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Business Innovation Funding is sponsored by Maine Technology Institute (MTI). Business Innovation Funding is a grant from Maine Technology Institute (MTI) that provides financial support to Maine-based businesses developing and commercializing innovative technologies in targeted sectors including life sciences, environmental technology, information techno…
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Business Innovation Funding - Maine Technology Institute Skip to content Home / Explore Funding Programs / Business Innovation Funding Business Innovation Funding We fuel groundbreaking ideas with grants, loans, and equity investments. Our seasoned team backs scalable businesses that drive Maine’s growth and diversify our industries.
Take Our Startup Questionnaire See if Your Innovation Is Aligned with MTI Criteria Our short assessment will walk you through the criteria for Business Innovation Funding. After answering a few questions, you’ll know whether or not you’re a good fit for funding and can reach out to us for application support.
If the assessment indicates that you’re not a good fit for the program right now, we’ll provide a list of next steps you can work on to improve your chances. Your organization or project must meet the following criteria to be eligible for business innovation funding.
Must be a Maine-based business Fits in one or more of MTI’s seven targeted technology sectors Innovative product, device, or method Clear potential to drive economic impact in Maine Able to provide validation of concept through market research and customer discovery Access to minimum 1-1 matching funds The larger the funding request, the more thorough the due diligence required — which can include a financial review, business systems review, and/or technology review.
Ranges from $10,000 to $250,000, depending on eligibility. Step 1: Fill out our Startup Questionnaire to determine whether you might be a fit for Business Innovation Funding. Step 2: Once determined you are a fit for Business Innovation funding, a link to the Online Interest Form via MTI’s blackbaud portal will be shared with you.
Complete the online interest form. This is the first step in connecting with MTI staff to discuss potential funding. Step 3: Connect with an MTI team member: Meet and review goals and next steps.
Step 4: Application: You’ll be invited to apply if your advisor determines you’re a good candidate for funding. Apply at your convenience using the link provided by your investment officer, to MTI’s blackbaud Online Application Portal. Step 5: Application review: After MTI receives your application documents online, your MTI team member will provide you a timeline for expectations regarding your application review process.
Step 6: Decision: Your MTI team member will contact you with MTI’s funding decision and any conditions associated with it Step 7: Contracting: If your application for funding is successful, MTI will prepare a contract package and email it to you for review and signature. Step 8: Ongoing reporting: Your assigned MTI team member will reach out quarterly to check in on your progress. Learn more about each step in the process.
Get Started on the Funding Process Take the first step by filling out our Startup Questionnaire. If you are a new user, you’ll be asked a few quick questions to determine the best path forward – whether that’s completing our self-assessment questionnaire or connecting directly with an MTI Investment Officer after filling out an Interest form.
If you’ve already connected with MTI about Business Innovation Funding you will be guided back to the MTI interest form. Please visit our FAQ page if you have questions or need guidance on using the online portal for submitting your interest in MTI support.
Based on current listing details, eligibility includes: Maine-based businesses with an innovative product, device, or method in MTI's seven targeted technology sectors; requires minimum 1-1 matching funds. Applicants should confirm final requirements in the official notice before submission.
Current published award information indicates $10,000 to $250,000 Always verify allowable costs, matching requirements, and funding caps directly in the sponsor documentation.
The current target date is rolling deadlines or periodic funding windows. Build your timeline backwards from this date to cover registrations, approvals, attachments, and final submission checks.
Federal grant success rates typically range from 10-30%, varying by agency and program. Build a strong proposal with clear objectives, measurable outcomes, and a well-justified budget to improve your chances.
Requirements vary by sponsor, but typically include a project narrative, budget justification, organizational capability statement, and key personnel CVs. Check the official notice for the complete list of required attachments.
Yes — AI tools like Granted can help research funders, draft proposal sections, and check compliance. However, always review and customize AI-generated content to reflect your organization's unique strengths and the specific requirements of the solicitation.
Review timelines vary by funder. Federal agencies typically take 3-6 months from submission to award notification. Foundation grants may be faster, often 1-3 months. Check the program's timeline in the official solicitation for specific dates.
Many federal programs offer multi-year funding or allow competitive renewals. Check the official solicitation for continuation and renewal policies. Non-competing continuation applications are common for multi-year awards.
Innovation Ecosystem Development Program is sponsored by Maine Technology Institute (MTI). This program is a competitive application process to spur the development of programs that directly support innovation and entrepreneurship in MTI's seven targeted technology sectors. Applicants must demonstrate how their project will provide a catalyst for enhancing Maine's innovation economy and supporting Innovation-Driven Enterprises (IDEs) as they scale and grow.
Maine Technology Institute (MTI) Seed Grant Program is a grant from the Maine Technology Institute that provides early-stage funding to Maine entrepreneurs and startups developing innovative technology products and services. Seed grants of up to $25,000 support proof-of-concept work, prototype development, and early market validation activities for technology-based ventures in MTI's target sectors including biotechnology, environmental technology, information technology, precision manufacturing, and composites. Eligible applicants are Maine-based for-profit businesses, startups, and entrepreneurs in the early stages of technology development. Seed grants serve as a stepping stone to larger MTI awards and outside investment by helping entrepreneurs de-risk their technology and build a foundation for commercialization. A cash match is required from the applicant or outside investors.
The purpose of this FOA is to provide funding for up to four (4) Tribal Colleges and Universities (TCUs) that will provide entrepreneurial development services to Native American communities, focusing on supplying services to socially and economically disadvantaged entrepreneurs in locations that are outside of the geographical areas of existing SBA resources. Eligible applicants must be Tribal Colleges and Universities as defined in the Higher Education Act HEA 316 (U.S.C. 1059c). Funding Opportunity Number: SB-GC7J-23-002. Assistance Listing: 59.007. Funding Instrument: G. Category: BC,ED. Award Amount: Up to $250K per award.
The purpose of this FOA is to provide funding for up to two (2) private, non-profit organizations that will provide entrepreneurial development services to women, with an emphasis on socially and economically disadvantaged entrepreneurs in locations that are outside of the geographical areas of existing WBCs for the District of Columbia (DC) and the State of Oregon. There will be one award for each location. Eligible applicants must be private, non-profit organizations with 501(c) tax exempt status from the U.S. Treasury’s Internal Revenue Service and must provide services to the District of Columbia (DC) and State of Oregon. Funding Opportunity Number: SB-OEDWB-23-002. Assistance Listing: 59.043. Funding Instrument: G. Category: BC,CD,RD. Award Amount: $75K – $150K per award.
Small Business Innovation Research and Small Business Technology Transfer Programs Phase I is sponsored by U.S. Department of Agriculture (USDA) National Institute of Food and Agriculture (NIFA). The USDA SBIR/STTR programs support small businesses in creating innovative, disruptive technologies with commercial potential or societal benefit, including projects dealing with agriculturally-related manufacturing and alternative and renewable energy technologies. Specialty tubing could be relevant for agricultural equipment or renewable energy systems.