On June 13, 2017, a general fund bond issue for investments in research, development, and commercialization was approved by voters in a statewide vote. That bond included $45,000,000 to be distributed by the Maine Technology Institute (MTI) “in the form of grants to support infrastructure, equipment, and technology upgrades in the following targeted technology sectors: biotechnology, advanced technologies for forestry and agriculture, information technology, and precision manufacturing technology” (Maine Office of the Secretary of State).

MTI plans to distribute about half of the bond funds through a series of Lightning Rounds before the end of 2017. Interested applicants must meet all program requirements, including being a Maine organization; providing at least a 1:1 cost share for the project; using the funds for infrastructure (capital construction, improvements, or equipment costs); be associated with research, development, and commercialization innovation; and be within or intersect with one or more of Maine’s seven technology sectors. The application involves registering proposals on MTI’s online portal and submitting a 10-slide project pitch deck. Slide decks will be accepted after October 2, 2017 and will be considered monthly through December 8, 2017.

For more information on MTI’s Technology Asset Fund program requirements visit: https://www.mainetechnology.org/program/maine-technology-asset-fund-2-0/