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                     Development Loan Application Overview
(Subject to change. Please call MTI or attend an upcoming presentation)
AGENDA
• Overview
• Maine Technology Institute
• Business Innovation Program
• Development Loan Application 
Submission Process
• Business Accelerator Grant 
Application Submission Process
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Overview of the Maine Technology 
Institute (MTI)
Who we are:
● We are an industry-led, private non-profit that is publicly funded by the 
state
What we do:
● Our mission is to stimulate, encourage and support research and 
development of new products, processes and services that will generate 
good jobs across Maine
How we do it:
● We offer early-stage capital and support through competitive grants, loans 
and equity investment for the research, development and application of 
technologies
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MTI is making a difference across Maine
MTI’s impact in the state:
• Over past 12 years, MTI has 
funded 1,652 technology 
projects in Maine 
• MTI has increased investment 
in Maine companies, in part 
through its requirement of at 
least 1:1 match in funding
• MTI also supports the growth of 
Maine companies, including 
high-paying jobs, through 
funding of technology clusters 
and the Business Innovation 
Program funding components
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MTI’s Business Innovation Program 
manages the Development Loan process
Focus of this section
Maiine  Technollogy  
IInstiitute  
(MTII)
Busiiness  IInnovattiion  Cllustter  IIniittiiattiive  Maiine  Technollogy  
Program  Program  Assett  Fund  
((BIIP)) ((CIIP)) ((MTAF))
• SBIR/STTR support • CIP Planning Award • Awards for capital 
• TechStart Grant • CIP Implementation investments in R&D 
• Seed Grant Award leading to 
commercialization
• Development Loan
• Business Accelerator 
Grant
• Equity Capital
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Funding support for companies spans from proof of 
concept through commercialization
Primarily R&D support
Funding support through MTI’s Business Innovation Program Primarily business support
TI eed rant MTTII  Deevveellooppmeenntt  MTTII  Eqquuiitty MTI Seed Grant y Loan apital**
(up to $25K) Loan Capital**
(up to $100-500K) ($50-200K)
MTI Business 
Accelerator Grant
MTI TechStart (up to 10% of Dev. Loan value)
Companion 
Grant grants
(up to $5K) MTI Business Accelerator Grant
(up to 20% or $15K  Phase I Award or 10%/$50K Phase II Award)
SBIIR//STTTTR  SBIIR//STTTTR  MTTII  Eqquuiittyy  
Phhaassee  II**  Phhaassee  IIII** Caappiittaall****
($100-150K) ($1-1.5MM) ($50-200K)
Stage of project/product development
• Corp/LLC & business plan creation • Proof of concept and prototype testing • Commercialization • Scale and Grow
*Maine Phase I and Phase II Federal SBIR/STTR applicants receive up to 80 hours pro bono consulting from MTI to help in submitting application
**Companies are eligible to apply for equity capital if they have received any of following loans or awards: MTI Seed Grant, MTI Development Loan, SBIR /STTR Phase I, SBIR /STTR Phase II
MTI’s Business Innovation Program funds 
technology projects for Maine companies
Who is eligible to apply for What key criteria must an 
funding? eligible project meet?
• Maine-based companies (or • Supports one of seven targeted 
definitive plans to locate if selected) technology sectors:
of any size – Biotechnology
– Registered to do business in state of – Composites & Advanced Materials
Maine – Environmental Technologies
– Have definitive plans to create and/or – Forest Products & Agriculture
retain Maine jobs – Information Technology
• Companies with significant base of – Marine Technology & Aquaculture
operations in Maine – Precision Manufacturing
– Includes companies with clear plan to • Show high potential for significant 
locate in Maine if not in state already economic development to Maine, 
• Maine-based academic & research including:
laboratories – Increased payroll or competitiveness
– Must have expectation that technology – Firm survival and growth
will be further developed and/or 
commercialized via transfer into the • Has at least 1:1 match for MTI funding
marketplace
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MTI uses a rigorous, competitive evaluation 
process when reviewing applications
Evaluation Process
 Applicants are required to talk with MTI staff prior to 
submitting a project for Development Loan funding
 Projects are selected for funding using a thorough evaluation 
process, which includes:
‒ Evaluating the project’s technical merit 
‒ Considering the likelihood that the project will commercialize or 
increase existing sales.
‒ Assessing the economic benefit to Maine
 Applicants meet regularly with MTI after funding approval to 
review their project status and demonstrate continued funding 
is warranted.
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The Development Loan: A component of 
MTI’s Business Innovation Program
Purpose of Development Loan:
Provide funding for Maine-based entrepreneurs, businesses, or research institutions for 
specific R&D projects that will lead to commercialization or lay the groundwork for 
securing additional funding
Application requirement: 
Prior to submission of a Development Loan application, MTI requires that applications 
have a concept review meeting with MTI Business Innovation Program staff
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Development Loan funds are only eligible 
for specific activities…
ü Examples of eligible û Examples of ineligible activities activities
• Proof of Concept • Capital expenditures for non-R&D 
• Prototype Development activities 
• Initial Lab and Field Trials • Any expenditures before the 
submission date for the round
• In-depth Market Research
• Overhead and Indirect Expenses 
• Design for Manufacturing that comprise >20% of MTI funds 
• Pilot Production and/or overall budget
• Scale Up of Manufacturing that • Limited Sales and Marketing 
includes a significant R&D or Expenses that comprise >15% of 
discovery component MTI funds and/or overall budget
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…and have different parameters for its 
three different funding categories
Description Funding levels Repayment terms
• Academic or research institution • $30K minimum • Percentage of license fees 
Technology  conducting R&D activity • $100K maximum accrue to MTI until loan 
Transfer required to transfer technology repaid
to commercial market
Start-up / • Companies that have one or • $50K minimum • 7 yrs. from 
early stage more of following: • $250K* maximum commercialization to repay 
 Founded $250K annually
• Companies that have one or • $50K minimum • Subordinated 5-yr note 
Established more of following may be offer a • $500K maximum (from time project begins)
term note:
corporation • 5% interest rate Founded >5 yrs. ago • Deferred payments of 3-5 
 >$1M in annual sales years
 Completed capital raise 
>$500K
PROJECTS  REQUIIRE  AT  LEAST  A  1::1  MATCH  FROM  THE  APPLIICANT  
*Should a start-up/early stage company want to be considered for funding greater than $250K they are required to, as part of the 11
application, request an exception with an explanation as to why they believe such an exception is justified
Steps for submitting a Development Loan 
application
Download Hold concept Prepare & 
application review meeting submit 
instructions with MTI application
• Access • Schedule early in • Incorporate any 
application process in order feedback from 
instructions on to give time to concept review 
MTI website* iterate on meeting
• Begin process of application if • Leverage 
seeing how your needed resources, like 
project aligns with • Contact MTI to Maine Small 
the scope of the schedule meeting Business 
application by the concept Development 
review deadline Centers to review 
date on the and provide 
Development feedback
Loan webpage. • Paper copy or 
Remember, this electronic (all in 
meeting is one PDF) 
required submissions 
accepted
APPLIICATIIONS  MUST  BE  SUBMIITTED  ON  THE  DUE  DATE  BY  5:00PM!!
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*Application forms found at http://www.mainetechnology.org/fund/development-loan 
Review process after complete Development 
Loan applications are submitted
• Notification up to  3 weeks 
• Interviews 3 weeks following after interview
notification
• Decision to submit to BOD 
    1 week following interview MTI BOD Decision
• Notification in 1-2 weeks
• Question responses due
1 week after that Interview with 
TBRC and Board 
• Completed in 7 weeks Technology Board of Directors(BOD)
Review 
AAAS* Evaluation Committee 
(TBRC) Evaluation
• Independently • Reviewed by • Applicant  team • Board of Directors 
reviewed by 3 members of the comes to MTI for makes final 
AAAS peer application interview decision and 
reviewers sector’s review • At least one approves granting 
• Evaluates: board member from loans to applicants
o Degree of • Recommend each TBRC and • Specific 
innovation whether to invite two members of contingencies or 
applicant for BOD are part of requirements may 
o Quality of interview interview be made by the 
technical 
• If invited for • TBRC and BOD Board to applicant resources
interview, provide interviewers before contracts 
o Likelihood of applicant recommend signed
new IP questions to whether to fund
answer
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*AAAS = American Association for the Advancement of Science
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The nitty-gritty components of the 
Development Loan application
Online registration • http://www.mainetechnology.org/account/login
(Form A) • Print out copy and sign
• Issued unique application number (DLXXXX); put on every top right page of application
Non-confidential project • Non-confidential;  300 words, included in press release if project is funded
summary 
History of previous •  2 pages; list of previously funded MTI projects
grants/loans  
• Technology ( 12 pages)
Technology project plan • Includes scientific  and technical merit of technology and scope of work of project
• 15 pages +  8 appendices
Business model/plan • Should include: Executive Summary, Company Overview, Product and/or Services, 
Market &Marketing Strategy, Management & Organization, Financial Statement & 
Projections
•
Commercialization & economic 3 pages; identify path to commercialization of technology and associated economic 
benefit to Maine
impact
• Forms B&D: Budget forms for project, showing associated match for MTI funds
Supporting forms • Form C: Intellectual Property plans
• Form E: Repayment plan, outlining schedule for repayment of Development Loan
• Form F: Economic impact assessment
• Checked by applicant for completeness with original signature
Application checklist
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Details on application narrative (1 of 3)
Points to address
• Explanation of the specific technical problem/opportunity to be addressed
Scientific/
Technical Merit • Why proposed technology is unique and innovative
• Specific objectives of the R&D project (i.e., technical questions it will 
answer)
•
Scope of work What, where and how the R&D work will be done
• Measurable outcomes that support continued commitment to 
commercialization
• Identification of major risks and risk mitigation strategies to protect 
commercialization
• Confirmation of access to ownership of needed equipment/facilities to 
carry out work
• Identification of standards, specifications and certifications needed for 
commercialization
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Technology project plan
Details on application narrative (2 of 3)
Points to address
• Overview of market opportunity; include competitive advantage of 
Market Potential company’s technology and business approach
• Market drivers (e.g., regulations, key trends) that are creating opportunity 
for commercialization
• Customer purchase drivers, including how marketable solution compares 
to competitors on price, performance, quality, etc..
• Identification of key targeted customers and any current relationships 
• Overview of Intellectual Property (IP) assets, and whether technology 
depends on owned or licensed IP to be successful
• Potential for IP to be developed (Form C)
Commercialization & • How Development Loan will lead toward commercialization and/or 
potential for augment next stages of securing financing
economic impact • Impact to Maine economy (e.g., jobs created/sustained, new products, 
processes or technologies in market), including Form F
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Market, Commercialization and Economic Impact
Details on application narrative (3 of 3)
Points to address
•  1 page each
Executive summary  
•
Company overview Executive summary to quickly engage readers; company overview gives history of 
company to date
• 3 pages recommended
Product and/or 
service • Should include product attributes, what needs to still be developed, value prop
• 3 pages recommended
Market & marketing 
strategy • Should include general market size, customer motivations, revenue plan, distributions 
& sales, SWOT analysis
• 2 pages recommended
Operational 
/production plan • Should include overview of operation of business, including location, people, etc.
• Description of project team and applicable experience to move project forward
Management & 
organization • Overview of key business partners for project
• Team’s strengths and weaknesses
• Description of any experienced advisors to support path to commercialization
• 3 pages required
Financial statement 
& projections • Must include Income Statement, Balance Sheet, Cash Flow one year back and 
minimally 1,3,5 years ahead
•   8 pages
Appendices
• Management team bios (required); also can include product brochures, press articles, 
letters of support from potential customers, industry/market research studies 17 
Business plan/model
Tips for writing an application
 Make it an enjoyable read, write with  Proofread your application
enthusiasm  Check spelling and grammar
 Check the math, particularly on 
 Support claims with data or Budget Form B
references.  Be realistic.

 Make sure that you have included:Follow required format; white space  All commitment letters for 
is not bad matching dollars

 Use diagrams and pictures as All biographies for personnel 
and consultants
appropriate  All required information & 
 Demonstrate that you have an forms including Checklist
understanding of what it takes to 
commercialize  Submit your application to MTI 10 
business days in advance of the 
 Create a balance between too much deadline and get a review for 
and too little technical information;  completeness
make sure the reviewer can  Incomplete applications 
understand the technology and the received after this point will be 
project returned to the applicant 
without review 18
The Business Accelerator Grant can act as 
companion grant for a Development Loan
Purpose of Business Accelerator Grant:
Increase the competitiveness of companies’ products or services by providing 
supplemental funding to support commercialization and business development capacity-
building activities that are required to advance a new technology to market.  
ELIGIBLE COMPANY CATEGORIES:
1. Start-up/early stage companies that are awarded a 
MTI Development Loan (DL); up to 10% of DL funds
2. Companies that have recently been chosen for a 
federal SBIR Phase I or II grant; up to 20% or 10% of 
Phase I and II respectively
DL Business Accelerator Grants can be submitted with a DL application OR anytime 
during the course of a DL project 
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Business Accelerator Grants are only 
eligible for specific activities
ü Eligible activities û Ineligible activities
• Business planning and business model • Activities already funded by SBIR/STTR or 
development Development Loan funding
• Evaluation of commercialization • Funding toward research and development 
opportunities and identification of resources activities
needed
• Evaluation of distribution channels
• Identification and analysis of target 
customers, strategic partners, etc..
• Development of target marketing strategy, 
including market research, analysis and travel 
to gather market data
• Capital fundraising, including creation of 
materials to attract potential partners and 
investors
• Strengthening of company financial 
management capacity and systems
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The DL Business Accelerator Grant for 
early-stage companies 
Before DL 
Approval   Submitted concurrently with DL application
• Mirrors Development Loan evaluation process
• Is not , however, reviewed by AAAS
• Notification of approval status same day as Development Loan
• Cannot be approved if Development Loan is not approved
After DL   Submitted at TechStart deadline anytime  
Approval   during DL project
• Submitted in conjunction with your MTI Portfolio Manager (Vanessa or 
Catherine) on a rolling basis
• Notification of approval can take up to 6 weeks
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Components of the Business Accelerator 
Grant for startup DL applicants
• Scope of work ( 2 pages; 50 points)
Application • Detailed plan of objectives (what, where and how it will be done)
narrative • Measureable outcomes showing progress toward commercialization 
and growth 
• Timeline corresponding to scope of work; timeline should not 
exceed timeline for matching Development Loan
• Impact on commercialization timeline ( 1 page; 25 points)
• Description of how grant will impact timeline or breadth of 
commercialization for the technology supported in DL application
• Description of how impact on commercialization timeline will lead to 
further positive economic impact in Maine
Budget summary • Budget appropriateness ( 2 pages; 25 points)
• Form B: Budget Summary at 
and budget www.mainetechnology.org/fund/business-accelerator-grant 
supporting • Budget supporting documentation and explanations including:
documents • Line-item expenses for project expenses
• Hours and hourly rates for project workers 
• Total funds requested through MTI’s Business Accelerator 
Grant
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Partners and Resources
 Small Business Development Center www.mainesbdc.org
 DECD – Governor’s Account Executives www.businessinmaine.com
 Maine Patent Program www.mainepatent.org
 UMaine Advanced Manufacturing Center [email protected]
Dept. of Industrial Cooperation [email protected]
Target Technology Center www.targetincubator.maine.edu
 Maine Center for Entrepreneurial Development www.mced.biz
 Maine Manufacturing Extension Partnership www.mainemep.org
 Manufacturer’s Association of Maine www.mainemfg.com
 Finance Authority of Maine (FAME) www.famemaine.com
 CEI Ventures Inc.  www.ceiventures.com
 CEI Community Ventures  www.ceicommunityventures.com
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Thank you and please keep in touch!
www.mainetechnology.org
8 Venture Avenue
Brunswick Landing
Brunswick, Maine 04011
207.582.4790
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