2016-02-17 / Business

MTI issues $71,164 in awards in January

Topsham, Wiscasset companies involved
The Times Record

BRUNSWICK

The Maine Technology Institute approved four new grant applications in January, totaling $71,164 in awards to entrepreneurs from across Maine to advance new product and process development in biotechnology, composite materials and environmental technology.

This round of MTI awards leveraged $1,664,756 of matching contributions from the award recipients.

Awards from this round include:

• One TechStart grant totaling $1,200

• Two Business Accelerator grants totaling $64,964

• One Phase 0 KickStarter totaling $5,000

“The Maine Technology Institute is delighted to make these foundational investments to help emerging and innovative Maine companies conduct basic business planning, as well as to attract federal research and development dollars,” said Brian Whitney, MTI’s president. “The $71,164 investment from MTI will help leverage a staggering $1.7M in matching investment. That’s terrific for these four companies and, indeed, for the entire state of Maine.”

A summary of awards shows:

• TechStart grant

Optimum Imaging Diagnostics of Scarborough, award amount $1,200; match amount $2,380

TechStart grants are available to entrepreneurs and companies across Maine who are seeking to develop their inventive ideas into new, innovative products or services. Grants are awarded monthly and may be used to support specific activities such as business plan development, intellectual property filings, market analysis, or technology transfer activities out of research institutions. The next application deadline for MTI’s TechStart grant program is March 1.

• Business Accelerator grants

RM Beaumont Corp. of Topsham, award amount $14,964; match amount $224,999

Peregrine Turbine Technologies of Wiscasset, award amount $50,000; match amount $1,432,357

Business Accelerator grants are available to start-up/early stage companies that have been awarded MTI Development Loans and to companies that have recently been chosen for a federal Small Business Innovation Research/Small Business Technology Transfer Phase I or Phase II grant, Broad Agency Announcement award, or any other federal research and development funding program award. The next application deadline for MTI’s Business Accelerator grant program is March 1.

• Phase 0 KickStarter

Compotech, Inc. of Brewer, award amount $5,000; match amount $5,020

The Phase 0 KickStarter is a funding opportunity offered to individuals and companies seeking to submit SBIR/STTR Phase I proposals to one of the 11 federal agencies participating in the program, as well as proposals for BAAs and any other federal R&D funding programs. Phase 0 Kick- Starter applications are accepted on a rolling basis and at least 30 days in advance of solicitation due date.

For more information on MTI funding programs, visit www.mainetechnology.org.

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