Development Awards
Purpose
Investments of up to $500,000 are made three times a year to support research and development of new products and services that lead to the market. All projects must fall under one of Maine's seven targeted technology sectors. Eligible projects include prototype development and testing, patent applications, small scale manufacturing, and scale up for manufacturing with limited production.
Next deadline for Development Award Round 22 is:
October 6, 2008, by 5:00 p.m.
Applications received after 5:00 p.m. will not be accepted.
Application Assistance
If you are unfamiliar with the development award application process, MTI strongly encourages you to consider drawing on outside assistance, whether paid or pro bono, and preferably with someone familiar with the MTI development award application process.
MTI partners with the Maine Small Business and Technology Development Center (SBTDC), which provides no cost business and development award application counseling for technology entrepreneurs. With three to four months lead time, an SBTDC counselor can provide assistance with project scope, resource requirements, narrative, budget development, match and market data. With two months or less a counselor can review for completeness, help with narrative and refine the match.
For more information or to request counseling visit the SBTDC website, or contact SBTDC center director Meriby Sweet at meriby@usm.maine.edu.
REQUEST FOR APPLICATIONS
PLEASE NOTE THAT THE FOLLOWING CHANGES TO THE DEVELOPMENT AWARD REQUEST FOR APPLICATION (effective February 2008)
· Elimination of ‘Near to Market’ and ‘Far to Market’ designation. The Development Award maximum request remains $500,000.
· Prior to funding, all applications are now required to go through Business Review Committee and the Business Review Committee interview stage prior to reaching the Board of Directors. (p. 17)
· Types of Projects Supported – the following language has been added: “or designs for manufacturing and scale up of manufacturing with limited production”. Note: Scale up of manufacturing and limited production will only be considered if there are significant research & development components of the project involved. MTI Development Awards are intended to support specific projects that help advance products and services toward market or to enhance products currently or previously on the market. (p.4)
· Reduction to Indirect/Overhead Allowance – The total allowable budget line for indirect/overhead has been reduced from 25% to 20% of the total budget. In addition, the total allowable MTI indirect/overhead cost cannot exceed 20% of the MTI funds. (p.6)
· Addition of Sales and Marketing activity as an allowable expense – The total allowable budget line for sales and marketing cannot exceed 15% of the total budget. In addition, the total allowable MTI sales and marketing cost cannot exceed 15% of the MTI funds. (p.6)
· Repayment Terms – the new terms call for repayment within 3 years after commercialization with no penalty or interest. After 3 years, the unpaid balance will increase by 30% and subsequently by 10% annually. After 3 years there is a required minimum payment of 2% of gross sales from the product or process developed. (p. 16)
Click here to download the Development Award Request for Applications
You must have Acrobat Reader to view the application document. Email questions about the application to info@mainetechnology.org.
Online Registration
Application and Contracts
|
Application Worksheets
|
|
If you have Microsoft Excel or Word, you may download the application worksheets in Excel spreadsheet or Word document formats, otherwise click the Acrobat link to view and print in Acrobat Reader.
|
