August 31, 2017
The Maine Technology Institute will receive $45 million as a result of the $50 million bond referendum that voters approved earlier this year and is looking to gather feedback on the process it will use to distribute it.
MTI will be soliciting proposals from Maine organizations looking to make investments in equipment, infrastructure and technology upgrades that will drive innovation. It will be a competitive application process and organizations that want to apply will have to demonstrate how the R&D funding will complement their own matching investments to the greatest possible extent and for the greatest possible economic impact. They will also need to show how the grant funding will help them gain and hold market share, increase revenues, and grow or preserve jobs for Maine people.
MTI also held informal sessions for the community earlier in the week to gather feedback. As with all state bond funds, awards must be used for capital and infrastructure expenditures, such as equipment and facilities renovation.
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This article is courtesy of Maine Startups Insider, created by Whit Richardson, a journalist who’s covered Maine’s business community for the past decade. Visit Maine Startups Insider to read more about Maine’s startup community and subscribe to the weekly newsletter.
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