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The Maine Technology Institute (MTI) is a state-funded nonprofit that offers early-stage capital and commercialization assistance for the research and development of innovative technology-based projects that create new products, processes and services generating high-quality jobs across Maine. MTI focuses on the following targeted sectors: Advanced Technologies for forestry & Agriculture; Aquaculture and Marine Technology; Biotechnology; Composite Materials Technology; Environmental Technology; Information Technology and Precision Manufacturing Technology. Since its founding, MTI has distributed $280 million via a variety of programs to nearly 2,950 projects throughout the State of Maine. The Maine Technology Asset Fund (MTAF) program, funded by a $45 million bond and distributed in 2018, will generate 5,350 jobs over the next 3 years and nearly $1.4 billion in economic impact. As funding requests grow, there are additional expectations in each category. For example, for a funding request of less than $25,000, MTI's would expect your Team Ability's to include key skills and the ability to produce a low fidelity prototype or pilot program. For larger funding requests, MTI would expect your team's size and knowledge to have grown to include an understanding of how the market operates, the value chain and corporate governance. Also offered are MTI's sponsorship support which ranges from $1,000-$5,000 per event. MTI also developed the Maine Entrepreneurial Resource Corps (MERC), particularly in order to facilitate short-term projects between vetted consultants and eligible Maine businesses, or "clients."
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