MTI Deadlines for Upcoming Grants and Financing

January 5, 2010

FOR IMMEDIATE RELEASE
January 5, 2010
Contact: Joe Migliaccio
Maine Technology Institute
(207) 582-4790, x 204

Maine Technology Institute Announces Deadlines for Upcoming Grants
and Financing

GARDINER, Maine – There are upcoming deadlines for the next round of three Maine Technology Institute (MTI) programs that fund innovative, technology based projects that lead to commercialization. Seed Grants, Development Awards and Cluster Initiative Program award funding are available and MTI encourages technology start-ups, existing businesses and organizations working to further technology innovation in Maine to apply.

"Innovation is often the force behind any economic recovery. These grant opportunities will act as a stimulus for Maine companies to invent, develop and bring new products, ideas and services to the marketplace,” said Betsy Biemann, MTI president.

• The application deadline for the next round of Development Award financing requests is February 9, 2010. Development Awards are 0% and low interest loans of up to $500,000 that are offered three times a year on a competitive basis to cost-share product and process development,commercialization, technology transfer and technology-business planning. Each award requires a 1:1 dollar match consisting of actual cash, salaries, staff time or equipment and in-kind contributions directly attributable to the proposed project.

• The deadline for the next round of Seed Grants applications is February 11, 2010. Seed Grants of up to $12,500 are offered on a competitive basis six times per year to support early activities for product development, commercialization or business planning. The awards require a 1:1 match of funds, staff time, equipment or other resources. A company can be awarded up to a
total of $25,000 in Seed Grants for a specific technology.

• The deadline for the next round of Cluster Initiative Program applications is March 18, 2010.

The Cluster Initiative Program provides funding for feasibility and planning initiatives and multi-year collaborative projects that seek to strategically advance the competitiveness of Maine’s high-potential technology clusters. Applications for rolling program awards, up to $50,000, can be submitted at any time, while major awards of up to $500,000 are available
twice per year through an application and competitive review process. Each award requires a 1:1 dollar match consisting of cash, salaries, staff time or equipment and in-kind contributions directly attributable to the proposed project.

MTI is also presenting workshops for Cluster Initiative Program Awards on January 13 in Orono and January 14 in Westbrook. Attendees will be introduced to concepts and practices for successfully improving clusters and what is involved in preparing a competitive CIP award application, including advice about making an application clear, focused, complete and compelling.

To register and learn more about the Cluster Initiative Award workshops, contact Patti Sutter: 207-582-4790 ext. 211 or by email, psutter@mainetechnology.org.

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About MTI
MTI is a publicly financed, private, nonprofit organization created by the Legislature in 1999 to stimulate research and development activity leading to the commercialization of new products,
processes and services in the state's seven technology-intensive sectors. Programs are designed to enhance the competitive position of those sectors and increase the likelihood that one or more of the sectors will support clusters of industrial activity and create quality jobs across Maine. More about MTI
at: www.mainetechnology.org.