Maine Technology Asset Fund 2.0

September 12th, 2017

The funds provided under this Maine Technology Asset Fund 2.0 (MTAF 2.0) program are general fund bond dollars provided through a public law approved by the Maine Legislature and signed by Governor LePage in 2016, and subsequently approved by Maine’s voters in June 2017:

Law enacted (April 2016) “An Act to Authorize a General Fund Bond Issue to Stimulate Investment in Innovation by Maine Businesses to Produce Nationally and Globally Competitive Products and Services” LD 1053, Public Law Chapter 479.

MTI shared potential program design with a variety of stakeholders and potential applicants, soliciting feedback on the program’s design, within the required program parameters.

In response, the Lightning Rounds feature:

Significant outreach to multiple market segments of potential applicants

A low-barrier 10-slide “pitch deck” to “pre-qualify” applicants and to determine appropriate level of due diligence

Scaling due-diligence to appropriate funding request level and economic output of request

Multiple opportunities to be considered

Rolling submissions, reviewed each month through December 2017

As little prescriptive design, as possible

Technical assistance through all stages of engagement

Support for economic modeling to prove out economic output assertions

Challenge grants – no match required up front

Allow cost share to be used for non-capital expenses

For more information and to review program guidelines:

MTAF 2.0 Guidelines Lightning Rounds 091217