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January 21, 2008

Fund launched with R&D bond

The $50 million research and development bond voters approved in November will be allocated in a competitive application process, according to an announcement Friday from Maine's Department of Economic and Community Development.

The money will be held in a new fund called the Maine Technology Asset Fund, which will be managed by the Maine Technology Institute. The fund will grant money to approved capital and infrastructure projects at universities, nonprofits or for-profit entities, with special consideration for organizations collaborating to "move new technologies to the market," according to a press release.

The process will be detailed in full in a Request for Applications scheduled to be released by Feb. 1. MTI will conduct informational sessions on the new program next month. More information on the Maine Technology Innovation Asset Fund can be found here.

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