The Maine Technology Institute awarded more than $1 million to entrepreneurs and startups in its latest round of funding. The awards were matched by $1,693,907 in private contributions.

Receiving development loans, which are used to convert research into new products, processes and companies, were: Maine Shell Fish Technologies of Scarborough, awarded $250,000 which provided a $297,500 match; Mingle Analytics of South Paris awarded $500,000 and provided a $547,853 match; MVP.Aero of Brunswick, awarded $499,975 and provided a match of $764,615.

MTI also awarded $23,825 in Tech Start grants to help startups develop new products or services. Automation Integrators of Auburn received a $5,000 grant and provided a $15,280 match; Colby College Chemistry Department, grant of $5,000 and match of $13,081; Parent Technology Group of Portland, grant of $3,825 and an equal match; R. M. Beaumont Corp. of Topsham, grant of $5,000 and match of $5,370; and Spring Point Solutions of Portland, grant of $5,000 and match of $9,200

Forager1 of Portland received a business accelerator grant of $37,183 and provided an equal match. The grant will be used to help the company enhance the scope and sustainability of its business model.


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