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W W W. M A I N E B I Z . B I Z 35 BO O K O F L I S T S 2 0 1 8 F I NA N C E Amount awarded 1 Project title Type of award 2 Sector 1 Ocean Renewable Power Co. (ORPC) Maine LLC Portland $700,000 ORPC Bridge Loans Note Environmental technology 2 University of Maine Orono $500,000 Vision & Roadmap for Maine's Forest Sector Cluster Initiative Program Forestry & agriculture 3 Midcoast Regional Redevelopment Authority Brunswick $495,165 TechPlace Shared Composites Layup Room & Paint Booth Cluster Initiative Program Composite materials 4 University of Maine Orono $438,046 Smart Materials Lab Cluster Initiative Program Composite materials 5 WedgeRock Inc. Limerick $354,774 Mechanical Spring Return Operator (MSRO) Product Line Development Loan Precision manufacturing 6 Bangor Target Area Development Corp. Orono $344,312 Infrastructure Improvements to UpStart Center for Entrepreneurship Cluster Initiative Program Biotechnology 7 Spring Point Solutions LLC Portland $280,000 Quality Management Wizard Commercialization and Advanced Software Development Tech Start Grant, Seed Grant and Development Loan Information technology 8 Foundation for a Strong Maine Economy (Focus Maine) Augusta $269,600 Capturing the Opportunity in Biopharma and Enabling Growth of Maine's Aquaculture Cluster Cluster Initiative Program Biotechnology, aquaculture and marine 9 MedRhythms Inc. Portland $253,700 MedRhythms Pulse and Deep Learning Analytics Engine for Parkinson's Patient Gait Training Development Loan and Phase Zero Grant Information technology 10 Accelera Inc. Biddeford $250,000 SRS Ankle Sleeve Development Development Loan Biotechnology Advanced Concepts & Engineering LLC Gorham $250,000 ACE Auto-Grade Beta to Commercialization Development Loan Precision manufacturing Born Global LLC Portland $250,000 Stored Solar Sites: West Enfield & Jonesboro Redevelopment Note Environmental technology GlycoPure Inc. Cambridge $250,000 Biological Conversion of Chitin to Glucosamine Development Loan Biotechnology MyHealthMath LLC Portland $250,000 MyHealthMath Development Loan Information technology 15 Field Phyto Nutrients LLC Brunswick $203,062 Yield Optimization Parameter Development for Pilot Plant Planning Development Loan Aquaculture & marine 1 2 SOURCE: Largest Maine Technology Institute investments Ranked by amount received per award, fiscal year 2017 1 MTI awards are disbursed in tranches based upon certain project milestones being achieved. The award amounts may not refl ect actual disbursements. 2 The Maine Technology Institute invests public funds in Maine entrepreneurs and companies who engage technology to develop innovative products and services within 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. This list was compiled by Stephanie R. Meagher and published in the Sept. 4, 2017, issue of Mainebiz. N O T E : MTI's Equity Capital program supports its grant and loan recipients as they advance their company to full commercialization and complements meaningful outside investment needed to carry the company to its next stage. The Development Award Program offers loans of up to $500,000 to support research and development of new products, processes or services leading to commercialization. MTI's Cluster Initiative Program (CIP) supports collaborative efforts in Maine's high-potential technology clus- ters that help spread knowledge and skills, build connections among businesses, connect businesses to research and service partners, and address common opportunities and challenges, leading to more vibrant economic growth and innovation S O U R C E : Maine Technology Institute