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T H E L I S T C O M P I L E D B Y S T E P H A N I E M E A G H E R C O M P I L E D B Y S T E P H A N I E M E A G H E R 207-294-2075 or www.browndogcarriers.com On Time — Every Time — Stress Free Purchase this list and more as an Excel document at mainebiz.biz/DataCenter @ Purchase this list and more as an Excel document at mainebiz.biz/DataCenter @ 1 The Maine Technology Institute invests public funds in Maine entrepreneurs and organizations who engage technology to develop innovative products and services with the state's seven targeted technology sectors. Grants, loans and equity investments are issued on a competitive basis and require a minimum of one-to-one private sector match. The goals are high-paying jobs, development of intellectual property and business growth, which in turn provide tax revenue for the state. 2 MTI awards are disbursed in tranches based upon certain project milestones being achieved. The award amounts may not reflect actual disbursements. N O T E : N/A = Not available S O U R C E : Maine Technology Institute Maine Technology Institute investments 1 Ranked by amount received per award, 2023 2 Recipient Amount awarded Project title Type of award Sector 1 KinoTek Inc. Penobscot $ 1,000,000 Investment to accelerate sales Loan Information technology 2 North Spore LLC Cumberland $ 500,000 Investments in specialized personnel for staff, sales and brand growth Loan Biotechnology 3 Bookclubz Inc. Knox $ 300,000 2022 strategy to scale user growth Equity Information technology 4 Downeast Institute for Applied Marine Research And Education Inc. Washington $ 297,790 Development of hatchery production of the Atlantic Sea Scallop, placopecten magellanicus Loan Aquaculture & marine 5 Alakazam Inc. Cumberland $ 250,000 Immersive web SaaS platform version 2 Loan Information technology 5 bluShift Aerospace Inc. Cumberland $ 250,000 Scale to first full commercial rocket launch Convertible debt Composite materials 5 CourseStorm Inc. Penobscot $ 250,000 Growth acceleration Equity Information technology 5 Defendify Inc. Cumberland $ 250,000 Achieve key milestone and increase intellectual property, product development and support Convertible debt Information technology 5 Reconnect Inc. Cumberland $ 250,000 Series seed extension Equity Information technology 5 Springworks Farm Maine Inc. Androscoggin $ 250,000 Organic, aquaponic lettuce Equity Aquaculture & marine 11 Good To-Go Inc. York $ 195,000 Facility expansion Equity Forest products & agriculture SOURCE: Maine Technology Institute Note: N/A = Not available 1 The Maine Technology Institute invests public funds in Maine entrepreneurs and organizations who engage technology to develop innovative products and services with the state's seven targeted technology sectors. Grants, loans and equity investments are issued on a competitive basis and require a minimum of one-to-one private sector match. The goals are high-paying jobs, development of intellectual property and business growth, which in turn provide tax revenue for the state. 2 MTI awards are disbursed in tranches based upon certain project milestones being achieved. The award amounts may not reflect actual disbursements. - This list was compiled by Stephanie R. Meagher and previously published in the Aug. 28, 2023 issue of Mainebiz. Maine Technology Institute investments 1 Ranked by amount received per award, 2023 2