MTI awards $21K to five businesses across Maine

The Maine Technology Institute approved five grant applications for the month of May totaling $21,303 to Maine businesses specializing in advancements in the fields of aquaculture and marine technology, precision manufacturing, environmental technologies and information technology.

In addition to the amounts awarded by MTI, the award recipients leveraged $27,876 in matching contributions.

Three companies were awarded Tech Start Grants from MTI totaling $11,503 in May: Scarborough-based Casco Bay Butter Co., awarded $1,503 that was met with a $1,503 matched award; Colby College in Waterville was awarded $5,000 that was met with a $11,463 matched award; and Portland-based ImageWorks, awarded $5,000, which was leveraged by a $5,100 contribution.

Tech Start Grants are awarded monthly to entrepreneurs and companies across the state that are looking to develop innovative products and services and can be used for specific developmental activities such as market analysis and intellectual property filings.

Two companies were awarded Phase 0 KickStarter Grants from MTI totaling $9,800 in May: South Portland-based Delta Dewatering, awarded $4,800 that was met with a $4,800 matched award; and Montalvo Corp. of Gorham, awarded $5,000, which was leveraged by a $5,010 contribution.

A Phase 0 KickStarter Grant is offered to support competitive federal proposal submissions from Maine applicants. The funds are to be used for costs associated with preparing a proposal, like grant writers and consultations from experts in a given field.