Who is MTI?
Founded and funded in 1999 by the Maine State Legislature, MTI offers grants, loans, equity investments, and services to support Maine’s innovation economy. We support new ideas, devices, or methods with the potential to grow and diversify Maine’s economy and increase the number of quality jobs throughout the state through direct support of innovators and through support of programs and infrastructure that encourage innovation.
Is MTI a state agency?
MTI is a private non-profit organization created and funded by the State of Maine. It is governed by a Board of Directors appointed by Maine’s Governor. The Board is made up of industry leaders and representatives of several public agencies that share MTI’s mission of supporting research and development and the commercialization of products and services in Maine’s technology sectors.
Can I use MTI funding to support an innovative project relating to the cultivation, possession, distribution, use or promotion of cannabis?
Probably not. MTI’s cannabis policy is linked here.
How can I join a Technology Board?
Service on the MTI Technology Boards is voluntary and is open to private sector representatives, scientists and other representatives of the targeted technology sectors. If you are interested in serving on a Technology Board please contact us at [email protected]. Your interest and background will be reviewed by Technology Board members who will decide whether to accept new members at that time based on that board’s size and skill set needs.
What is the next step to apply?
To learn about our applying, read through our investment process. If you’re ready to go, start the process here. MTI uses a nationally recognized assessment tool to help our clients assess their most urgent needs to maximize their chances of successfully commercializing their innovation. To learn more about the assessment tool and conduct a self-assessment, visit VIRAL.
Is there a way to appeal an MTI decision?
Yes, MTI has a standard appeal policy that is linked here: MTI Appeal Policy
What sector does my technology belong in?
You can reference the Seven Technology Sectors section to review the targeted technologies. Your technology may fit one or several sectors, or may be a the intersection of sectors. Please feel free to call MTI program staff or submit your question for further information.
Is it a grant or a loan?
MTI awards include grants, loans and equity depending on the award. Your MTI advisor will work with you to determine the appropriate investment vehicle.
Is there additional funding available in Maine?
There are other organizations that provide funding to businesses for growth. Please see the Partners and Links list for information.
Does the manufacturing have to take place in Maine?
Awardees must have a significant base of operations in Maine prior to signing their MTI Agreement. The base of operations may include but is not exclusive to business and manufacturing operations, product development support or process improvement activities resulting from the Technology funded by MTI.
How do I determine my pay rate?
All salaries/wages, whether match or paid with MTI funds, must be the actual pay rate, or should NOT exceed the mean hourly wage rates for the comparable category position compiled by the Bureau of Labor and listed at the Standards National Occupational Employment and Wage Estimates, unless clearly justified.
MTI does not have a set rate for consultant/contractor services, or for non-principal project personnel. However, a reasonable rate is expected. MTI staff will verify that the proposed rates are the actual billable rates for the consultant/contractor or other personnel.
What qualifies as in-kind match?
Uncompensated hours or significantly reduced rates compared to reasonable market rates for personnel or external contractors, donated equipment or project expenses, and costs associated with loaned or in-house use of company equipment all qualify as in-kind. In-kind support is not a substitute for the cash match.
Can I count money I’ve already spent as match?
MTI funds cannot be used to recoup sunk costs incurred prior to the submission deadline and these costs may not be recovered or used as match for the MTI Project.
Where can I get help writing my business plan?
In addition to MTI staff, there are a number of programs offered in Maine tasked with assisting you, the Maine entrepreneur. Please click here for a list of resources.
Can I sell my product outside of Maine?
Of course!