Maine Technology Institute awarded four development loans totaling nearly $1 million, part of the $1.4 million it disbursed in its most recent round of funding.

The publicly financed, private, nonprofit is dedicated to fostering entrepreneurship and helping startups in Maine. The awards were announced in a press release Wednesday.

MTI’s development loans of up to $500,000 are offered three times a year to support the conversion of research into new products, processes and companies. Among the recipients are:

• Portland’s MyHealthMath LLC, which has developed a tool to help employers and employees save money by making better informed decisions on health insurance plans and other medical decisions. The company received $250,000 and is providing a match of $661,850.

• Advanced Concepts & Engineering LLC in Dexter received $249,000 and is providing a match of $639,300 to produce its portable, self-contained and fully automated solution for conducting gradation tests on aggregate materials.

•ACCELERA Inc. of Biddeford received $250,000 and is matching $305,591 to help it secure exclusive license rights from Harvard University’s WYSS Institute for technology to develop lightweight wearable technology products to improve balance and reduce risks of joint re-injury.


• MedRhythms Inc. of Cape Elizabeth received $248,700 and is matching $313,400 to further develop its therapy process to improve rehabilitation results while increasing access and lowering costs.

MTI also provided 19 seed grants totaling $433,740 to help early startup companies with things like prototype development, field trials, prototype testing, pilot studies or technology transfer activities.

It also provided three TechStart grants totaling $15,000 to be used to develop business plans, make intellectual property filings or perform market analysis, among other things. American Unagi of Thomaston, Spring Point Solutions of Portland and LSM Enterprises dba EterNav of Castine each received $5,000. American Unagi, which is focused on growing Maine harvested glass eels to market size for sale to domestic market, provided a match of $5,000; Spring Point Solutions, which launched a quality management tool called QM Wizard, provided a $5,250 match; and EterNav, which is developing software and support to families faced with the unexpected loss of a loved one, provided a $35,717 match.

More information on MTI programs and deadlines for the next round of funding are available at

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