· 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.
