Note that the eligibility and funding criteria for this program was revised as of 5/10/22.
All applications pending at that time and all future applications will be
evaluated based on the new criteria shown herein.
The MVP Program is Administered by:
Connecticut Center for Advanced Technology, Inc.
"Transformative Solutions for a Connected World"
The MVP Program is Funded by:
The Connecticut Department of Economic and Community Development
Funding Assistance to Help Connecticut Manufacturer's Innovate & Grow!
To help keep pace with state-of-the art product development and manufacturing technology,
the Manufacturing Innovation Fund Voucher Program provides companies with access
to capital to help them obtain new equipment and the
expertise they need to become more efficient, productive, and competitive.
Here's how it works:
Eligible companies can apply for vouchers up to $100,000 to conduct a new project.
The value of any proposed project must be at least $25,000
First-time applicants are required to provide a project match of 2:1 and repeat applicants 3:1.
Applicants must be seeking assistance for a project they are actively contemplating
but have yet to commit to. Projects where a contract has been signed, a Purchase
Order placed, or a deposit made in advance of submitting an MVP application
WILL NOT be considered for funding.
Companies and organizations may submit multiple project applications so
long as the aggregate amount awarded to any one company doesn't exceed
$100,000 over the life of the program.
Must be a Manufacturer or Allied Service Provider (Allied Service Providers only include companies that physically interact with a manufactured good to alter the product - for example industrial Heat Treaters and industrial Platers).
Must have a manufacturing facility in Connecticut or relocating operations to CT.
Must be registered for at least 3-years and currently generating revenue.
51% or more of the company's revenue must be generated from the sale of goods the applicant manufactures or from allied services provided to manufacturers.
Must have at least 3 full-time employees and no more than 100.
Proposed project value must be at least $25,000.
Must be operating in an appropriately zoned commercial area.
Must not have previously received MVP grant(s) amounting to $100K or more.
Technical experts in universities, educational institutions, nonprofits, or other organizations to solve engineering, marketing and other challenges, i.e. workforce development, supply chain network development, technology insertion, research and development
Market analysis
Business development
Financial transition and market growth planning
Testing or research to support proof of principle
Prototype development
Process Improvements
Commercialization and innovation services
Specialized Equipment for automation
Tooling development and manufacture
Quality System Upgrades
Other such costs that the Advisory Board and/or DECD deems eligible.
What are the in-eligible uses of funds?
The program has specifically identified the following activities as ineligible uses of the funds:
Debt restructuring
Ongoing operational costs/Working Capital
Loan payments
Costs related to the sale of disposal of business assets.
Lobbying
Workforce training
Motor Vehicles Requiring DMV Registration
Real Estate Acquisition
Construction related activities
Acquisition of an entire business or more than 50% of the assets of another business
What are the Manufacturing Innovation Fund Voucher Program requirements?
Total project value must be at least $25,000.
A third-party vendor or service provider must be used to execute the proposed project.
Only projects that have not been committed to and don't start until after submission of your application will be considered for funding.
A project match of either 2:1 (first-time applicants) or 3:1 (repeat applicants) will need to be provided.
Companies that receive an award under this program will be required to complete an impact report 6 months following the project's commencement.
What are the Matching Requirements?
Any award amount must be cash matched by the applicant as follows:
First Time Applicants
A minimum project match of 2:1 is required (First time applicants potentially receive a 33% project subsidy up to the lifetime program maximum of $100,000)
Example
Proposed Project Cost
Potential Grant Amount (Match 2:1)
Required Applicant Contribution
1
$25,000 (min)
$8,333
$16,667
2
$75,000
$25,000
$50,000
3
$150,000
$50,000
$100,000
4
$300,000
$100,000
$200,000
5
$500,000
$100,000 (max)
$400,000
Repeat Applicants
A minimum project match of 3:1 is required (Repeat applicants potentially
receive a 25% project subsidy up to the lifetime program maximum of $100,000)
Example
Proposed Project Cost
Potential Grant Amount (Match 3:1)
Required Applicant Contribution
1
$25,000 (min)
$6,250
$18,750
2
$75,000
$18,750
$56,250
3
$150,000
$37,500
$112,500
4
$300,000
$75,000
$225,000
5
$500,000
$100,000 (max)
$400,000
What information do I need to provide with my application?