Liabilities / Assets
90th percentile
Higher debt load relative to assets than 90% of similar nonprofits.
EIN 01-0529871 • 501(c)3 • Portland, ME
Profile
The Institute, through a public and private partnership, shall encourage, promote, stimulate and support research and development activity leading to the commercialization of new products and services in Maine's technology-intensive industrial sectors to enhance the competitive position of those sectors and increase the likelihood that one or more of the sectors will support clusters of industrial activity and to create new jobs for Maine people. The Institute is one element of Maine's economic development strategy and will contribute to the long-term development of a statewide research, development and product deployment infrastructure.
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
90th percentile
Higher debt load relative to assets than 90% of similar nonprofits.
Liabilities / Revenue
67th percentile
Higher debt load relative to revenue than 67% of similar nonprofits.
Net Margin
42nd percentile
Higher net margin than 42% of similar nonprofits.
Top Officer Pay
Score unavailable
No filing with officer rows is available for this organization yet.
Asset Growth
73rd percentile
Faster asset growth than 73% of similar nonprofits.
Revenue Growth
95th percentile
Faster revenue growth than 95% of similar nonprofits.
Assets
Up$29,202,613
Up $6,902,108 (+31%) from 2023
Liabilities
Up$26,130,696
Up $6,393,653 (+32%) from 2023
Net Assets
Up$3,071,917
Up $508,455 (+20%) from 2023
Revenue
Down$22,492,763
Down $13,665,687 (-38%) from 2023
Expenses
Down$21,984,308
Down $13,514,340 (-38%) from 2023
Net Income
Down$508,455
Down $151,347 (-23%) from 2023
Most recent year
2024 • Form 990Detailed filing. Detailed filing data is available for this year.
The Institute, through a public and private partnership, shall encourage, promote, stimulate and support research and development activity leading to the commercialization of new products and services in Maine's technology-intensive industrial sectors to enhance the competitive position of those sectors and increase the likelihood that one or more of the sectors will support clusters of industrial activity and to create new jobs for Maine people. The Institute is one element of Maine's economic development strategy and will contribute to the long-term development of a statewide research, development and product deployment infrastructure.
Provides funding to subrecipients in the State of Maine.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Savings and Temporary Cash Investments | $10,649,700 | $16,214,271 | ▲ $5,564,571 |
| Other Notes and Loans Receivable, Net | $6,236,805 | $7,524,604 | ▲ $1,287,799 |
| Investments Other Securities | $4,009,600 | $4,557,443 | ▲ $547,843 |
| Cash and Non-Interest-Bearing Accounts | $58,703 | $481,093 | ▲ $422,390 |
| Intangible Assets | $267,621 | $183,532 | ▼ $84,089 |
| Prepaid Expenses and Deferred Charges | $163,759 | $169,872 | ▲ $6,113 |
| Accounts Receivable | $884,367 | $50,794 | ▼ $833,573 |
| Land, Buildings, and Equipment, Net | $29,950 | $21,004 | ▼ $8,946 |
| Total Assets | $22,300,505 | $29,202,613 | ▲ $6,902,108 |
| Liabilities | |||
| Deferred Revenue | $19,277,177 | $25,722,429 | ▲ $6,445,252 |
| Accounts Payable and Accrued Expenses | $190,203 | $219,149 | ▲ $28,946 |
| Other Liabilities | $269,663 | $189,118 | ▼ $80,545 |
| Total Liabilities | $19,737,043 | $26,130,696 | ▲ $6,393,653 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $2,563,462 | $3,071,917 | ▲ $508,455 |
| Total Net Assets Fund Balance | $2,563,462 | $3,071,917 | ▲ $508,455 |
| Total Liabilities and Net Assets / Fund Balance | $22,300,505 | $29,202,613 | ▲ $6,902,108 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $20,682 | $111,898 | $132,580 |
| Other Land Buildings | $0 | $125,995 | $125,995 |
| Leasehold Improvements | $322 | $39,548 | $39,870 |
| Closely Held Equity Interests | $4,557,443 | - | - |
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Gregory N Lee | Director of Finance & Administration | FT | $115,233 | $17,601 | $132,834 |
| Name | Title |
|---|---|
| Melissa LaCasse | Chair |
| Brian Whitney | President |
| Dan Belyea | Director |
| Heather Johnson | Director |
| Ian Swanberg | Director |
| Jed Beach | Director |
| Meredith Mendelson | Director |
| Michael Cassata | Director |
| Rob Pierson | Director |
| Susan Tapley | Director |
| John Pavan | Past Director |
| Jake Ward | Secretary |
| Amberlynn Esperanza | Treasurer |
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Merrit Carey | Marketing Services | 132 Pleasant St, Yarmouth, ME 04096 | $124,197 |
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $17,767,306 |
| Other Expenses | $2,880,426 |
| Salaries, Compensation, and Employee Benefits | $1,336,576 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $17,023,158 | - | - | $17,023,158 |
| Other Salaries and Wages | $795,228 | $112,382 | - | $907,610 |
| Grants to Domestic Individuals | $744,148 | - | - | $744,148 |
| Advertising | $494,262 | $139,105 | - | $633,367 |
| Fees for Services Management | $202,342 | $132,508 | - | $334,850 |
| Other Expenses | $142,061 | $117,004 | - | $259,065 |
| Fees for Services Other | - | $242,244 | - | $242,244 |
| Other Employee Benefits | $149,369 | $28,463 | - | $177,832 |
| Current Officers, Directors, Trustees, and Key Employees | $26,567 | $106,267 | - | $132,834 |
| Occupancy | - | $80,450 | - | $80,450 |
| Information Technology | - | $78,862 | - | $78,862 |
| Fees for Services Legal | $57,109 | $15,475 | - | $72,584 |
| Payroll Taxes | $51,471 | $20,016 | - | $71,487 |
| Pension Plan Contributions | $40,908 | $5,905 | - | $46,813 |
| Fees for Services Accounting | - | $41,850 | - | $41,850 |
| Insurance | - | $23,587 | - | $23,587 |
| Office Expenses | - | $13,370 | - | $13,370 |
| Depreciation Depletion | - | $12,534 | - | $12,534 |
| Travel | - | $6,300 | - | $6,300 |
| Conferences and Meetings | - | $504 | - | $504 |
| Interest | - | $6 | - | $6 |
| Total Functional Expenses | $20,757,125 | $1,227,183 | $0 | $21,984,308 |
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| KinoTek LLC | Portland, ME | - | Kinotek is a B2B SaaS platform that uses AI-driven technology deliver fast, objective human movement metrics. It is a disruptor in the $420 billion musculoskeletal health market where clinicians currently rely on a plastic ruler to measure range-of-motion and mobility. Since FDA registration and market launch in August 2022, sales have reached $245k ARR across 31 states. Kinotek is seeking funding $2M in funding to accelerate sales to $1M ARR and Series A. MVF has already committed to matching up to $1M, so our actual raise is $1M via Convertible Note at a 20% discount, $18M cap, and 8% interest. | $1,000,000 |
| RockStep Solutions Inc | Portland, ME | - | RockStep develops and delivers SaaS solutions for managing data and operations for drug discovery and life sciences research. The company seeks $1M in equity investment from MTI to accelerate sales revenue growth through. | $1,000,000 |
| Go Lab Inc | Belfast, ME | - | Capital Support for First U.S. Wood Fiber Insulation Plant, GO Lab, Inc. Madison, Maine. | $990,000 |
| Tanbark Molded Fiber Products | Saco, ME | - | Hybrid Molded Fiber clamshell pilot project, Tanbark Medical Materials Market, Debt Financing to purchase equipment to increase capacity by 200% | $984,215 |
| Whole Trees LLC | Madison, WI | - | Partnering to Repurpose and Reopen: Bringing innovative inventory systems, sales strategy and production processes to existing Maine facility to meet proven East Coast demand for the Original Mass Timber. | $725,000 |
| Maine Plywood USA | Bingham, ME | - | Maine Plywood is building the only plywood mill in North America to manufacture Plywood underlayment. It will also be the ONLY plywood mill in New England. This plant is being built to replace the Multiply plywood plant that burnt down. | $559,215 |
| Roux Institute | Boston, MA | - | The goal of the proposed BioIN Incubator and BioPILOT Lab initiatives is to create a pilot incubator and prototyping space for life science companies. Our hypothesis is that leases for turnkey wet lab space and access to capital equipment and scientific experts will facilitate success and growth of startup companies, leading to job and revenue growth in Maine's burgeoning bioeconomy. | $550,000 |
| Compotech Inc | Brewer, ME | - | Compotech has developed the next generation of expeditionary and modular military shelters. MINATORS can be assembled by a small group of soldiers, providing the comforts of a permanent shelter with the mobility and modularity of a temporary shelter. Compotech is seeking funding for MINATORS manufacturing equipment. | $500,000 |
| Fork Food Lab | South Portland, ME | - | Fork Food Lab 2.0 | $500,000 |
| Good Shepherd Food Bank | Auburn, ME | - | Investing in Maine's first at scale green vegetable processing supply chain. | $500,000 |
| JL Rich Timber Harvesting LLC | Hodgdon, ME | - | New Cut to Length Operation | $500,000 |
| North Spore LLC | Portland, ME | - | We are seeking funding to further expand our digital marketing and sales team, as well as create a human resources department. We are in a rapid growth and hiring phase as we begin to take advantage of our new manufacturing facility and scale up our successful, innovative products. These investments will ensure more continued growth, create a number of well-paid and specialized jobs, and contribute to the personnel infrastructure we need to stay on our trajectory and fully support our growing revenues, brand and team. | $500,000 |
| ND Evergreen LLC | Old Town, ME | - | ND Paper Rumford Division PM15 Rebuild | $495,000 |
| Robbins Lumber East Baldwin LLC | Searsmont, ME | - | Better Utilization of the Eastern White Pine Resource through Implementation of Value-based Scanning | $495,000 |
| Shucks Maine Lobster LLC | West Gardiner, ME | - | Shucks Maine Lobster has become an internationally award winning Maine Lobster processor of innovative value-added products utilizing state of the art HPP technology. We currently have 60 employees in a 26,000 SF facility. Shucks is on the verge of significant growth with immediate plans to expand into a new state of the art Gorham facility; dramatically increase its product line; add 20 new jobs; and sign new agreements with two major players in the Maine Lobster industry. This growth is based on the purchase of a new state of the art HPP machine that will increase production by 50%. | $400,000 |
| Biofine Developments Northeast Inc | Portland, ME | 501(c)(3) | Biofine Developments Northeast (BDNE) owns a proprietary technology that enables the economic conversion of waste ligno/cellulosic feedstocks into third-party verified co2 negative bioproducts. Currently, BDNE is working to finance an industrial biorefinery in Lincoln, ME (BMP-1) and requests MTI's assistance, via a $400k loan, to finalize required pre-development work stream. Each pre-development work stream culminates in a deliverable required by BMP-1's prospective investors. The $400k MTI loan is the final remaining capital required of the $1.66 million dollar budget to finalize the deliverables required to close on financing for BMP-1. | $339,148 |
| Our People Inc | Portland, ME | - | OurPeople.com provides employee communications and operations software to the hourly workforce in businesses of all sizes across the US and the UK. | $300,000 |
| Pumpspotting Inc | Eliot, ME | - | Pumpspotting is making the world more inclusive for feeding families. Our tech-enabled solution helps companies provide baby-feeding support to their employees, customers, patients, and guests. We are raising our Series Seed2 Round to support our growing enterprise customers and build out technology to expand into the healthcare market. | $253,000 |
| bluShift Aerospace Inc | Brunswick, ME | - | bluShift seeks funding of its Seed round to realize FAA licensing of its launch vehicle, future Maine launch site, construction of its suborbital rocket Starless Rogue and achieving a successful launch with paying customer experiments, from students from schools within Maine and across the United States. | $253,000 |
| Northeastern University | Boston, MA | - | Roux Institute Venture Creation & Acceleration Platform is a set of robust, venture creation and acceleration programs designed to position Maine as the most exciting place to start a high-growth venture focused on Advanced Life Sciences, Artificial Intelligence, Data and Computer Science, Sustainability, and The Modernization of Natural Resources. Two key components of this program are our 13 week accelerator program and our year long startup residency. | $250,000 |
| ProsperityME | Portland, ME | - | Individual Development Account Program | $250,000 |
| University of Maine | Orono, ME | - | The university of Maine has a variety of activities that are funded by MTI | $239,128 |
| Turning Acquisitions LLC | Buckfield, ME | - | Expand WWTF's Reach with New Products and New Technology | $230,000 |
| Gulf of Maine Research Institute | Portland, ME | - | The goal of the summit is to bring together blue economy start-up founders, investors, and resource providers to discuss emerging investment trends, acquisition activity, showcase promising blue economy startups and early-stage companies, and highlight the programs that are supporting the growth of the sector within Maine and beyond. We held our first event earlier this year, you can view the agenda here, and are very excited to bring the program to Maine as a partnership between Blue Venture Forum (out of Rhode Island) and GMRI/Gulf of Maine Ventures. We hope that this may end up being a regular event. | $220,000 |
| ReEnergy Biomass Maine LLC | Albany, NY | - | Biochar Production | $216,216 |
| Kennebec Lumber Co | Solon, ME | - | Flooring Mill Technology Upgrade | $202,000 |
| Island Institute | Rockland, ME | - | Sea Change: Electric Propulsion for Maine's Working Waterfronts | $200,000 |
| Downeast Institute for Applied Research | Beals, ME | - | This project will support a collaborative effort of 3 hatcheries, NOAA's Milford Lab and others working to develop consistently successful hatchery methods to raise sea scallops. This innovation is needed to enable sea scallop aquaculture in Maine to reach a scale of significance to Maine's economy, allowing farms to create secure jobs and raise capital. The current practice of capturing spat from the wild to grow out on farms will limit the growth and success of this emerging aquaculture opportunity. Our innovation will result in at least one commercial scallop hatchery in Maine that can serve the needs of the industry and help support future growth. | $162,895 |
| Croft L3C Croft Group | Rockland, ME | - | Croft manufactures high performance wall, floor, and roof panels for all building types with a focus on speed, quality, and sustainability. Our buildings utilize local straw and timber as primary construction materials, both carbon-storing materials which sequester carbon at levels unmatched by any other building system in the United States. Additionally we construct our panels with a proprietary compression system that produces exceptionally high building performance in a fraction of the time it takes with conventional methods. We are seeking additional resources from MTI in order to support our growth, which includes further development of our proprietary compression system, expansion into a new factory space, and growing the team. | $150,000 |
| Entrepreneurship for All | Lowell, MA | - | EforAll Maine: Expanding inclusive entrepreneurship | $150,000 |
| Acadian Composite Materials | Woolwich, ME | 501(c)(3) | Acadian Composite Materials disrupts the construction industry by creating a long-lasting and high performance structural insulated panel ("SIP") from recycled single-use beverage bottles. EcoSIP fabricates SIPs through its proprietary composite technology process. EcoSIP is a cost-effective alternative to typical "stick frame" building shells, with a lower cost of materials and construction time. EcoSIP also provides superior performance in terms of insulation value and ultimately energy savings. Furthermore, EcoSIP is completely made in Aroostook County, expanding the product line of an existing business. EcoSIP will help make Maine a leader in green building technology. | $140,000 |
| UpStart Maine Inc | Orono, ME | - | Strengthening the Bangor Region's Agri-Food Tech Entrepreneurial Ecosystem | $136,500 |
| Ocean's Balance | S Portland, ME | - | We operate an innovative seaweed dehydrator for use in processing harvested seaweed by both our own company and by other seaweed farms. Ours is an in-demand, differentiated solution to the aquaculture industry-wide roadblocks related to processing very large volumes of farmed kelp during a short harvest season. With additional technology and support from MTI, we will be able to further automate and make efficient this important process that addresses a major untapped commercial opportunity that Maine is ideally positioned to capture. Our solution is different from current alternatives because our dehydrator is energy efficient, low temperature, and automated and allows for processing high volumes of seaweed in a short amount of time. There is also an integrated milling system that allows for the kelp to be milled to any particle size after dehydrating, which is a requirement by virtually all buyers. | $135,714 |
| Our Katahdin | Millinocket, ME | - | Our Katahdin is pioneering a new model for rural industrial parks by transforming its 1,400-acre former mill site in Millinocket into a 21st century industrial park that is (a) community-owned, (b) focused on the future of bio-based and digital economies and (c) powered by renewable energies. | $128,829 |
| Greater Portland Immigrant Welcome Center | Portland, ME | - | Maine Immigrant Business Accelerator | $105,500 |
| ALM Ortho Inc | Scarborough, ME | 501(c)(3) | ALM Ortho is a FDA registered orthopedic implant company that produces custom, 3D titanium-printed patient-specific orthopedic implants used for critical medical indications. We have licensed patented technology from U. Maine for implantable osseointegrated devices for amputees that are far superior to the existing FDA approved device (our prevents infections, theirs doesn't). | $100,000 |
| Compounding Solutions LLC | Lewiston, ME | - | Compounding Solutions is a custom thermoplastic compounder designing and supplying cutting-edge material technologies to medical device manufacturers globally. Our plastic compounds are used in existing devices and new devices to improve patient care and often times enable procedures that were previously not possible. We seek supportive funding to aid in the development of our compound additive technologies which reduce thermoplastic coefficient of friction, either by way of hydrophobic or hydrophilic surface interactions. These additive technologies can furthermore provide protection against thrombosis which ultimately provides patient comfort during medical procedures and reduces the risk of infections. Compounding Solutions aims to optimize our friction reduction and anti-fouling additive packages per polymer type and bring these material technologies forth to our medical device customers to use in a variety of high value applications. | $100,000 |
| Holy Donut Inc | Arundel, ME | - | Potato Donut Manufacturing | $100,000 |
| Maine Center for Entrepreneurs (V) | Portland, ME | - | MCE is seeking matching funding to support an application to EDA's Build to Scale Program to establish a Maine Bioscience Cluster Initiative to serve Maine's emerging life sciences innovators. MCE will scale our existing Top Gun and Cultivator programs and develop specific curricula to serve biosciences companies from "idea stage" to startup, and through scale-up. MCE will partner with TechPlace and the Union River Center for Innovation to host a Top Gun like accelerator at each location annually. In addition, we will hire a "Bioinnovate Champion" to support, nuture, and educate bioscience researchers and entrepreneurs on taking their innovation from the lab to the market. Finally, MCE will work with established bioscience companies to help them gain marketshare, expand markets, and become more profitable. | $100,000 |
| Maine Small Business Development Center | Portland, ME | - | MTI will provide MSBDC with funding in the amount of $100,000 to be paid in two semi-annual installments upon receipt of semi-annual reports to assist the MSBDC in its mission to assist and support Maine's entrepreneurs and small business owners, especially in the technology clusters. | $100,000 |
| Senscio Systems Inc | Harvard, MA | - | Senscio is the leading remote Chronic Health Management company, serving members with complex chronic health conditions. Leveraging Medicare billing codes, Senscio provides chronic care management and remote patient monitoring services through managed and partnered medical practices. | $100,000 |
| New England Ocean Cluster LLC | Portland, ME | - | This Innovation Ecosystem application is to support 3 of the 5 projects in New England Ocean Cluster's Transforming the Blue Economy program. This portfolio of projects focuses on advancing and modernizing Maine's ocean focused industries into the value add economy and best practices to grow revenue. These are economic development focused projects that educate and engage entrepreneurs, business leaders and community members while bridging the gap to the research and capacity needed to solve for the unique challenges each new product or company faces when developing something new. | $99,700 |
| Maine Outdoor Brands Inc | Portland, ME | - | Outdoor Industry Cluster Development | $76,910 |
| Dewey Inc | Yarmouth, ME | - | Dewey is a subscription-based SaaS learning platform and program featuring multimedia, multilingual resources in wellbeing and academic achievement for parents and caregivers of school age children. Dewey is looking for Range 3 funding of $75,000 to support the development and implementation of our Summer 2023 deliverables of MathCamp and Fambassador programs. | $75,000 |
| Election Bridge Inc | Portland, ME | - | CIVA is revolutionizing civic engagement by creating a digital bridge between small to medium-sized organizations and governmental processes. Utilizing state-of-the-art AI and geospatial technology, our platform streamlines access to crucial funding opportunities, resources, and policy-making channels. We are seeking both financial investment and strategic advice to scale our successful pilot projects in Maine and Georgia, aiming to expand our reach across New England and the Southeast. Our vision is powered by a strong team with deep expertise in government, organizational development, and technology. Together, we're setting the stage for a more transparent, efficient, and participatory society. | $75,000 |
| Greenlight Maine Fund Inc | North Yarmouth, ME | - | Promote and invest in innovation, entrepreneurship, and growing Maine's economy by promoting businesses in pitch competitions where they are awarded thousands of dollars to scale and create jobs. | $75,000 |
| Parity Healthcare Analytics Inc | Scarborough, ME | - | We created a unique software as a service solution for family birthing centers who need a method for tracking and reporting the acuity based nurse to patient staffing ratios in their units. The funding we seek will provide us the ability to automate reporting and analytics for our customers as well as drive growth through a new website, digital marketing strategies, and additional industry conferences that our target customers attend. | $75,000 |
| Coastal Enterprises Inc | Brunswick, ME | - | CEI Women's Business Center Propeller III and Automate IT | $66,000 |
| Halo Med LLC | Scarborough, ME | - | SimKit needs to target its marketing and advertising to reach our customer base. We want to work with a marketing firm to target physicians through an advertising campaign. | $60,000 |
| Wright Energy Storage Technologies Inc | New York, NY | - | The objective of this project is to collaborate with ME MEP on a multiphase project to develop and implement a quality system, based on the ISO-9000 standard, to enable the growth of WEST from start-up to a fully operational company in support of projected growth, including a focus on Manufacturing (in Maine) and engagement with our external Manufacturing partners (in Maine and elsewhere). This request covers phase 1 which is to create the framework and level one documents. | $59,025 |
| Five Pillars Butchery House of Meat | Unity, ME | - | Culturally Significant Meat Processing in Maine | $55,000 |
| Relax LLC | Pittsfield, ME | - | Relaxx App is innovating in ways that other mindfulness and meditation apps have yet to explore. Our app not only provides valuable resources to individuals seeking to improve their mindfulness journey, but it also offers a unique solution for employers to promote essential mindfulness regarding safety, health, and overall well-being in the workplace. As the first mindfulness app to offer a real business ROI, we're breaking new ground and providing businesses with an innovative way to support their employees' mental, emotional, and jobsite health. | $54,500 |
| Wild Vision Systems | Frankfort, ME | - | We have designed an a smart trapping system that leverages AI and IoT to autonomously identify and capture invasive animals. Invasive animals are decimating ecosystems and agriculture and so far, traditional trapping and monitoring tools have not been able to keep up with this growing problem. Our innovation has been awarded the US Fish and Wildlife Services' Theodore Roosevelt Genius Prize for Innovation in recognition of our potential to provide a novel and scalable solution to this landscape-scale problem. | $50,700 |
| Amply Energy Inc | Cumberland, ME | 501(c)(3) | Amply Energy builds software to help heat pump installers sell better designed heat pump systems faster. Today, heat pump installers need to decide between doing it fast and doing it right. With Amply's software, we eliminate that tradeoff. MTI's funding will help us invest in important improvements to our UX/UI to make it easier and more intuitive to use Amply's software, as well as automating and streamlining more of their fragmented workflow. | $50,000 |
| DeepCharge Inc | Biddeford, ME | - | DeepCharge is a pioneering technology startup that has developed innovative wireless charging solutions. Our breakthrough technology combines wireless power transmission with advanced AI capabilities, enabling intelligent charging and efficient energy management. By leveraging AI algorithms, our wireless charging systems optimize power delivery, adapt to user preferences, and provide real-time monitoring and diagnostics. We are seeking funding from MTI to support the manufacturing of our cutting-edge wireless charging products in Maine, while fostering innovation and creating high-tech job opportunities within the state. With MTI's support, we aim to accelerate the adoption of AI-driven wireless charging technology, revolutionizing how devices are powered and enhancing the user experience. | $50,000 |
| Diggables Inc | Yarmouth, ME | - | Our company launched a buckwheat-based snack ("Diggables") in June 2023. We have seen strong consumer interest locally, and we are already in 60 retail stores in less than 2 months. We will continue to build out our local sales, but the next phase of our development will be to build distribution and sales networks that extend into the Boston and New York metropolitan region and surrounding communities. We are hoping that Barry Wilfand - a MERC consultant - can help us build these distribution and sales networks and related marketing efforts. A more detailed scope of work will be submitted separately. | $50,000 |
| Hound Bio Inc | Brunswick, ME | - | The field of mRNA therapeutics is limited by the fact that mRNA is inherently unstable. Traditional mRNA formats have a half life of minutes to a few hours depending on the test conditions. Hound Bio is going to explore mRNA formats that have extended stability with the potential to extend mRNA half-life to a day or more. This is a crucial step in the development of Hound Bio's cellular therapy for the treatment of canine cancer. | $50,000 |
| JRKT Inc | Old Orchard Beach, ME | - | We sell a personalized, a.i. powered career advisor to companies of around 100 employees and more. The problem they have is a lack of scalable solutions to solve employee engagement and retention issues, and we are addressing that with breakthroughs in artificial intelligence and automation. Our solution is different from current alternatives because it leverages large language models to make for a superior end user experience. | $50,000 |
| Maine Laboratories LLC | Norridgewock, ME | - | Maine Laboratories is a startup analytical testing facility that strictly focuses on per-and polyfluoroalkyl substances (PFAS) testing and sample collection. Maine Laboratories is excited to build a Biotechnology company in the middle of central Maine. We believe providing stable jobs in the sciences working on the PFAS problem that is affecting so many Maine residents will encourage younger people to remain and pursue careers in the state of Maine, particularly central Maine. This grant application if for 50k in funding to support our office space expansion. Once complete, we will move our Lab Tech office space out of our primary lab space, opening up room to double our equipment. Doubling our equipment allows Maine Laboratories to scale up in sample volume, provides security against system maintenance or downtime, and provides capacity to develop additional methods and sampling techniques without affecting our turn around time commitment. | $50,000 |
| Nearpeer Inc | Portland, ME | - | This is an application for MTI to participate in our current bridge investment opportunity to accelerate Nearpeer's growth. | $50,000 |
| Peaks Renewables Inc | Centennial, CO | - | Peaks Renewables, Inc. ("Peaks"), a subsidiary of Summit Utilities, Inc. ("Summit"), is planning to construct an anaerobic digestion facility in Clinton, ME. Peaks intends to develop, build, and operate the anaerobic digestion facility, collecting and processing dairy cow into renewable natural gas ("RNG"). Dairy farms typically manage manure by storing it year-round in large open-air lagoons, accessing it when needed to spread on fields as fertilizer. In these lagoons, the manure decomposes, creating harmful greenhouse gases (GHGs) such as methane and carbon dioxide. Unless captured, these gases enter the atmosphere. Peaks anticipates that the digester facility will prevent the release of thousands of metric tons of carbon dioxide equivalents annually. This project is consistent with the goals of Maine's Climate Action Plan. Capturing emissions from dairy cow manure and using it as renewable energy contributes to the achievement of Maine's climate goals and agricultural goals. | $50,000 |
| PragmaClin Research US Inc | Portland, ME | - | PragmaClin has developed PRIMS, a digital tool for assessing, analyzing and rating Parkinson's disease progression. PRIMS uses depth cameras to capture movement data and surveys to capture patient-reported data. All data is analyzed and scored using machine learning software. We need to gather user and payer feedback on the potential uptake of PRIMS in the market, determine what reimbursement codes the system will fall under, and develop a reimbursement strategy for the US market. We will hire a consultant to deliver these services. We will also travel to Indianapolis to attend a health conference to demo the solution, present PRIMS to users and payers, and enter a pitch competition. | $50,000 |
| ReVert Technologies Inc | Brunswick, ME | - | ReVert engineers, designs, programs, and manufactures IoT power adapters that are managed by an AI to automatically turn unused and underutilized appliances off and on, saving energy and reducing carbon emissions for people, businesses, and our planet. | $50,000 |
| Service Corps of Retired Executives Association | Portland, ME | - | Mou 2022-2024 | $50,000 |
| Spreading Good Inc | Yarmouth, ME | - | Harvest Maine makes healthy snacks from farm seconds and agricultural by-products, thereby generating greater profitability for Maine farms and helping reduce some of the food waste that is so prevalent throughout the food system. We seek a $50k grant from MTI to help our young business scale to a size that makes our business model profitable and supports our growth into multiple lines of healthy snacks that create a viable secondary market for agricultural products that are underutilized or going to waste. | $50,000 |
| St Germain | Westbrook, ME | - | Updating existing Sentry EHS software to new architecture, because current architecture is becoming obsolete. Sentry EHS helps our clients achieve and maintain compliance with EHS regulations. | $50,000 |
| Leisure Group Tech | Portland, ME | - | Our Leisure Group Tech software is designed to allow you to plan and coordinate events of all types and sizes. Our software is designed to streamline the event planning process. Our software is user-friendly, efficient, and customizable, providing a seamless experience for all users. With our software, you can focus on delivering exceptional travel and event experiences for your clients while we take care of the administrative tasks. We are committed to making our software available to everyone include those located in rural areas and from the the BIPOC communities interested in starting local businesses from home. I am seeking MTI funding to help us with the redevelopment of our software to multi tenant software for commercialization so we can offer software as a service (SaaS) to the millions of other event professionals around the World. | $45,000 |
| Codeweaving Inc | Dresden, ME | - | We would like to incorporate a subsidiary business called "SlicPix" to operate in the e-commerce segment. This will give us the possibility to create an exit strategy specific for this segment as well as have the ability to use our patented technology in our other market segments. | $34,965 |
| Sustainable Sea Products | Portland, ME | - | Sustainable Sea Products (SSP) is a Maine-based company that specializes in creating environmentally friendly molded fiber packaging and paper products made from locally sourced seaweed and kelp. Our mission is to support local industries and communities while reducing the environmental impact of traditional packaging and paper production. Our primary goals include developing a sustainable line of molded fiber packaging and paper products, expanding our market reach, and contributing positively to the environment and local economies. In order to do so, we are seeking funding for the research and development of our products and patenting our idea. | $33,000 |
| EmTech Care Labs Inc | Portland, ME | - | Marketing support for the product: 1. Develop consumer friendly messaging for the product. 2. Create digital assets including flyers, product teaser/explainer videos, etc. for both the website as well as social media campaigns. 3. Update the company website. 4. Manage social media calendar, including newsletters, community development, etc. (this can be go beyond the project timeframe, so optional for this project). | $30,825 |
| Health For Mankind | Portland, ME | - | Diabimetrics aims to transform diabetes management for minority communities by bridging accessibility and affordability gaps. Our success vision includes reducing diabetes-related complications, establishing market leadership, and serving as an educational and community-building tool. Continuously innovating, we aim to stay ahead in tech and medical advancements, with aspirations to expand our platform to manage other chronic conditions, ultimately enhancing the overall health of minority populations. | $30,000 |
| Radiolife Co | Wilmington, DE | - | Radiolife is developing its flagship medical device, Cube Scan, to sell to healthcare providers and diagnostic laboratories. The problem with current diagnostic technology and systems is that they are expensive and slow they rely on reagents, which are expensive and require a biochemical reaction to occur to analyze each sample such as in an RT-PCR diagnostic test. Radiolife seeks funding to continue developing Cube Scan to address this problem by using radiofrequency signatures identified in patient samples combined with AI modeling and deliver accurate and cost-effective diagnostic test results in under 20 seconds without reagents. Our solution is different from current alternatives because it's smaller, cheaper, faster, and has the potential to be non-invasive. Additionally, Radiolife's innovation can be deployed in a variety of settings, including point-of-care and low-resource environments, making it versatile and adaptive to different customer and community needs. | $30,000 |
| RMT Tech LLC | Portland, ME | - | ReachMyTeach, developed by a student-teacher team in Maine, reduces accessibility barriers in school-home communications and supports reaching all families through email, text, WhatsApp and more, with seamless two-way translation in over 130 languages. ReachMyTeach also offers access to live on-demand interpreters through video calls and district-wide alerts in one convenient platform. | $25,768 |
| Alivo Inc | South Portland, ME | 501(c)(3) | Our project encompasses 3 main goals: 1) to validate our the value proposition of the product, 2) to create and execute a go-to-market strategy, and 3) to understand the regulatory environment and put up the necessary safeguards to protect the company. | $25,000 |
| Apriqot Inc | Scarborough, ME | 501(c)(3) | Our technology is a platform, constructed with a highly detailed model of the local community, offers unique advantages. It integrates local-level data, operates as a data frame for small-area estimates, produces estimates at any shape or scale, and ensures data security through its synthetic model. The platform's ability to provide customized local data enables more timely and informed decision-making. | $25,000 |
| Atlantic Cookie Company LLC | Scarborough, ME | 501(c)(3) | Atlantic Cookie Company was founded in 2011. Our cookie the "Shuckie" was modeled after the Chinese Fortune Cookie; we feel there are missed opportunities in the seafood industry from restaurants, hotels and hospitality venues, weddings and cruise lines that the fortune cookie doesn't target. Our cookie is similar to a scallop that is hinged with a "Quotie" inside. You "Shuck It, Read It, Eat It, Love It!". The quoties can be customized to brand market. We are seeking an MTI Range 2 grant along with $49,000 from CEI for engineering, logistics (ERP and CRM) system, e-commerce website, and marketing strategy. | $25,000 |
| DealPoint Corporation | Kittery, ME | - | DealPoint Corporation, a Maine corporation founded in 2022, developed DEALPOINT as an advanced messaging platform which allows merchants, primarily small and mid-size businesses, to connect with customers utilizing geo-targeting and data management solutions. Merchants are in complete control of their messaging and how to distribute offers to customers. | $25,000 |
| Efficient Surgical Apps Inc | South Portland, ME | - | JotLogs' innovation is a unique software-as-a-service product that optimizes clinical documentation using advanced machine learning. Our user-friendly platform allows healthcare providers to reduce time spent on paperwork and focus more on patient care. By offering insightful data visualization tools and ensuring data security with robust protocols, we enhance both efficiency and trust in our service. As we continue to refine and expand our services, we are seeking both funding and strategic business advice. Financial support will accelerate product development, market expansion, and support ongoing research. In addition, we're interested in gaining insights from seasoned experts in healthcare and tech sectors to ensure our product's continued relevance and competitive edge. | $25,000 |
| Environmental & Energy Technology Council of Maine | Portland, ME | - | The Maine Technology Institute (MTI) and the Environmental and Energy Technology Council of Maine (E2Tech) share common goals, including the development of a diverse and talented cohort of subject matter experts within MTI's Environmental Technology Board, more quality MTI deal now within the sector, and the encouragement and support of individual entrepreneurs and businesses within the State of Maine toward sustainable economic growth. The purpose of this agreement is to specify the services and support to be exchanged between MTI and E2Tech, in exchange for funding from MTI in the amount of $25,000 to E2Tcch. | $25,000 |
| Gel Hydration Technologies Inc | Bangor, ME | - | Gel Hydration Technologies Inc., is a ME based biotech manufacturing company in Bangor, ME. Our goal is to manufacture edible gel products for animals and address hydration issues for animals on the go. The MTI award of 25k will be used to get our factory operational and being to pay our employees. | $25,000 |
| JuryDat LLC | Portland, ME | - | JuryDat is a software platform (I'm the founder/creator/operator) which houses juror data more specifically the likely political views on about 140 hit button issues. Public data which is very costly to an individual attorney for an individual case and difficult to get their hands on. The software has a voir dire component which allows for note taking on a juror live in court, rating, ranking, color coding the jury pool. The data exposes underlying bias' of jurors allowing the attorney to select the most unbiased jury possible. JuryDat gives the gift of time and information. It has been used successfully in numerous civil and criminal cases. I need funding to keep data updated (need to purchase new data yearly as the likely views change and need to update software and features. | $25,000 |
| Kennebunk Counseling LLC | Kennebunk, ME | - | Balanced Card Sorts offers simple, upstream solutions that help student and employees clarify, vocalize, and take meaningful action toward their wellness, career, and work-life balance goals, while offering their institution timely data insights to inform programs and interventions. We are seeking a Range 1 grant award. | $25,000 |
| Maine Fly Company | North Yarmouth, ME | - | It is estimated that more than 3 million pairs of waders are purchased annually by fly fishing anglers. The lifespan of waders falls in the 35-year range. Current day waders take centuries to biodegrade. There is no current dedicated product line sold today using locally sewn repurposed waders. Maine Fly Company is in a strong, yet time sensitive position to offer soft good to anglers with positive environmental impacts nationally made from these repurposed waders. | $25,000 |
| Maine Mathematics & Science Alliance | Augusta, ME | - | Maine State Science Fair (MSSF) - We support high school educators year-round in their quest to bring students to MSSF. This event, held each spring, gives students the opportunity to share their STEM passions with peers, judges, and the general public. The 2023 event convened 195 students and their families from 22 schools in 8 counties. 112 volunteers from 54 Maine businesses and institutions served as judges, encouraging students while selecting winners for categories, special awards, and scholarships. The event offered over $775,000 in financial aid to 11th- and 12th-grade participants. Our partner is The Jackson Laboratory, which manages logistics for the event. (Note: dates and participant numbers entered below only reflect this event). | $25,000 |
| Monroe Infrared Technology Inc | Brunswick, ME | - | ADEPT is the proprietary software platform Monroe Infrared Technology developed to deliver meaningful safety and actionable post-inspection data to our utility clients. Electric utility structure inspections entail sUAS (drone) high-resolution visual and/or infrared data collection, professional inspection by experienced licensed journeyman linemen to identify potential faults and issues, client deliverable via secure online dashboard with all pertinent GIS, GPS, FLOC ID Numbers, inspector comments identifying issues & a severity rating, plus links to every accompanying photos. The deliverable can be completely customized to each client's particular needs, including complete estimate of labor required and materials list for identified repair needs to a mobile friendly GIS dashboard for the lineman on the ground. | $25,000 |
| NEC Group | Eliot, ME | - | Our technology streamlines the engineering process and production methods of a low volume sportscar chassis. This allows for our company to quickly design a safe, easily manufacturable structure. By shortening the development process for a baseline chassis, we can better focus on integrating bespoke features onto the vehicle to provide a premium ownership experience for our customers. By receiving funding we will be able to finish our rolling chassis prototype and begin marketing, testing, and pre-production deliverables. | $25,000 |
| New England Karting Challenge | Vassalboro, ME | - | The innovation for which we wish to seek Range I Grant funding is a fully electric powertrain for competition go-karts. Through customer discovery, we have learned that prospective racers are not starting their Motorsports journeys in go-kart racing because they are apprehensive about maintaining a competition gasoline engine, which can be temperamental at best. Developing an electric, zero-maintenance, zero-emissions kart powertrain will help newcomers enter the sport and will serve as an economic engine to the numerous businesses that directly or indirectly support racing activities throughout Maine and New England. | $25,000 |
| Opolis Optics LLC | Venice, CA | - | For the StokedPlastic collection, Opolis founder James Merrill worked with the manufacturing and research labs at the University of Southern Maine to develop a patent-pending blend of recycled Polyethylene Terephthalate (rPET) made from ocean and landfill plastic water bottles. The combination of durability and surface refinement Opolis is achieving with rPET was previously only achieved with virgin plastics. Eventually, this technology will be used to make other durable goods. This work with recycled plastic water bottles is industry-leading and has the opportunity to do a massive amount of good in the world. | $25,000 |
| Pact App Inc | Brunswick, ME | - | Our innovation is Fwego, a SaaS solution for the travel industry that streamlines destination management for travel businesses and their customers. Our platform centralizes communication, booking, coordination, schedules, and payments, freeing valuable time for travel industry professionals to focus on sales and deliver outstanding customer experiences. We seek access to funding to develop our platform further and expand our reach. Additionally, we seek business advice from experienced professionals to help us achieve our goals and maximize our impact. | $25,000 |
| Safely Styled LLC | Bangor, ME | - | Safely Styled, LLC is seeking a $25,000 MTI grant to manufacture the only hair accessories designed to be safe for baby and toddler girls ages 0 to 3 years to place in their mouths as their hair starts to grow. Safely Styled hair accessories are non-toxic and food grade (FDA compliant), washable, reusable, stylish, and most importantly do not present a choking hazard. Safely Styled, LLC has a pending non-provisional utility patent to protect the right to sell these innovative hair accessories across the U.S. Market research demonstrates there is a place and significant desire in the market for hair accessories that are safe to be placed in a child's mouth as they grow, learn, and explore. | $25,000 |
| Saltwater Classroom | Camden, ME | - | To further our goal of creating a global network of learners with lifelong commitment to ocean stewardship, we are designing an online ocean education platform that will connect students to their communities and the natural world through hands-on learning experiences. The accessible nature of our app will reduce financial and geographic barriers to ocean literacy, creating a more diverse network of ocean-focused learners and problem solvers. We are seeking funding to support the creation of our immersive and innovative ocean education app. | $25,000 |
| Selkie | Portland, ME | - | At Selkie, we seek to revolutionize the relationship between consumers and brands. We will establish a seamless bridge that: - Empowers individuals to control and monetize their digital data - Enables brands to build direct relationships with consumers and deliver personalized experiences based on consent-based data | $25,000 |
| Startup Maine Inc | Biddeford, ME | - | See Part IV Supplemental Information | $25,000 |
| Tootie's Tempeh Inc | Biddeford, ME | - | MTI has supported us with 2 previous grants to develop and scale equipment to innovate tempeh fermentation to be plastics-free, a first for commercial tempeh-making in the US. We are now applying for a 3rd innovation grant to automate a key production step in the plastics-free fermentation process: bean panning. With proof of concept already completed, we will work with partners at the Advanced Manufacturing Center (AMC) at UMaine to design, prototype and build a piece of equipment that will reduce production time from 3 to 5 minutes per pan to less than 20 seconds per pan. | $25,000 |
| Visual Access Technology | Freeport, ME | - | The project consists of licensing Advantage Point to high school administrators, students and their families, providing both college selections and career guidance/opportunities for students in their post-secondary life in Maine. In addition, businesses that are providing jobs and training will be offered an opportunity to subscribe to Advantage Point so they can be featured in the students search results and obtain metrics to help evaluate their messaging. | $25,000 |
| WaveWise LLC | Yarmouth, ME | - | We are developing a ocean farming technology that creates a dynamic system for seaweed farms. Our technology would expand locations available to farmers because it protects farms from storms. This device improves nutrient access and decreases UV damage on plants make it grow faster and at a higher premium. We are also developing a software integration that is a user-friendly application designed to streamline farmers' interactions with the system, a secure database server for data management and machine learning and growth sensors to facilitate ocean monitoring and tracking of marine growth. | $25,000 |
| Ocean Data Network Inc | Portland, ME | - | Ocean Data Network's core competency is sub-surface oceanographic data collection in collaboration with the fishing industry which we offer to customers ranging from the Navy to blue economy financiers with a data collection as-a-service model. For this project we are expanding our offering to include surface weather stations that integrate with each fishing vessel's wheelhouse electronics systems giving captains real time temperature, barometric pressure, and wind speed/direction while also recording and sending weather data in real time via satellite internet to forecasters. Feeding this additional data stream into local forecasts will create a safer operating environment for all maritime stakeholders. This is a project we've done the technical development on over the past year and we are confident that we can integrate the technology with fishing vessels along the Maine coast. We are looking for funding to procure the hardware necessary to establish the network. | $24,350 |
| Black Travel Maine | Waterville, ME | - | We need new branding to represent our new mission of inclusivity. Our website needs to be completely redesigned and updated, including SEO, new graphics and a well produced welcome video on our homepage. We would like to refresh our current social media pages with a new layout and some new and updated video content. We also need more social media pages set-up for X, Linkedin, Pinterest, TikTok along a digital marketing strategy. | $20,000 |
| NetGreen Capital LLC | Presque Isle, ME | - | NetGreen Capital LLC operates netgreen.com which is a crowdfunding platform. Netgreen.com helps find investors (both retail and accredited) for farms that utilize sustainable and regenerative agriculture. NetGreen Capital LLC is seeking funding to successfully operate and fund its first 2 investor campaigns for REINE Corporation. | $15,933 |
| ESM Global Products LLC | Portland, ME | - | ESM Global Productions (ESM Global) is developing NKENNE AI, the world's first artificial intelligence (AI) and machine learning (ML) enhanced African language database. Two commercial products will result: a licensed back-end engine to power translation software, and the NKENNE app, an African language self-learning program, available as single or group licenses to individuals and businesses wanting to learn African languages. | $15,000 |
| Home Grown Fuels LLC | Millinocket, ME | - | Home Grown Fuels received a phase 1 award from USDA for PFAS remediation of contaminated soils found on Maine farmland. We are planting hemp and two native grasses in soil with known PFAS contamination and taken from Machias, Presque Isle and Arundel. We are applying our biochar made/sourced by Home Grown Fuels to enhance the phytoremediation capabilities making the plants grow bigger, faster, stronger and thus crating a larger root base to pull more chemicals from the soil. Plants and soil will be shipped to UAlbany to study if chemicals were pulled soil and into the plant. The contaminated plants will be remediated in our gasification system at temperatures that break down the PFAS bonds. The bioremediations circle will be complete. We would like to apply for phase two funding and take our process from the indoor grow house to the farmland and begin working with farmers. | $15,000 |
| SledTRX LLC | Winslow, ME | - | We are looking for individuals with expertise in software development, mobile app development, and database management. By collaborating with talented developers, we aim to improve the functionality, user experience, and scalability of our platform. If you are passionate about snowmobiling and interested in joining a dynamic team, we welcome your assistance in helping us take SledTRX to the next level. | $15,000 |
| Maine Shellfish Technologies LLC | Scarborough, ME | - | We are developing a new version of a lobster meat extractor for lobster processors. This new process is utilizing existing technologies we have developed that will greatly simplify the current process and cut $500K from the cost of the machine making it easier to market and sell. To do this we will be eliminating the vision guided lasers that cut the shell. We will be replacing this technology with parallel gripping cutters that will cut the shell when they enter the meat extractor. The consulting project we are seeking assistance with is re programing the vision guided robot front end of the machine to de-clump and orient product entering the meat extractor. In addition, the meat extractor itself will require reprograming to operate the parallel grippers, new waste shell reject system, and breaker bar. | $14,460 |
| Northern Spent Grains LLC Diggables | Yarmouth, ME | - | Diggables has made strong progress in getting interest from out-of-state retailers and distributors throughout the Northeast for our buckwheat snacks. After the products get on store shelves, it will be important to incentivize shoppers in these new markets to try these new snacks. Since these new retailers will be farther from home, I am hoping that an experienced consultant can help identify and implement a strategy that can't rely on local relationships. Couponing, manufacturer's cash back incentives, and other monetary incentives may be more effective. | $12,150 |
| InnoMetrix Inc | Waldoboro, ME | - | Steve Bailey and Dave Phillips are building InnoMetrix, an Innovation Performance Management software solution, that allows large enterprises to connect the dots between innovation and performance. We are approaching MVP with our solution and are engaging MTI for grant/financial and advisory assistance. There is a growing market for solutions like InnoMetrix and we have pilot project interest from prospects. We are excited to build a Maine-based company that provides career opportunities for Maine people. | $11,750 |
| Maine International Trade Center | Portland, ME | - | Members Supporting Members (MSM) brings Maine's international business community together. Our impact is evident in the success of Maine companies entering and doing business in markets around the globe, which supports Maine jobs and strengthens our economy. Working together helps everyone grow and prosper. | $11,500 |
| Abundance Works LLC | Bar Harbor, ME | 501(c)(3) | The Profit Decoder Masterclass, in collaboration with Maine Center for Entrepreneurs (MCE), is aimed at addressing one of the biggest pain points for innovators and entrepreneurs in Maine's innovation ecosystem - profitability. Understanding profitability is crucial for success, yet it remains a challenge for the vast majority of businesses. This masterclass will give participants the tools and knowledge they need to engage with their financials without complex spreadsheets, math, or accounting. | $10,000 |
| Bioscience Association of Maine | Portland, ME | - | Each year, we offer our members and friends a way to support the life sciences industry in Maine, while simultaneously receiving a broad range of brand exposure. We have updated our annual sponsorship packages to focus on both virtual and in-person events as well as a myriad of educational programs and other benefits. This sponsorship will help us to fulfill our mission, and will promote MTI throughout our community. MTI was also a BioME Annual Sponsor in 2020, 2021, 2022 and 2023. Thank you for helping us to continue delivering value to Maine's growing life sciences industry. We've been reaching out for sponsorships this month - other than MTI, Jackson Laboratory, Roux Institute, FocusMaine, M&T Bank, LGC Clinical Diagnostics, Consigli, Marsh McLennan Agency, SMRT, Yokogawa Fluid Imaging Technologies, KMA Human Resources, Maine DECD, University of Maine and Cianbro have confirmed sponsorship so far in 2024. | $10,000 |
| Small Enterprise Growth Fund | Newport, ME | - | We are requesting $10,000 in sponsorship for the Maine Startup Challenge. | $10,000 |
| The Jackson Laboratory | Bar Harbor, ME | - | The Maine Biomedical Innovation and Technology conference (BIT) is a new program focused on current and emerging biomedical research and how these activities advance the Maine economy in line with the state's 10-year economic development plan. | $10,000 |
| UNAR Labs LLC | Portland, ME | - | Gaining access to digital graphical information such as graphs, charts, and maps, is one of the biggest challenges to success for people who are blind or visually-impaired (BVI). The visually rendered nature of graphic content means that BVI people are unable to perceive this critical information, resulting in negative impacts on their educational progress, employment opportunities, navigational efficiency, and myriad other activities of daily living (ADLs). Consider for instance a blind student who needs to work on class assignments or take a standard aptitude test (SAT) in STEM curriculum. Accomplishing tasks such as answering a question based on a bar graph are often difficult (or impossible) without graphic access, forcing the student to rely on a sighted-individual for assistance. UNAR Labs will address this major unmet need by providing BVI people with real-time access to digital text and graphical materials via development of an novel information access solution. | $10,000 |
| Viable Gear | Portland, ME | - | Viable Gear is using seaweed to replace plastic in the aquaculture and fishing industry. Viable Gear is a current recipient of a NOAA SBIR Phase I and will be applying to the NOAA SBIR Phase II that should be opening up soon. | $10,000 |
| WAVED Medical LLC | Orono, ME | - | WAVED Medical is developing an image-based risk assessment product for mammography to identify women whose breast tissue composition puts them at higher risk for developing invasive cancer. More high-risk patients can be identified in a screening setting, generating more preventive care. We are seeking to submit an NIH STTR Phase II to NCI in Sept. 2024. | $10,000 |
| Wicked Wild LLC | Lubec, ME | - | Wicked Wild will use SBIR funds to quantify the feasibility of Maine wild blueberry manufactured into wellness shots. There are many types of wellness shots available today, and demand is strong, but wild blueberry has not been offered yet. | $10,000 |
| Goodfocus LLC | Freeport, ME | - | I am seeking someone with extensive leadership experience in the SaaS market, particularly with products relating to HR, to be a fractional co-CEO. The core goals are to create short and medium term strategic plans to improve our product/market fit, to identify untapped markets and to prepare for further rounds of funding - loans, investment, grants. | $8,595 |
| Kit NA Brewing Inc | Portland, ME | - | As more craft non-alcoholic beers enter an increasingly competitive marketplace, Kit NA Brewing needs an updated packaging identity system to solidify its seat on the shelf as a legitimate contender. This packaging redesign project will provide Kit with an updated look of its packaging (inclusive of cans and cartons) that will flow throughout the rest of the brand and be a fully aligned brand refresh. Included within this project is research (competitive and brand audits), updated can and carton designs, research for validation of those designs, and finalized digital files for print. This refresh will become the foundation of the Kit brand. | $7,982 |
| Maine Discovery Museum | Bangor, ME | - | The Maine Science Festival (MSF), which launched in 2015, is the first and only science festival in Maine and an independently funded program of the Maine Discovery Museum. Since conception, we've had 10,000 people join us every year at the MSF, where we showcase the science (and technology) happening in Maine, using the format and structure of an arts or music festival. We produce public science events - forums, workshops, talks, art exhibits, film screenings, and hands-on activities - that focus on the science happening and being used in Maine. We bring Maine science to the public. | $7,500 |
| Maine Space Grant Consortium | Augusta, ME | - | President of STEM Engagement, will be our morning keynote speaker on Monday, November 6. Mr. Kincaid will share his thoughts about the Future of Space, NASA's plans for engaging the nation in the future of space (Moon and beyond and on Earth), the importance of STEM engagement to ensure the nation's leadership role in its future in space, and a few words on how a small state like Maine can play a significant role. | $7,500 |
| Paramount Planet Product | Orono, ME | - | We need assistance with organizing our accounting to suit our National Science Foundation federal grant requirements. | $7,500 |
| Ocean Approved Inc | Biddeford, ME | - | A consultant that can help us find a cost-effective way to dry Maine grown kelp in large quantities. The previous drying partners Atlantic Sea Farms has worked with do not have the capacity and are too costly to dry seaweed this year. Rescale Supply specializes in connecting business with co-packers to assist companies in producing their products to the desired spec at the desired price point. | $7,198 |
| Lowry Aeration Systems Inc | Westbrook, ME | - | Rebranding, marketing and PR for growth. | $6,900 |
| Health Economy LLC | Yarmouth, ME | - | The funding I am seeking is for a public relations professional to oversee publicizing the results of our research on the program's impact on people's attitudes toward poverty. We have conducted this research and are currently analyzing the data. | $6,675 |
| Hey Freya Co | Portland, ME | - | The project we wish to pursue through MERC pertains to our overall brand positioning and go-to-market strategy, specifically efforts to accelerate and improve our customer acquisition and retention. We are seeking assistance with content development, ongoing customer engagement, and partnership collaborations through MERC. MERC's funds will support digital content creation, customer service, and partnership identification. These funds will also support cross-promotion efforts on social media, beginning with Instagram and Facebook, the two most prominently used platforms for our target demographic (women ages 25 to 45). | $6,600 |
| Fresh Pickins Farm LLC | Windham, ME | - | Strategy consulting to accomplish the following objectives: - Development of a content marketing strategy that will guide the execution of asset production - Planning the execution of all content creation that will support tactical marketing effortsMarketing support to dive campaign goals: - Launch of a Digital Asset Management platform to optimize marketing operations - Ongoing support to execute on tactical marketing efforts | $6,000 |
| Orono Spectral Solutions | Hermon, ME | - | Developing the financial information and other details of the project. | $6,000 |
| Shellfish Solutions | Castine, ME | - | Help with a part-time CFO. | $6,000 |
| Maine Aquaculture Innovation Center | Walpole, ME | - | See Part IV Supplemental Information | $5,900 |
| Salmonics LLC | Brunswick, ME | - | Salmonics develops and manufactures products targeted for use in the veterinary and human health sectors, which require verifiable quality system procedures. Diversifying our customer base is a component of our strategic plan. Establishing documented procedures and retaining records of our quality management system (QMS) processes will demonstrate our commitment to a formal quality management system. ISO 13485 is the international standard for medical devices. It is routinely used by suppliers to medical device manufacturers and other regulated biomedical companies around the world. We have, together with MMEP and a selected consultant, developed a SOW which outlines an implementation plan to incorporate ISO 13485 requirements into our existing QMS. | $5,639 |
| Wildwood Oyster Co | Portland, ME | - | I would like help from a consultant to help take the spreadsheets we currently use to track POs, costing, and profitability, combined with our Quickbooks data to create a forecasting model and cash flow spreadsheet. These systems we use have gotten us to where we are now, and we need to retool them to support 5x future growth. | $5,275 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Liability | Amount |
|---|---|
| Subscription Based Lease Obligation | $189,118 |
“The Director of Finance and Administration performs an initial review of the Form 990 with the external preparers and secondarily with the President of the Organization. A copy of the completed Form 990 and accompanying schedules is then provided to the Maine Technology Institute Finance Committee of the Board of Directors for review and discussion, followed by presentation at the monthly board meeting preceding the filing date.”
“The Organization requires that all board members, paid and volunteer application reviewers and employees sign conflict of interest policy statements, which are kept on file by the Organization. The policy requires that an individual disclose a conflict of interest as soon as the circumstances arise; that board members, reviewers and employees recuse themselves from discussions and decisions whenever there is a real or perceived conflict of interest. Additionally, award applicants are asked to disclose parties who may have a conflict of interest reviewing their projects; volunteer review board and governing board members are posted on the MTI website for their information. Care is taken to eliminate anyone with a conflict from each step in the review and decision-making process.”
“The Organization's top executive is compensated by the State of Maine, a related party. They are part of a bargaining unit and methodologies related to compensation are unknown at this time. The President of the Organization periodically reviews and sets compensation for all staff, including the Organization's other officers. This may or may not include a formal review and comparability analysis and may or may not be discussed informally with members of the board.”
“The conflict of interest policy is available on the website. The financials are available upon request and are included in the annual report, which is posted on the website.”
“Section 1.263(a)-3(n) Election: Maine Technology Institute 16 Middle St, Ste 201 Portland, ME 04101-5163 EIN: 01-0529871 The Maine Technology Institute is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n).”
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | Portland |
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| IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt | 0 | Merrit Carey |
| IRS990/ContractorCompensationGrp/ServicesDesc | 0 | Marketing Services |
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| IRS990/Desc | 0 | The Maine Technology Institute (MTI) invests in promising technologies by funding research and development projects in the state's seven technology sectors. MTI's competitive awards bring new products, services and processes to the market, generating high-quality jobs across Maine. Businesses, non-profit organizations, academic institutions and entrepreneurs are eligible for funding under MTI's program, which is outlined below:Initial contact is made when those interested complete an online intake form. Meetings are established with entities proposing projects. Using an assessment tool, the potential applicant and the Institute review eight different areas including: Team Ability, Innovation and Value Proposition, Customer and Market, Business/Organization Model, and Scope of Work/Budget. At this point the process may continue with the Institute or may be referred to a business partner. If the determination is to apply for support, the appropriate level of funding request will be determined, and the application will be submitted. The funding level will also determine the level of due diligence needed with the application. Funding levels may also help to determine the nature of the award. The Institute awards grants, loans and equity investments. Successful applicants who receive funds are also required to submit reporting on their projects for five years post award.Four funding levels are used in the application process, as follows:Range One Awards less than $25,000Range Two Awards between $25,000 and $100,000Range Three Awards between $100,000 and $250,000Range Four Awards over $250,000 |
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| IRS990/FeesForServicesLegalGrp/TotalAmt | 0 | 72584 |
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| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 8 | X |
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| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 10 | X |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 1 | Amberlynn Esperanza |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 2 | Melissa LaCasse |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 3 | Jed Beach |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | Dan Belyea |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 5 | Michael Cassata |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 6 | Heather Johnson |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 7 | Meredith Mendelson |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 8 | Rob Pierson |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 9 | Ian Swanberg |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 10 | Susan Tapley |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 11 | John Pavan |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 12 | Brian Whitney |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 13 | Gregory N Lee |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | Director |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 12 | President |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 13 | Director of Finance & Administration |
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| IRS990/FormationYr | 0 | 1999 |
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| IRS990/GrantsToDomesticOrgsGrp/TotalAmt | 0 | 17023158 |
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| IRS990/GrantsToOrganizationsInd | 0 | 1 |
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| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 78862 |
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| IRS990/MinutesOfCommitteesInd | 0 | 1 |
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| IRS990/MissionDesc | 0 | The Institute, through a public and private partnership, shall encourage, promote, stimulate and support research and development activity leading to the commercialization of new products and services in Maine's technology-intensive industrial sectors to enhance the competitive position of those sectors and increase the likelihood that one or more of the sectors will support clusters of industrial activity and to create new jobs for Maine people. The Institute is one element of Maine's economic development strategy and will contribute to the long-term development of a statewide research, development and product deployment infrastructure. |
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| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 1 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 1 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 1069425 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 10649700 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 16214271 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt | 0 | 20727064 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt | 0 | 34470111 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 14371752 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 9813047 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 26624852 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt | 0 | 106006826 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt | 0 | 696274 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt | 0 | 392679 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 25565 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 378252 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 418970 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt | 0 | 1911740 |
| IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt | 0 | 3693386 |
| IRS990ScheduleA/PublicOrganization170Ind | 0 | X |
| IRS990ScheduleA/PublicSupportCY170Pct | 0 | 0.98230 |
| IRS990ScheduleA/PublicSupportPY170Pct | 0 | 0.98040 |
| IRS990ScheduleA/PublicSupportTotal170Amt | 0 | 106006826 |
| IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind | 0 | X |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt | 0 | 20727064 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt | 0 | 34470111 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 14371752 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 9813047 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 26624852 |
| IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt | 0 | 106006826 |
| IRS990ScheduleA/TotalSupportAmt | 0 | 107918566 |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | 1 |
| IRS990ScheduleD/CloselyHeldEquityInterestsGrp/BookValueAmt | 0 | 4557443 |
| IRS990ScheduleD/CloselyHeldEquityInterestsGrp/MethodValuationCd | 0 | F |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 20682 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 111898 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 132580 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt | 0 | 322 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt | 0 | 39548 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt | 0 | 39870 |
| IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt | 0 | 0 |
| IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt | 0 | 125995 |
| IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 125995 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 189118 |
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