Organizations Filed Purposes:
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.
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
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Gregory N Lee | Director of Finance & Administration | 40 | $86,027 |
| Brian Whitney | President | 40 | $0 |
| Paul Edmonds | Past Director | 2 | $0 |
| Ian Swanberg | Director | 2 | $0 |
| Rosaire Pelletier | Director | 2 | $0 |
| Meredith Mendelson | Director | 2 | $0 |
| Heather Johnson | Director | 2 | $0 |
| Stacey Huth | Director | 2 | $0 |
| Richard Ganong | Director | 2 | $0 |
| Dan Belyea | Director | 2 | $0 |
| Sebastian Belle | Director | 2 | $0 |
| Jake Ward | Secretary | 2 | $0 |
| Raymond Kelley | Treasurer | 2 | $0 |
| Alexander Spaulding | Vice Chair | 2 | $0 |
| Donna Cassese | Chair | 2 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202131039349300428_public.xml