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Maine Technology Institute is funding 19 Maine entrepreneurs

MAINE — A total of $1,686,850 has been awarded to 19 Maine companies by the Maine Technology Institute (MTI). The funds, which include both development loans and seed grants, are being awarded to advance new product and process development in biotechnology, composite materials, environmental technology, forestry and agriculture, information technology, aquaculture and marine technologies and precision manufacturing technology.

“MTI invests in entrepreneurs conducting basic research in a garage all the way up to publicly traded companies in an effort to stimulate the development of new products, processes and companies that help grow Maine’s innovation economy,” said Brian Whitney, MTI’s president.  “The projects funded in this round cover all of our state’s seven targeted technology sectors, leverage private sector matching investments of over $3.3 million, and comprise established Maine companies and start-up ventures.”

To see a complete list of companies receiving MTI awards, go here.

Source: MTI Press Release


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