Governor Janet Mills announced the opening of a $5 million grant program through her Maine Jobs & Recovery Plan today to strengthen Maine entrepreneurs, startups, and small businesses. This program represents the second round of grants from the Pandemic Recovery for an Innovative Maine Economy (PRIME) Fund, administered by the Maine Technology Institute (MTI).
In August, Governor Mills announced the first round of PRIME grants, which awarded nearly $23.3 million to 174 Maine technology companies to help them recover from the pandemic, invest in new products and business lines, attract new customers, and create long-term economic growth.
In this round, MTI will provide grants to organizations who support Maine’s targeted technology sectors, which include biotechnology, composites and advanced materials, forestry and agriculture, marine industries, precision manufacturing businesses and more.
Governor Mills announced the latest PRIME grants Wednesday during visits to Nyle Systems in Brewer, a manufacturer of heat pump technology, and Mobile Price Card of Bangor, a software developer for retailers, each of which received PRIME grants during the first round.
“Our first round of grants provided critical funding directly to small businesses to help them expand. This second round of grants will support the efforts of established businesses who provide important advice, mentoring, and other guidance to entrepreneurs and startups in Maine to get them off the ground,” said Governor Janet Mills. “Taken together, these PRIME grants will help Maine’s entire business community create good-paying jobs right here in Maine.”
“Maine has an amazing system of supports for small businesses,” said Commissioner Heather Johnson of the Maine Department of Economic & Community Development. “This PRIME funding will help leverage existing resources and address gaps to ensure that entrepreneurs have the tools they need to succeed.”
Applications for the latest round of PRIME grants close on November 15. To be eligible for a grant, organizations must articulate how they will support startup companies and small businesses as they scale in Maine.
This round of PRIME grants includes a competitive application process which requires matching investments by applicants. MTI anticipates that individual awards will be up to $750,000. For application materials and additional information on grants and eligibility, please visit the program website.
The Maine Jobs & Recovery Plan is the Governor’s plan, approved by the Legislature, to invest nearly $1 billion in Federal American Rescue Plan funds to improve the lives of Maine people and families, help businesses, create good-paying jobs, and build an economy poised for future prosperity.
In the last year since the Jobs Plan took effect, the Mills Administration has delivered direct economic relief to nearly 1,000 Maine small businesses, supported more than 100 infrastructure projects around the state to create jobs and revitalize communities, and invested in workforce programs estimated to offer apprenticeship, career and education advancement, and job training opportunities for 22,000 Maine people. For a summary of investments made since the Jobs Plan took effect, please click here.
For more about Maine Jobs & Recovery Plan, visit maine.gov/jobsplan.