New Technology + Research and Development =New Jobs

From the Maine Technology Institute (MTI):

Maine Technology Asset Fund: Request for Applications Released

This past November, Maine voters passed a $50 million bond referendum to support research, development and commercialization of new technologies and to generate quality jobs across the state. The Maine Technology Institute (MTI) is administering the new Maine Technology Asset Fund that can be used for capital and infrastructure expenditures, such as laboratories and laboratory equipment supporting research and development leading to commercialization of new products and services in Maine's seven technology sectors.

Universities, nonprofits and businesses may all apply to this fund. Projects involving collaboration are encouraged. This is not a traditional research funding program, but one that rather aims to drive economic development and grow Maine's innovation economy through investments in critical capital projects. Projects that move technologies farthest along the innovation continuum toward commercialization and revenue generation, therefore maximizing economic benefit for Maine, will be the most competitive for this program.

Applications will be reviewed competitively according to five criteria: economic impact, scientific merit, project team and institution, relevance to Maine’s innovation economy and collaboration. To oversee the external review of all applications, MTI is contracting with the American Association for the Advancement of Sciences, a respected scientific organization that has worked with over 30 states to implement research and technology commercialization programs. Applicants who move forward to the second phase of review will participate in an interview panel with out-of-state and Maine reviewers.

There will be two rounds of awards, one in 2008 and another in 2009. The MTI Board anticipates approving the first round of awards by September 2008. For the 2008 round, the Notice of Intent to file an application is due electronically at MTI on Monday, March 17, by noon. Late submissions will not be accepted. Paper applications are due at MTI on Thursday, April 17, by 5:00 p.m. Late submissions will not be accepted.

The Request for Applications and Notice of Intent along submission dates and other important information can be found on MTI’s Web site.