Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

September 15, 2008

MTI awards $30M 
in R&D funding
 | A rundown of the $30 million in R&D funds the Maine Tech­nology Institute doled out to 14 Maine business and nonprofits

By Whit Richardson


On Aug. 11, the Maine Tech­nology Institute doled out $30 million in R&D funds to 14 companies and nonprofits across the state. The grants are the first of two rounds of grants from the Maine Technology Asset Fund, which the state created in January with $50 million from the R&D bond voters approved last November to help companies and research groups move products from the R&D phase into commercialization.â€&Copy;

MTI received 66 applications for its first round of grants and chose the 14 recipients based on their potential for economic impact, their scientific merit and feasibility and their relevance to the state’s innovation economy needs. The biggest recipient was the University of Maine, which received more than $13 million for five individual projects, the two biggest being the Advanced Engineered Wood Composites Center, which received just a shade less than $5 million to build two laboratory additions totaling 14,000 sq. ft. to support the composites industry, and UMaine’s Forest Bioproducts Research Technology Center, which received $4.8 million to create a technology center at the former Georgia-Pacific mill in Old Town.â€&Copy;

The other organizations receiving hefty amounts were The Jackson Laboratory in Bar Harbor, which received $4.7 million to expand the nonprofit laboratory’s technology capabilities and facilitate commercialization opportunities for new technologies, and the University of New England’s College of Pharmacy, which received $4 million to help complete the construction of its drug discovery and development research labs at its new pharmacy school campus in Portland. â€&Copy;

Sign up for Enews

Mainebiz web partners

Most Recent

Most Recent

Comments

Order a PDF