Funding
There are a number of excellent funding sources in Maine for clean tech start ups.
Maine Angels was founded in 2003 to enhance regional economic development by providing a cooperative mechanism for qualified investors to collaboratively locate, investigate and make investments in promising early-stage companies. Maine Angels collective investments in companies typically range from $50,000 to $250,000 in most deals. In addition to providing financial capital, where appropriate Maine Angels members also provide intellectual capital to portfolio companies and the entrepreneurs who run them. Investments in companies based in Maine typically are eligible for Maine's Seed Capital Tax Credit Program administered by the Financial Authority of Maine (FAME).
CEI Ventures manages socially responsible venture capital funds. The company was founded in 1994 to mobilize private capital markets while advancing social goals. We accept investments from accredited individuals, foundations, banks and other organizations that are looking for socially responsible ways to invest their money in growing, entrepreneurial businesses and have thoroughly read the any offering document currently in effect.
MTI works with entrepreneurs, innovators, established businesses and institutions conducting research and development (R&D) to help them fund and grow their big ideas, connect to resources across the state and create results for Maine. Our programs help innovators accelerate progress to the market, leverage additional private and public investment, and ultimately, expand their economic impact in Maine.
The Finance Authority of Maine provides access to innovative financial solutions to help Maine citizens pursue business and higher education opportunities.
The SEGF is a professionally-managed venture capital fund that invests exclusively in Maine companies who demonstrate a potential for high growth and public benefit. The Fund has been actively investing in Maine companies since 1997, after its creation by an act of the Maine Legislature in 1995 to provide Maine companies and entrepreneurs access to patient sources of venture capital. The fund has received $13 million in capital contributions from the State of Maine and operates as a revolving, “evergreen” fund.
