Business Innovation Funding
MTI's Business Innovation Funding supports Maine-based tech businesses developing innovative solutions in targeted sectors, from research to commercialization, with funding and expert guidance.
Funder: Maine Technology Institute
Due Dates: Rolling (no deadline)
Funding Amounts: Typical grants $10,000–$250,000; first-time grants usually $10,000–$30,000; cumulative grant limit per company $100,000 (larger amounts via loans/equity possible).
Summary: Supports scalable, innovative Maine-based businesses in targeted technology sectors with funding and expert guidance to drive economic growth.
Key Information: 1:1 match required (cash or partial sweat equity); must be Maine-based and in a targeted tech sector.
Description
This program backs scalable Maine-based businesses developing innovative products, devices, or methods that have the potential to drive economic growth and diversify the state’s industries. Business Innovation Funding is designed for companies working within one or more of MTI’s seven targeted technology sectors, providing grants, loans, and equity investments. MTI supports projects at all stages of innovation (from research to commercialization), offering hands-on guidance throughout the process—from initial assessment to progress reporting—to maximize the economic impact of funded projects in Maine.
