The Maine Technology Institute (MTI) closed the Lightning Round of the Maine Technology Asset Fund 2.0 (MTAF 2.0) in December. MTI accepted applications in the form of a 10-slide pitch deck from October 2 through December 8, 2017. They received 183 proposals seeking a total of $381 million in funding. Maine voters approved $45 million in general fund bond dollars in June 2017 to fund the MTAF 2.0 program.
Companies from all parts of Maine, out-of-state, and out-of-country applied to the MTAF 2.0 program seeking individual funding requests between $18,000 to $45 million. These funds are to support R&D infrastructure, equipment, and technology investments in one or more of Maine’s seven technology sectors.
MTI awarded funding to Vets First Choice; C & L Aerospace Holdings, LLC; Good To-Go, LLC; Hyperlite Mountain Gear; and The Jackson Laboratory from the first Lightning Round application pool for a combined $24.4 million. A second Lightning Round will be announced by MTI to award the remaining $20.5 million.