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Libra Future Fund (LFF) Grant

Grants to Maine Business Owners Aged 18-29 for
Business Development and Commercialization Activities

Agency Type:

Foundation / Corporation

Funding Source:

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Libra Future Fund (LFF)

Deadline Date:

10/23/19 5:00 PM EST Email Receipt or Postmarked by Date

Description:

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Grants of up to $5,000 to Maine business owners ages 18 to 29 for commercialization and business development projects that will contribute to the State's economic growth. Funded projects are typically entrepreneurial, but research and economic development projects are also acceptable.

Examples of projects include, but are not limited to: Intellectual Property (IP) filing, market research and analysis, industry studies/certification, product testing/certification, R&D activities such as proof of concept work, prototype development, equipment, field trials, prototype testing, or pilot studies, crowd-funding/angel/venture capital investment requirements, or other commercialization and business development activity reasonably expected of idea, product, process or service development projects.

Projects must have clearly defined deliverable outcomes and endpoints for the specifically funded scope of work.

Maine Economic Benefit:
- Creation or retention of jobs
- Company survival or growth
- Increased competitiveness
- Company infrastructure investments
- Increased sales and revenue
- Increase Maine's capacity for research and development
- Patents, trademarks, copyrights and/or licenses
- Additional outside investment into the company

GrantWatch ID#:

GrantWatch ID#: 179960

Estimated Size of Grant:

Typically grants are up to $5,000 per applicant.

Term of Contract:

Projects must not exceed twelve months in duration.

Additional Eligibility Criteria:

Applicants seeking a LFF grant must be between the ages of 18 and 29 and reside in Maine at least 8 months per year. Applicant(s) who are within this age range must collectively represent at least 51% ownership of an entity which owns the business or project. Applicants residing in Maine, but who are attending school out of state, are also eligible to apply.

No overhead costs will be considered for funding.

Pre-Application Information:

Deadlines are January 23, April 23, July 23, and October 23.

Applications must be postmarked or e-mailed by the appropriate application deadline date by no later than 5:00 PM Eastern Standard Time.

Generally, funding decision notifications are made within one month of the deadline.

Applicants may seek input from a board member in advance (two or more weeks is recommended) of the application deadline to discuss their application or submit for review or feedback, upon the availability or discretion of the Member.

Applicants may be invited for an interview.

Contact Information:

Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.

Please email all application materials to:

Erik Hayward
erik@librafoundation.org
Phone: (207) 879-6280

Or mail to:

Libra Future Fund
P.O. Box 17516
Portland, ME 04112-8516

Maine Technology Institute Grant Applicants:
In lieu of completing this application, you may forward your Maine Technology Institute project application (e.g. Kick Starter, TechStart or Seed Grant), along with this application's Appendix A. For more information, see: http://www.mainetechnology.org/fund

URL for Full Text (RFP):

Geographic Focus:

USA: Maine