CT Manufacturing Innovation Fund MVP
What is the CT Manufacturing Innovation Fund (CMIF)?
The Connecticut Legislature recently approved a $30 million Connecticut Manufacturing Innovation Fund to support the growth, innovation and progress of Connecticut’s advanced manufacturing sector. This Fund is administered by the Department of Economic and Community Development (DECD) and overseen by an 11-member advisory board.
Manufacturing Voucher Program (MVP)
A new Manufacturing Innovation Fund Voucher Program (MVP) funded by DECD offers a $3.5 million matching grant voucher program administered by the Connecticut Center for Advanced Technology (CCAT). The program provides matching grants of between $5,000 and $50,000 for manufacturers with no more than 300 employees and located in Connecticut or moving operations into the state.
The Program will consider projects that are expected to achieve substantial and measurable improvements to the company’s overall profitability and competitiveness.
- The total proposed project value must be at least $10,000 (including match).
- A third-party vendor or service provider must be used to execute the proposed project.
(CONNSTEP can be a key resource for many qualifying projects)
- Applicants must match grant awards dollar for dollar.
Companies that receive an award under this program will be required to complete an impact report 6 months following the project’s completion date.
What to Have Prepared Before Applying for Funding
What to have ready:
- A quote and budget form as attachments
- Status letter of Good Standing from the CT Department of Revenue Services (DRS)
- Status letter of Good Standing from the CT Department of Labor (DOL)
Where to Get More Information
Contact Paul Striebel at 860-282-4231
Eligible Project Areas for MVP Funding
The fund will cover a wide array of business improvement initiatives. You can see a full list of eligible funding uses here. CONNSTEP is an expert resource to call upon for many of the project areas, including:
- Process Improvements
- Marketing, Market Analysis and Business Development
- Workforce development
- Supply chain network development
- Commercialization and innovation services
- Compliance and Monitoring activities
- Financial transition and market growth planning
- Technology counseling
- Specialized Equipment for automation
- Industry Specific Training
As an experienced service provider in many areas eligible for the MVP program, we can help you determine the best improvement opportunities for your company. Get in touch with us for help defining your needs, determining the project scope, and gathering budget information to submit a quote for funding consideration under this program.Get in Touch
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