The Maine Technology Institute (MTI) has established the Pandemic Recovery for an Innovative Maine Economy (PRIME) Fund to distribute $39 million in federal grants approved through the American Rescue Plan Act. The PRIME Fund will help fortify Maine businesses as they recover from negative impacts caused by the pandemic. Funding is available for development and innovation throughout the state’s technology sectors. MTI plans to make this important funding initiative accessible to all eligible businesses in every corner of Maine, including traditionally underrepresented, rural and BIPOC founders. PRIME Funds will be administered in two phases.
Phase 1 is targeted to small businesses across Maine that work in, use, or leverage solutions connected to the state’s technology sectors. The funding presents a unique opportunity to help businesses in Maine invest in new customers, new business lines, and other innovations that will strengthen their resilience and ability to thrive moving forward. Members of the MTI Team will be available on a weekly Zoom call to answer questions about PRIME, the application process, and provide individual assistance. The PRIME FAQs webpage also offers helpful guidance.
The application deadline for Phase 1 is midnight on May 19, 2022.