Meeting with the Maine Technology Institute
Jacques and Ethan headed to Gardiner last Friday to meet with the good folks at the Maine Technology Institute (MTI). If you’re not familiar with MTI, you should check out their website @ www.mainetechnology.org.
To paraphrase from the MTI website:
MTI was established in 1999 by the Maine Legislature as an industry-led, publicly-funded, nonprofit corporation offering early-stage capital and commercialization assistance in the form of competitive grants, loans and equity investment for the research, development and application of technologies that create new products, processes and services, generating high-quality jobs across Maine. Every $1 of MTI funds received generates an additional $14 in non-MTI funding. MTI funded companies say that MTI funding has been critical to their commercial success. Since 2000, MTI has funded 1,295 technology projects in Maine, a financial commitment of $106 million that has leveraged over $173 million in additional funding for a total of $280 million.
We’ve always been excited by MTI’s Seed Grants, Development Awards and the now-closed Maine Technology Asset Fund and have worked on a number of applications. So we were thrilled by the opportunity to meet some members of the MTI team face-to-face after trading e-mails, phone calls and LinkedIn profiles in the past. They are committed to supporting Maine companies with good, innovative and marketable ideas at all phases of the development cycle whether an inventor in her garage, a research department at a publicly traded multinational or every level in between.
Opus looks forward to a long and productive relationship with MTI.