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Sponsored by: Maine Technology Institute
Updated: June 27, 2022 2022 Startup Hub

Maine Technology Institute

A resource for Maine’s dreamers,  doers and risk takers

The Maine Technology Institute (MTI) is proud to sponsor the 2022 Mainebiz Startup Hub. This publication serves as a valuable resource to assist Maine’s dreamers, doers, and risk takers as they embark on their founder’s journey. The magazine is full of helpful information about the organizations and resources that are available to nurture and support entrepreneurs as they develop new products and services, encounter and surmount challenges, create and retain jobs, and grow and scale their operations.

Brian Whitney

MTI is Maine’s unique public-private partnership that helps catalyze innovation. We offer early-stage capital and commercialization assistance in the form of grants, loans, and equity investments, as well as entrepreneurial guidance and mentorship, to achieve our core mission.

As you will see on the following pages, Maine has a vibrant entrepreneurial ecosystem and MTI is truly the focal point in helping to diversify and grow the state’s economy. Since its creation in 1999, MTI has disbursed over $290 million across more than 3,000 distinct projects and leveraged over $1 billion in private sector matching funds.

In addition to investments made directly into private companies, research organizations and educational entities, MTI also works to ensure that a complementary system of supports exists for entrepreneurs and businesses to make certain that they have access to the assistance they need to succeed. We do this by convening entrepreneurial support organizations through our Maine Accelerates Growth (MxG) initiative, and by providing funding to augment state and federal programs that provide business assistance and mentorship like the Small Business Development Centers (SBDC) and SCORE. We also promote entrepreneurship and interest in science, technology, engineering, and mathematics by supporting things like the Maine Center for Entrepreneur’s Top Gun business accelerator program, the Big Gig pitch competition in Bangor, Greenlight Maine, the Maine Science Festival, UMaine’s Student Symposium, Startup Maine, and several business incubators around our state.

We also recently expanded our programming at MTI by launching the Maine Entrepreneurial Resource Corps. This new program will help match Maine start-ups with reliable, affordable consultants who will assist in developing short-term projects to address specific skill shortcomings. MTI is committed to paying 50% of approved projects, making it a win-win for the entrepreneur and the resource provider. More information can be found here: mainetechnology.org/mti-funding/merc

Finally, our statute requires that we help Maine individuals and companies interested in attracting a piece of the $3.7 billion that the federal government doles out annually in research and development funding. MTI provides free technical assistance and guidance to Mainers to help them develop competitive applications.

We hope you enjoy the 2022 Mainebiz StartUp Hub. If MTI can ever be of assistance, please call us at 582-4790 or via our website at mainetechnology.org.

— Brian Whitney
President,
Maine Technology Institute