The program that is called "Innovate for Maine" pairs students with Maine connections to local businesses.
UMaine said they can subsidize up to 90 percent of the internship cost for companies, and they're flexible with the program length.
Staff said the program aims to grow and create jobs right here in Maine.
Innovative Outreach Manager, Angela McCue, said "Our goal is to show students that there are a lot of incredible opportunities here in this state to do something meaningful and make a great life, and to show companies that these Maine college students are really coming out work ready. They're ready to join the work force and they have the hard skills and the soft skills to do that."
Students and interested companies can apply on the "Center for Student Innovation" page on UMaine's website.
The deadline has been extended to March 23rd.