$5M in grants available to help Maine tech startups expand

Courtesy / Office of Gov. Mills On Wednesday, Gov. Janet Mills visited two factories, including Nyle Systems, a Brewer-based manufacturer of heat pump technology. She is shown here with Ton Mathissen, the company's CEO.

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By Renee Cordes

A total of $5 million in grants is up for grabs to help Maine technology startups and small businesses expand and create jobs.

The funding, from the governor's Maine Jobs & Recovery Plan, represents the second round of grants from the Pandemic Recovery for an Innovative Maine Economy, or PRIME Fund, administered by the Maine Technology Institute.

In late July, the PRIME program awarded nearly $23.3 million in grants to 174 Maine technology companies to help them recover from the pandemic, invest in new products and business lines, attract new customers and create long-term economic growth.

In the upcoming round, MTI will provide grants to organizations that support Maine’s targeted technology sectors, such as biotechnology, composites and advanced materials, forestry and agriculture, marine industries and precision manufacturing.

The competitive application process requires matching investments by applicants, and MTI anticipates the individual awards will be up to $750,000.

“Maine has an amazing system of supports for small businesses,” said Heather Johnson, commissioner of the Maine Department of Economic & Community Development. “This PRIME funding will help leverage existing resources and address gaps to ensure that entrepreneurs have the tools they need to succeed.”

Gov. Janet Mills announced the latest PRIME grants Wednesday during visits to Nyle Systems, a Brewer-based manufacturer of heat pump technology, and Bangor-based Mobile Price Card, a software developer for retailers, each of which received PRIME grants during the first round.

“Our first round of grants provided critical funding directly to small businesses to help them expand," said Mills, who is running for reelection this November against her predecessor, Republican Paul R. LePage. "This second round of grants will support the efforts of established businesses who provide important advice, mentoring, and other guidance to entrepreneurs and startups in Maine to get them off the ground."