News

(From Maine Startups Insider) In 2021, the Maine Angels invested $4 million in 16 companies, including $1.8 million deployed to 5 companies which are new to Maine Angels. Several MTI clients are among the most recent additions. Read more »

(From Mainebiz) Twelve startups have been selected to participate in the inaugural cohort of the Dirigo Labs accelerator program in Waterville, including some MTI portfolio companies. The program will run through mid-June, culminating with a pitch event. Read more »

(From Mainebiz) Maine has a new entrepreneurship program called "MCE Compass" which will offer business training to startups in the outdoor sector. The Maine Center for Entrepreneurs and Maine Outdoor Brands recently named 19 participants for the upcoming 10-week program, including some MTI portfolio companies. Read more »

(From Maine Startups Insider) The University of Maine’s Foster Center for Innovation recently selected 4 teams to participate in the Maine Innovation Research and Technology Accelerator (MIRTA) program. The MIRTA program is supported by MTI and the University of Maine System Research Reinvestment Fund. Read more »

(From Bangor Daily News) MTI will administer $6 million in grants to more than 200 forestry companies in Maine. The Forestry Recovery Initiative will help bolster rural logging and trucking companies that were negatively impacted by the pandemic. Read more »

(From newscentermaine.com) Sponsored in part by MTI, the Maine Science Festival brings Maine science to the public by showcasing national and world leading science by the Mainers who do it. From March 16-20, the festival will feature more than 70 events for all ages. Read more »

(From Mainebiz) Season 4 of the "Greenlight Maine Collegiate Challenge" is slated to begin airing on March 24. Ten student-led startups will compete for thousands of dollars in prizes. MTI is a series sponsor and one of MTI's Senior Investment Officers, Amy Leshure, will serve on the panel of judges. Read more »

(From WMTW) Recently Brunswick-based, bluShift Aerospace, successfully tested a full-scale version of its new rocket engine. The engine is 8 feet long and powered by a non-toxic, carbon-neutral, bio-derived solid fuel. The successful test makes way for the next suborbital rocket, Starless Rogue, and orbital rocket, Red Dwarf. MTI is an ongoing bluShift supporter. Read more »

(From Mainebiz) ImmuCell recently posted significant sales increases for 2021. The Portland-based biotech company manufactures health products for cattle and is developing a treatment for a dairy cow disease. In 2020, ImmuCell received a $500,000 loan from MTI to help bolster production. Read more »

(From Mainebiz) Portland-based Ocean Renewable Power Co. (ORPC) will partner with Our Katahdin to create a river-driven power system testing facility at the former Great Northern Paper Mill site in Millinocket. The system will be designed to generate electricity from river and tidal currents. MTI has been a consistent funder and supporter of ORPC since its inception. Read more »