Maine Technology Asset Fund Purpose In 2007, the Maine State Legislature authorized and the voters of the State of Maine approved $50 million in bond funds for research, development and commercialization projects that boost economic development and create jobs across the State. The Legislature directed the Maine Technology Institute (MTI) to administer this venture based on its track record of administering high-impact innovation funding programs in the for-profit, nonprofit and university sectors. MTI has established the Maine Technology Asset Fund in response to this directive. The Maine Technology Asset Fund is a two-year, competitive award program. The awards must be used to fund capital and related expenditures supporting research, development and commercialization projects that will lead to significant economic benefits for Maine. The expenses may include facilities construction and renovation, machinery and equipment (including computers, software and licenses required for their use, as well as related technician training for operation of equipment and machinery purchased) and land purchase. This may also include expenses directly associated with the acquisition and installation of such assets. The awards may not be used to fund ordinary annual operating expenses. Over two highly competitive application rounds, MTI received 115 requests for over $215 million for research, development and commercialization projects from Maine companies, universities and nonprofit research institutions.  After rigorous review by a combination of out-of-state and Maine experts as outlined in the Request for Applications, the MTI Board approved two rounds of a total of 28 awards (click here for the award list).  Once approved, award recipients have up to six months to meet the conditions of their awards, such as raising the required matching funds and signing their contracts.  MTI requires that MTAF awardees report on the progress and impact of their projects on a quarterly and annual basis.  The projects are also independently assessed as part of Maine's annual evaluation of the impact of the State's investments in research and development. As all $50 million of the original MTAF award funds have been allocated, there are no additional MTAF application rounds scheduled at this time.  However, in its Spring 2009 session, the Legislature passed a bond package that included $3 million in research and economic development awards.  Should this funding be approved by Maine voters in June 2010, then a subsequent application round will be announced.  For more information about MTAF, please contact Patti Sutter, MTI Program Assistant at 207-582-4790 ext. 211. Application Process There are two competitive rounds of awards. Round one awards were announced on August 11, 2008. The second round of awards opened on Friday, October 17, 2008 and the deadline for applications closed on January 21, 2009. Click here to review the list of applicants in the second round of awards. For detailed information on the application process, click here. Review Process To assist with the rigorous review and competitive ranking of applications, MTI contracted with the American Association for the Advancement of Science (AAAS), a respected scientific organization that has worked with over 30 states to implement research and technology commercialization programs. For information on the review process, click here. Announcement of Awards The MTI Board approved the first round of awards on August 11, 2008. Read the list of 14 award recipients and the project descriptions with total requests for $29,919,446.  Subsequently, two applicants whose awards were approved (Sappi Fine Paper Technology Center and Seldon Technologies, Inc.) did not go forward with their projects. The MTI Board approved the second round of awards on June 8, 2009.  Read the list of 16 award recipients and their project descriptions with total requests for $25,199,507.   Questions and Answers MTI offers a list of questions and answers asked during workshops and via e-mail to provide a general interpretation of the Request for Applications and the second round of awards. MTI cannot guarantee  that the general responses will apply in the case of each individual projet; when there is a contradiction, the RFA will rule.