The Maine Technology Institute awarded more than $21,000 in grants to five Maine companies in May 2016.
This round of funding included three TechStart grants totaling $11,503 and and two Phase 0 KickStarter grants totaling $9,810. In total, the grants leveraged $27,876 of matching funds from the award recipients.
TechStart grants are designed to help defray a company’s startup costs, such as developing a business plan, IP filing fees, etc. Three companies received a TechStart grant:
- Casco Bay Butter in Scarborough; grant total: $1,503; matching funds: $1,503
- Colby College in Waterville; grant total: $5,000; matching funds: $11,463
- ImageWorks in Portland; grant total: $5,000; matching funds: $5,100
The next application deadline for MTI’s TechStart grant program is July 7.
Two companies received Phase 0 KickStarter grants, which help companies prepare SBIR/STTR federal funding proposals:
- Delta Dewatering in South Portland; grant total: $4,800; matching funds: $4,800
- Montalvo Corp. in Gorham; grant total: $5,000; matching funds: $5,100
MTI, created by the Maine Legislature in 2000, provides funding to Maine entrepreneurs operating in one of seven target industries: aquaculture and marine technology, biotechnology, composite materials, environmental technologies, forestry and agriculture, precision manufacturing, and information technology.