MTI gives Maine entrepreneurs $46,454 boost in funding

The Maine Technology Institute approved six grant applications for the month of July totaling $46,454 to Maine businesses specializing in advancements in the fields of aquaculture and marine technology, biotechnology, composite materials, precision manufacturing, forestry and agriculture and environmental technologies.

The award recipients matched that amount with a total of $48,000.

Four organizations were awarded Tech Start Grants from MTI totaling $19,454: Buxton-based Saco River Dentistry, awarded $5,000 from MTI with a $5,000 match; Seamade Seaweed Co. of Portland, awarded $5,000 with a $6,000 match; Belfast-based Surge Hydro, awarded $4,454 with a $5,000 match; and Portland-based Thrivant Health, awarded $5,000 with a $5,000 match.

Tech Start Grants are awarded monthly to entrepreneurs and companies across the state looking to develop innovative products and services. They can be used for specific developmental activities such as market analysis and intellectual property filings.

Other awards

Saco-based Maine Textiles International was awarded a Business Accelerator Grant from MTI totaling $22,000 in July, with a $22,000 match.

Business Accelerator Grants are available to start-up companies that had previously been awarded Development Loans from MTI, in addition to companies that have been awarded federal Small Business Innovation Research grants, Small Business Technology Transfer grants, or any other similar federal research and developmental funding awards.

Portland-based Rosemont Market snagged a $5,000 Phase 0 KickStarter Grant from MTI, which was met with $5,000 in matching contributions.

A Phase 0 KickStarter Grant is offered to support competitive federal proposal submissions from Maine applicants. The funds are to be used for costs associated with preparing a proposal, such as paying for grant writers and consultations from experts in a given field.