- 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.
- Must be in Good Standing with both the CT Department of Revenue Services and CT Department of Labor at time of application submission.
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.
Dec 06 2022
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
"Strengthening Connecticut's Competitive Position"
Welcome, Connecticut Manufacturers!
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.
A program of the Connecticut Manufacturing Innovation Fund, the voucher program is a partnership of the state Department of Economic and Community Development (DECD) and the Connecticut Center for Advanced Technology, Inc (CCAT).
Want to learn more?
Here are some Frequently Asked Questions (FAQs):
- Assistance with new machinery acquisition
- 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.
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.
- 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
- 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.
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|
- 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|
- A project quote from a Vendor or Service Provider
- A program provided Budget Form for your project.
- A status letter of Good Standing from the state Department of Revenue Services (DRS)
- A status letter of Good Standing from the state Department of Labor (DOL)
- Evidence of the ability to complete the project and meet the required funding match (i.e. bank statement, credit line availability, bank letter, etc).
- The processing time depends on the number of applications ahead of yours in the queue
- You will be notified when your application comes up for review.
- You can monitor processing status online at http://ctmvp.ccat.us
- It is up to the applicant to select a vendor or service provider that is appropriate for the proposed project.
- Vouchers are awarded on a first-come first-served basis.
- Funding is provided in the form of a check.
- Checks are issued approximately 30 days following completion of the required award documents.
- Payment is subject to the availability of state funding for the program.
Interested in applying? Fill out an Application