MTI Core Fund

MTI Core Fund is sponsored by Maine Technology Institute. MTI Core Fund is a grant from the Maine Technology Institute (MTI), a state-backed organization supporting technology innovation and business growth in Maine.

Application Process - Maine Technology Institute Skip to content Home / Explore Funding Programs / Business Innovation Funding / Application Process It starts with a questionnaire , and then a conversation with an MTI team member. Expand each step for more information Step 1: Fill out our Startup Questionnaire The Startup Questionnaire self-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.

Step 2: Fill out the online interest form Once you’ve determined you are a good fit, either through the assessment questionnaire or if you’ve connected with MTI in the past you can complete an Online Interest Form via MTI’s blackbaud portal. Theinterest form is meant to pair you with the right team and resources to assess your readiness for funding and support you throughout the application process.

Not sure if you’re a good fit for the program? Click here for all the funding criteria . Note that filling out an interest form does not mean you are applying for MTI funding yet.

Step 3: Connect with an MTI team member You’ll receive a response within 5-8 business days. If you are a good match for MTI right now, we will schedule an initial meeting, in person, via phone, or virtually. You may be asked to provide relevant information in advance such as a business plan or pitch deck.

During this meeting, your MTI team member will learn about your goals and assess your prospects for submitting an MTI funding request. Every project is different. MTI’s goal is to discuss what types of work are likely to be approved and the amount of MTI funding you may qualify for.

You will also learn about the expectations associated with MTI funding, and if you’re ready, your MTI team member will provide access to the application materials. If you are not a good match for MTI right now, we may refer you to one of our partner organizations. Step 4: Apply at your convenience Based on our meeting results, MTI staff will share instructions for any prospective request for MTI funding..

There are no application deadlines, so you can take your time to put together the most competitive application. Submit your finalized application materials using MTI’s blackbaud Online Application Portal. Link will be provided by your investment officer based on type of funding.

If you do not already have an account you will need to create one. You may complete our online application on your own schedule and you may save the application and come back to it later. During the process, your MTI team member can review draft materials and answer any clarifying questions you may have.

The application is a mix of written questions and data about your innovation, your company, and your goals for your business. Every application will require: Disclosure of all Intellectual Property Larger funding requests, whether that amount is a single request or cumulative over time, will require additional information. Your MTI team member will go over the specifics of what information you need to prepare for your application.

Should you decide not to pursue an application within 90 days of receiving an invitation to apply, please notify your MTI team member so your records can be adjusted accordingly. Step 5: Application review The review timeline is typically 1-4 months, depending on the amount of funding requested.

After MTI receives your application documents online, your MTI team member will provide you a timeline for expectations regarding your application review process. The review timeline may be more protracted if additional details or clarifications are requested of the applicant. Click here for more information about how we review applications .

MTI understands that applicants may choose to begin their project – and begin accruing matching funds – prior to receiving a final decision on their MTI funding application. In this case, applicants should speak with their assigned Investment Officer to ensure that all project expenditures fall within the eligible timeline.

Your MTI team member will make every effort to keep you informed along the review process but please refrain from checking in for updates – we will notify you as soon as we can. Your MTI team member will contact you with MTI’s funding decision and any conditions associated with it. The MTI team member will work with you on the next step – contracting.

On those occasions when MTI decides against funding a project, you will be informed by your MTI team member along with feedback regarding why your application was declined. In some cases, you will be able to reapply once specific factors have been addressed, in others, the decision on that project will be final. You may also be referred to other programs or partners that would be a better fit for your project than MTI.

If your application for funding is successful, MTI will prepare a contract package and email it to you for review and signature. This contract will include your approved project proposal, reporting requirements for the award, and any other conditions identified as part of the approval process. Once you’ve returned it to MTI, it will be countersigned and payments scheduled.

Congratulations! Step 8: Ongoing reporting Your assigned MTI team member will reach out quarterly to check in on your progress. For larger projects, milestone reports may be required from you for each scheduled distribution of MTI funds (based on your original application).

For all funded projects, a final report is required to confirm achievement of the original proposed Scope of Work. Your project reporting may be the start of a request for your next round of funding, but be aware that if your reporting is overdue, no additional funding will be considered. MTI’s goal is to continue to support your work, so feel free to reach out to your MTI team member at any time.

In addition, all MTI clients will be required to submit annual impact reports via our online portal for 5 years post-award.