MTI awards $15,000 to Maine entrepreneurs
The Maine Technology Institute awarded three grants totaling $15,000 to entrepreneurs working on advances in aquaculture and marine technologies, composite materials and information technology.
The awards included two Tech Start Grants totaling $10,000 and a Kickstarter grant of $5,000.
Portland-based Coast of Maine Organic Products Inc. of Portland, received a $5,000 Tech Start Grant that was matched with $6,935 from the company. The company makes organic fertilizer and compost from marine material.
Pellet-burning boiler developer Interphase Energy of Portland also received a $5,000 TechStart Grant, which was matched with $6,800.
Tech Start Grants are available to entrepreneurs and companies across Maine that are seeking to develop their inventive ideas into new, innovative products or services, according to MTI. The grants are awarded monthly, and the next application deadline is Jan. 5.
Revolution Research of Orono, a developer of eco-friendly packaging and construction materials, received a $5,000 KickStarter grant, which was matched by $5,000 from the company. KickStarter funding is offered to individuals and companies seeking to submit proposals for federal small business R&D programs.
“These small but critical MTI investments will help these three companies conduct basic business research and planning to help convert their innovative ideas into new products or processes,” Brian Whitney, MTI’s president, said in a news release. “Each of these companies is engaged in rising sectors of Maine’s economy and will, as MTI’s mandate prescribes, help enhance the competitive position of the sectors.”
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