Business Innovation Funding (BIF)
MTI's Business Innovation Funding program supports Maine-based companies in seven tech sectors to research, develop, and commercialize innovative products, services, or processes for economic and job growth.
Funder: Maine Technology Institute
Due Dates: Rolling (apply any time)
Funding Amounts: Typical first-time grants: $10,000–$30,000 | Cumulative grant cap: $100,000 per company | Loans and equity available beyond grant cap
Summary: Supports Maine-based companies in targeted technology sectors to develop, commercialize, and scale innovative products, services, or processes.
Description
The Business Innovation Funding (BIF) program, administered by the Maine Technology Institute (MTI), provides grants, loans, and equity investments to Maine-based businesses developing innovative products, services, or processes within one or more of seven targeted technology sectors. The program is designed to accelerate research, development, prototyping, manufacturing innovation, intellectual property protection, commercialization, regulatory milestones, and team building, all with the goal of driving economic impact and job creation in Maine. Funding is available at all stages from early innovation through to commercialization, and MTI works closely with applicants to tailor support to their growth stage.
