Grant awarded to local business

    GARDINER – The Maine Technology Institute (MTI) board of directors approved 21 seed grants to technology companies across Maine. Over $246,000 was awarded, leveraging more than $343,000 from other sources. Company locations range from Portland to Southwest Harbor and Orono to Madawaska.
    “These technology projects cover all seven of Maine’s technology sectors, from oyster farming in aquaculture and marine industries to carbon fiber automotive parts in composite materials,” said Betsy Biemann, MTI president. “Since seed grants are often an entrepreneur’s first source of investment, they can be instrumental in supporting Maine’s innovative economy. The early stage projects they fund today will create good-paying jobs across the State once their new products and services reach the market.”
    Companies funded by MTI are bringing new products to U.S. and global markets, leveraging nearly $200 million from public and private sources and creating jobs faster with higher wages than the average Maine company.
    MTI seed grants of up to $12,500 are offered on a competitive basis to support early activities for product development, commercialization or business planning and development. A company may only be awarded up to a total of $25,000 in seed grants for a specific project.
    Each seed grant requires a 1:1 match consisting of actual cash, salaries, staff time or equipment directly attributable to the proposed project. Seed grants are awarded six times each year. The application deadline for the next round of grants is this Feb. 14.
    Among those receiving grants are: Harbison Plumbing & Heating, Inc./Bison Products of Houlton which manufactures hand operated deep and shallow well pumps that can be installed in the same well casing with an electric pump or as a stand-alone installation. This project will support the development of comprehensive business plan and commercialization strategy to guide business growth. Their grant request of $12,500 has been matched with $14,550.