The Maine Technology Institute awarded more than $45,000 in grants to six Maine companies in July 2016.
This round of funding included four TechStart grants totaling $19,454, one Business Accelerator grant of $22,000, and one Phase 0 KickStarter grant of $5,000. In total, the grants leveraged $48,000 of matching funds from the award recipients.
Business Accelerator grants are provided to companies seeking funds to commercialize new technology or help a business increase its scope and sustainability.
- Maine Textiles International in Saco received a $22,000 Business Accelerator grant in July, which it matched with $22,000.
TechStart grants are designed to help defray a company’s startup costs, such as developing a business plan, IP filing fees, etc. Four companies received a TechStart grant:
- Saco River Dentistry in Buxton; grant total: $5,000; matching funds: $5,000
- Seamade Seaweed Company in Portland; grant total: $5,000; matching funds: $6,000
- Surge Hydro in Belfast; grant total: $4,454; matching funds: $5,000
- Thrivant Health in Portland; grant total: $5,000; matching funds: $5,000
One company received a Phase 0 KickStarter grant, which helps companies prepare SBIR/STTR federal funding proposals:
- Rosemont Market in Portland; grant total: $5,000; matching funds: $5,000
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.
