MTI Offers $45M in R&D Bond Funding for Equipment, Technology, and Infrastructure

The application process is OPEN now to apply for funds through the Maine Technology Institute’s new challenge grants, which will award $45 million to infrastructure, equipment, and technology upgrades for research, development and commercialization. Approved by Maine voters in 2017, these funds can be awarded to public and private entities to support the following targeted technology sectors: biotechnology, aquaculture and marine technology, composite materials technology, environmental technology, advanced technologies for forestry and agriculture, information technology, and precision manufacturing technology.

These grants could be helpful in bringing emerging biobased technology to Maine, or assisting existing Maine companies in new biobased projects.

MTI anticipates disbursing approximately $20-25 million in challenge grants during the Fall 2017 Lightning Rounds, but reserves the right to award more or less, depending on the quality and quantity of requests.