising technologies and businesses receive the necessary capital to advance from concept to market. Since its inception, MTI has played a pivotal role in Maine's innovation ecosystem, having invested over $350 million in more than 2,700 projects across the state, demonstrating a sustained commitment to fostering a vibrant and competitive technology landscape.