ctmvp.ccat.usConnecticut Manufacturing Innovation Fund Voucher Program

Connecticut Manufacturing Innovation Fund Voucher Program (MVP) CTMVP Home Program Information Program Purpose Program Highlights Eligible Applicants Funding Uses Ineligible Uses Application Submission & Process Considerations Monitoring & Compliance Administrative Process Application Form Please note that we have received requests in excess of the total amount of funding that is presently available. Although the program is still accepting applications, all new applications will be placed in a queue as we work through the applications in hand. In response to the COVID-19 impacts, the MVP will give priority and focus to manufacturers realigning or expanding capacity and capabilities to respond to the shortages of critical medical equipment and supplies. This will include but is not limited to: Personal Protection Equipment, Isolation gowns, Face masks, N95 respirators, etc. Please note, processing of projects that are not COVID-19 related will be put on hold at least through the end of April . Effective April 13 — The MVP program will no longer be giving priority to applicants producing COVID related Eye Protection and Faceshields Effective April 21 — The MVP program will no longer be giving priority to applicants producing hand sanitizer CONNECTICUT CENTER FOR ADVANCED TECHNOLOGY CCAT validates and demonstrates leading-edge technologies and assists companies in adopting those technologies into the business operation. In addition, CCAT provides incumbent worker and advanced training to enable the business to fully utilize the new technology. Welcome, Connecticut Manufacturers! Connecticut manufacturing is renowned for its innovation, quality, and value. 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 $50,000 for the purchase of specialized equipment and expertise that will help improve operations, including marketing, LEAN, compliance, and other technical needs. Exception: Notwithstanding any prior grants under this MVP program, manufacturers realigning or expanding capacity and capabilities to respond to the shortages of critical medical equipment and supplies shall be eligible for a one-time grant up to $75,000. Eligibility shall be determined by DECD based on market prioritization; i.e. Shortages at the time of application. The amount awarded under this exemption maybe reduced by the amount awarded under any other DECD COVID-19 program. Participating companies must pay half of the cost. 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): Who can apply? 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 fewer than 300 employees. Proposed project value must be at least $10,000. Must be operating in an appropriately zoned commercial area. Must not have received $50K or more from MVP program previously (except for COVID-19 related projects). Must be in Good Standing with both the CT Department of Revenue Services and CT Department of Labor at time of application submission. What are the eligible uses of funds? 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 Patenting, licensing 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 Compliance and Monitoring activities Tooling development and manufacture Working Capital for manufacturers realigning or expanding capacity and capabilities to respond to the shortages of critical medical equipment and supplies in response to the COVID-19. Working Capital assistance will be considered to help stand-up new production or help expand existing production of critical medical equipment and supplies that are in short supply (i.e. Help with large purchases of raw material during startup and support the growth of receivables during ramp-up). 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 Loan payments Costs related to the sale of disposal of business assets. Lobbying Workforce training Vehicles Requiring DMV Registration What are the Manufacturing Innovation Fund Voucher Program requirements? Total project value must be at least $10,000. A third-party vendor or service provider must be used to execute the proposed project except for COVID-19 Working Capital related requests. Only projects that commence after submission of your application will be considered for funding (except for COVID-19 related 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 commencement. What information do I need to provide with my application? A project quote from a Vendor or Service Provider (if applicable) A facilities or equipment list A Budget Form for your project, included in the application packet. 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 meet the required funding match (i.e. bank statement, credit line availability, approved loan document, etc). How long does it take for my application to be processed? 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. Who selects the vendor or service provider? It is up to the applicant to select a vendor or service provider that is appropriate for the proposed project. How are vouchers distributed? Vouchers are awarded on a first-come first-served basis unless deemed to be a COVID-19 related priority application. Funding is provided in the form of a check. Checks are issued approximately 30 days following completion of the required award documents. Once your application is approved, vouchers are awarded on a first-come first-served basis. Am I guaranteed a voucher if my application is approved? Payment is subject to the availability of state funding for the program. Interested in applying? Fill out an Application Questions regarding the Connecticut Manufacturing Innovation Fund Voucher Program should be directed to ctmvp@ccat.us or by calling Paul Striebel at 860-282-4231 ....