Bangor and Brewer, Maine – Gov. Janet Mills today announced the opening of a $5 million grant program through her Maine Jobs & Recovery Plan to empower Maine entrepreneurs, startups and small businesses. This program represents the second round of funding 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 lines of business, attract new customers and create long-term economic growth.
In this round, MTI will award grants to organizations that support Maine’s targeted technology sectors, including biotechnology, composites and advanced materials, forestry and agriculture, marine industries, precision manufacturing companies and more.
Governor Mills announced the latest PRIME grants on Wednesday during visits to Nyle Systems in Brewer, a maker of heat pump technology, and Bangor’s Mobile Price Card, a software developer for retailers, each of which received first-round PRIME grants.
“Our first round of grants provided important funds directly to small businesses to help them expand. This second round of grants will support the efforts of established companies that provide key advice, mentoring and other guidance to Maine entrepreneurs and startups to get them off the ground.” said Gov. Janet Mills. “Together, these PRIME grants will help the entire Maine business community create high-paying jobs right here in Maine.”
“Maine has an amazing support system for small businesses,” said Commissioner Heather Johnson of the Maine Department of Economic & Community Development. “This PRIME funding will help leverage existing resources and fill gaps to ensure entrepreneurs have the tools they need to succeed.”
Applications for the latest round of PRIME grants close on November 15th. To be eligible for a grant, organizations must articulate how they will support startups and small businesses as they scale in Maine.
This round of PRIME grants involves a competitive application process that requires appropriate investment from applicants. MTI anticipates that individual awards will total up to $750,000. Application documents and further information on scholarships and eligibility can be found on the program website.
The Maine Jobs & Recovery Plan is the Governor’s legislature-approved plan to invest nearly $1 billion in Federal American Rescue Plan funds to improve the lives of Maine’s people and families, help businesses find high-paying jobs to create and build an economy ready for future prosperity.
In the last year since the employment plan went into effect, the Mills Administration has provided direct economic assistance to nearly 1,000 small Maine businesses, supported more than 100 infrastructure projects statewide to create jobs and revitalize communities, and invested in workforce programs that are expected to provide training, vocational and educational advancement and job training opportunities for 22,000 Maine residents. For a summary of the investments made since the establishment plan came into effect, please click here.
For more information on the Maine Jobs & Recovery Plan, visit maine.gov/jobsplan.