MTI seeks applications for $2M in innovation funding

The Maine Technology Institute is seeking applications for $2 million in funding from organizations looking to make investments in R&D equipment, infrastructure and technology that will drive innovation and generate economic benefits for the state.

Individual funding requests are capped at $500,000 or less from the Maine Technology Asset Fund 2.5 program.

Fund recipients in 2018 included Hyperlite Mountain Gear of Biddeford and Ohio-based paper maker Verso (NYSE: VRS). Hyperlite used its award of $177,640 to help purchase a CNC cutting machine and automated sewing machines, while Verso applied its $4 million award toward upgrading and converting equipment at its mill in Jay to enter the high-demand containerboard market. That allowed Verso to double production and add 120 new jobs at the facility, which it recently sold. Read more

Related Posts

On the Record: Roux Institute’s Lars Perkins helps startups take off

Lars Perkins, a former software entrepreneur, Google executive and certified flight instructor who once flew planes for lifesaving “adventure philanthropy,” is managing...

28 November 2022

UNE to begin building new medical school at Portland campus

The University of New England is about to start a $93 million project to move the state’s only medical school from...

28 November 2022

Portland Planning Board recommends zoning changes for Roux Institute redevelopment

The Portland Planning Board is recommending that the city adopt zoning changes requested by the developers of a new graduate school...

22 November 2022