Whit Richardson is a former daily newspaper journalist in Portland, Maine, who has covered business and entrepreneurship for the past decade. He's founder of Maine Startups Insider and currently editor-in-chief of 4Front Publishing, an online news startup covering the nascent legal cannabis industry.

 

Recent posts by this Author


Maine Startups Logged Zero VC Deals in Q1

maine startups

While investors poured $13.9 billion into venture-backed startups during the first quarter of 2017, none of those dollars found their way to Maine companies, according to the MoneyTree Report, a quarterly tally of VC deals from PricewaterhouseCoopers and CB Insights. It’s the first quarter in more…

3 Signs That Vets First Choice Is Preparing for an IPO

IPO

Going public is a big deal for any company. It requires months of preparation, years of hard work, and decades of innovative thinking. And if you’re pay attention, it can be easy to spot these companies before they make the move. And while I…

New Bill Seeks to Expand Maine Technology Institute’s Scope

MTI Maine Angels Among Most Active Angel Investment Groups in 2015

A new bipartisan bill has been introduced in Augusta that would expand the Maine Technology Institute’s role within the state’s innovation ecosystem. The bill — LD 1324, An Act to Support Innovation, Entrepreneurship, and Maine’s Economic Future — would explicitly proffer certain powers onto the organization,…

MTI Awards $1 Million in Funding to Local Companies

VCs funding

The Maine Technology Institute awarded more than $1 million in grants and loans to 25 Maine companies and research organizations in February 2017. MTI awarded two Development Loans totaling $604,490, seventeen Seed Grants totaling $368,607, four TechStart grants totaling $19,725, and two Business Accelerator grants…

Forager Emerges From Stealth Mode to Improve the Local Food Movement

local food

More than three years after leaving a high-profile job as co-founder and CEO of CashStar, David Stone last week unveiled his newest startup, Forager. Forager has developed a digital platform with the goal to facilitate more efficient relationships between farmers and the grocers who want to source…

Surge Hydro Takes Top Spot at Pitch York County Finals

surge hydro

Surge Hydro continued its winning streak on Thursday evening as it took took the top spot, and the $1,200 first-prize purse, at the Pitch York County final event. The event, held at ThinkTank Biddeford, was the culmination of a series of monthly events that…

The UMaine Business Challenge Has Named Its 2017 Finalists

Five teams of college entrepreneurs in Maine have been selected to compete in the sixth annual UMaine Business Challenge. These college entrepreneurs will now be paired with mentors and have seven weeks to build a business plan before presenting it before a panel of…

Jean Hoffman Launches Family Foundation, Makes First Angel Investment

investment

Jean Hoffman has been busy in the ten months since she led her former pet pharmaceutical company, Putney Inc., through a $200 million all-cash acquisition. In that time, she’s purchased a commercial building in Portland, launched a family foundation that will be helping local nonprofits,…

Top Gun Accelerator Accepts 38 Startups into Class of 2017

Top Gun

Top Gun, a program of the Maine Center for Entrepreneurial Development designed to help entrepreneurs ramp up their businesses, announced today that 38 startups have been accepted into the 2017 class. The 2017 class will be largest in the accelerator program’s eight-year history. That’s due largely…

Maine Venture Fund Celebrates Third Exit in a Year with InterSpec

Company Maine

In early January, a Salt Lake City-based software company called ARCOM acquired InterSpec, a small, under-the-radar software firm in South Portland. InterSpec develops software and provides spec-writing services for the construction and architecture industries Gilles Letourneau founded the company in 1998. Financial details of the…

Surge Hydro Wins Award at National Cleantech Open for Low-Cost Hydropower Idea

surge hydro

An Belfast-based company working on utilizing our country’s existing hydroelectric facilities, won an award on Thursday evening at the national Cleantech Open contest in San Francisco. Surge Hydro received the national award for the “Business Model with the Best Chance for Immediate Investment and Commercialization,”…

Report: Maine SBDC Clients Secured $47.1M in 2016

Maine SBDC

Business owners who sought assistance from the Maine Small Business Development Centers (SBDC) raised $47.1 million in capital during 2016, more than any other year in the program’s 40-year history, according to the Maine SBDC’s recently released annual report. Maine SBDC surveyed 1,583 of their clients…

MaineHealth, Unum Commit $200K to Support Startup Accelerator in Portland

startup accelerator mainehealth

MaineHealth and Unum are betting that technology startups will drive significant innovation and growth within the healthcare industry, and are investing money and resources to attract some of those startups to Portland. The two companies — which are two of the largest employers in…

MTI Provides Grants to Seven Maine Companies

MTI Maine Angels Among Most Active Angel Investment Groups in 2015

While the Maine startup ecosystem goes somewhat unrecognized, the burgeoning tech and innovative startups are making some serious moves. The Maine Technology Institute has awarded $95,213 in grants to seven Maine companies in hopes of jump starting the ecosystem. To be more specific, MTI…

CEI Ventures Closes Fourth VC Fund at $10 Million

fund

CEI Ventures announced the closing of its fourth venture capital fund with nearly $10 million available to invest in startups in Maine and the Northeast. The Coastal Ventures IV fund has been operating for the past year since their raise of $7.2 million and initial closing in…

Maine Technology Institute Provides $1.2M to Help Industry Clusters

The Maine Technology Institute announced this week that it has provided more than $1.2 million to four organizations dedicated to growing  Maine’s high-potential, technology-enabled industry clusters. The grants, which come from MTI’s Cluster Initiative Program, were given to organizations supporting Maine’s agriculture, aquaculture, fisheries,…

NASA Sending UMaine Prototype to the International Space Station

NASA

A wireless leak detection system developed by graduate students at the University of Maine will be part of the International Space Station. It will be the first hardware from UMaine, at least in recent memory, that will function in space for a long period of…