MTI’s programs help innovators accelerate progress to the market, leverage additional private and public investment, and ultimately, expand their economic impact in Maine. Since its founding in 1999, MTI has invested over $365M in nearly 3,800 distinct projects across Maine’s 16 counties. MTI funding has simultaneously generated over $1 billion in private sector matching investment. These investments have resulted in new jobs, new technologies, expanded Maine’s economy, and accelerated business growth.
Read more about MTI’s impact in our FY23 Annual Report.
In FY23 MTI deployed $7.8 million across 123 distinct projects. This funding leveraged more than $42.8million in private sector matching investment.
The State of Maine has targeted seven technology sectors best suited for investment and other forms of support. These include both mature industries (like forestry and agriculture) as well as emerging ones (such as composite materials and biotechnology). In FY23, MTI invested in businesses within all seven
of these targeted sectors, helping to create a more vibrant and diversified economy.
Because MTI invests in businesses of varying maturity, and because we individualize our approach and investment to the clients needs, we distribute our levels of funding across four ranges. Generally, we fund a greater number of projects at a lower level, then dedicate larger levels of investment to a smaller number of projects that will have a greater impact.
