MTI awards $57K to small businesses across Maine
The Maine Technology Institute on Tuesday approved four grant applications for the month of February totaling over $57,380 to Maine businesses specializing in advancements in the fields of biotechnology, environmental technology, forestry, agriculture and information technology.
In addition to the amounts awarded by MTI, the award recipients leveraged $68,009 in matching contributions.
Two companies were awarded Tech Start Grants from MTI totally $8,380 in February: South Portland-based Delta Dewatering LLC, awarded $3,380 that was met with a $6,200 matched award; and Grojo Inc. of Turner, awarded $5,000, which was leveraged by a $5,300 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 Business Accelerator Grants from MTI totaling $49,000 in February: South Paris-based Mingle Analytics Inc., awarded $34,000 that was met with a $40,702 matched award; and Niche Diagnostics LLC of Gorham, awarded $15,000, which was leveraged by a $15,807 contribution.
Business Accelerator Grants are available to start-up companies that had previously been awarded Development Loans from MTI, in addition to companies that have been awarded federal Small Business Innovation Research, Small Business Technology Transfer grants, or any other similar federal research and developmental funding awards. A Business Accelerator Grant is provided to increase the competitiveness of the grant recipients by providing funds directed at product and service commercialization.
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