May 13, 2011
MTI doles out $58K in grants
By The Mainebiz News Staff
The Maine Technology Institute has awarded more than $50,000 in seed grant funds to five companies across the state that specialize in biotechnology and precision manufacturing.
MTI's board of directors approved $57,500 in new seed grants, matched by more than $161,000 from the companies, according to a press release. Seed grants of up to $12,500 are offered six times a year to support early-stage research and development activities for new products and services.
The grant winners are:
- Pondera Pharmaceuticals Inc. in Pownal to fund a clinical trial of its Pondera Endorphinate, an all-natural nutraceutical formula to help minimize pain: $12,500
- AboGen Inc. in Portland to fund a sample processing service for epigenetics studies, which separates cells in saliva for epigenetic testing and diagnostics: $12,500
- Encore in Eastport to fund construction of a prototype small vertical axis wind turbine, $12,500
- The Montalvo Corp. in Gorham to fund market research for its tension control system designed for automated fiber placement applications: $12,500
- Optomistic Products Inc. in South Freeport to fund a business plan for its Universal LightProbe, a programmable sensor that tests LEDs during product assembly to ensure they work before being installed in a wireless modem or on a car's dashboard: $7,500
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