Maine Technology Institute opens fourth round of technology funding

Maine Technology Institute (MTI), established by the Maine State Legislature in 1999, promotes and stimulates research and development throughout Maine. Funding from MTI generates additional, much-needed monies for companies working to bring new products and services to Maine’s technology industry. Since 2000 alone, MTI has funded over 1,200 technology projects. MTI invested $106 million toward those projects, resulting in an additional $173 million in funding. On Nov. 22, 2014, MTI announced that a fourth round of funds is available from the Maine Technology Asset Fund (MTAF). This fund is an award program in which competitors vie for monies from MTI. The MTAF itself is financed from Maine State bond proceeds that voters put into effect in 2007 and 2010. The current round of available monies is expected to total up to $3.3 million, which could generate up to 14 times more technology funding throughout the state. Continue reading “Maine Technology Institute opens fourth round of technology funding”