KinoTek receives $60K MTI grant to accelerate product development
Summary
KinoTek, a software startup spun out of research done at the University of Maine, has received a grant of $60,000 from the Maine Technology Institute to accelerate development of its virtual and augmented reality platform with applications in the sports industry. The company’s software uses virtual reality, wearable sensors and motion capture technology to create “x-ray vision” that can be used to improve athletic output and reduce the chance of injury. It claims it has received early interest from national sports organizations that would utilize the technology to develop programs for professional athletes to optimize training and field performance. It provides critical interim funding while we continue conversation with institutional and corporate investors to strategically execute our seed round,” Justin Hafner, KinoTek’s co-founder and CEO, said in a news release. The company, which is now based in Portland, has managed to make some early headlines: “Having watched the company emerge as the winner of Greenlight Maine’s first collegiate series and engage in various business accelerators to help scale the company, it’s clear that KinoTek’s impressive multidisciplinary team is well-positioned to make an impact in the market,” MTI President Brian Whitney, told Mainebiz.