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Maine Technology Institute - Innovation Funding

Maine Technology Institute - Innovation Funding

Maine Technology Institute
LOCATION & INDUSTRIES
AMOUNT

Between $10,000 and $250,000

OWNERSHIP REQUIREMENTS
DEADLINE

Rolling

ABOUT THE GRANT

The MTI Innovation Funding program fuels groundbreaking ideas with grants, loans, and equity investments. Our seasoned team backs scalable businesses that drive Maine’s growth and diversify our industries. Funding amounts range from $10,000 to $250,000 depending on eligibility.

This program helps cover initial research, prototype development, and commercialization expenses. MTI prioritizes awarding funds to companies in the following sectors: biotechnology, aquaculture & marine technology, composite materials, environmental technologies, advanced forestry/agriculture technologies, manufacturing, and information technology.

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NOTES

Note: this is a flexible funding program which does not have rigid application and award criteria. This can be a benefit to your business, but there is potential that awards may come in the form of loans or equity investments, rather than grants.

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Other Grants

Southside Pitch Competition
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The South Side Pitch is an annual Shark Tank-style pitch competition that awards over $40,000 in total cash prizes to small business owners on the South Side of Chicago. Hosted by the Institute for Justice (IJ) Clinic on Entrepreneurship at the University of Chicago Law School (a nonprofit clinic that provides free legal assistance, resources, and advocacy for underserved Chicago-area entrepreneurs), the competition is now in its 12th year and has awarded more than $291,000 to over 1,300 South Side businesses since launching. Each year, over 100 applicants compete for one of five finalist spots, and all five finalists are guaranteed a cash prize at the end of the live event. The prize structure includes a $15,000 first place award, $10,000 for second place, $6,000 for third place, $3,000 for fourth place, and $1,500 for fifth place. Additional cash awards include the Audience Favorite Award ($1,500 for the finalist who receives the highest audience score), the South Side Sensation Award ($3,000 for the finalist who demonstrates exemplary social impact and showmanship), and the Rustandy Center Social Impact Award ($2,500 for a finalist selected by staff from the Rustandy Center for Social Sector Innovation at the University of Chicago Booth School of Business). Applicants apply during an open window each summer, with semifinalists selected from the applicant pool and asked to submit a video pitch. The public votes on the semifinalist videos to determine the People's Choice, who receives a guaranteed spot to compete in the final live event alongside the other finalists selected by IJ. Finalists receive pitch coaching from the IJ Clinic and pitching experts before delivering their pitches live to a citywide audience and a panel of judges at the Polsky Exchange North on the University of Chicago campus.

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