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Ecosystems

Senators Reach Across the Aisle to Pass Maine Coworking Bill

By | May 16, 2017 at 8:30 pm

Coworking spaces are a great place to build one’s business, develop relationships and expand an ecosystem. On Tuesday, bill LD 285 (Bill), “An Act To Provide Funding for the Maine Coworking Development Fund” passed the House last week in a party-line vote of 77 to 66. The Bill…

Education

Thomas College Receives $5.3M Alfond Grant for New Center of Innovation

By | May 13, 2017 at 2:30 pm

Thomas College announced a new initiative designed to promote innovation and spur entrepreneurial activity in central Maine. The Waterville-based college has created the Harold Alfond Institute for Business Innovation thanks to a $5.3 million donation from The Harold Alfond Foundation. This is the largest gift…

Interviews

Maine Media CEO Kevin Thomas On Learning From Failure

By | May 12, 2017 at 8:30 pm

Since 2014, Maine Startup & Create Week has been celebrating and highlighting the emergent ecosystem of creativity and entrepreneurship in the state of Maine, which is rapidly becoming a destination for cord-cutters and grassroots business people. The completely volunteer-run Maine Startup & Create Week will…

Startups & Apps

[Re]Produce Wins UMaine Business Challenge

By | May 12, 2017 at 9:15 am

A company that wants to turn Maine farmers’ surplus into high-end locally sourced frozen food has won the sixth annual UMaine Business Challenge, held in Orono. Anita van Dam and Grace Burchard, both students at College of the Atlantic in Bar Harbor, took home…

Startups & Apps

7 Startups in Venture Hall’s Inaugural Accelerator Cohort

By | May 11, 2017 at 9:15 am

A pain-management app, an AI-enabled medical records software company, and a cloud-based wellness tracking platform for employers are among Venture Hall’s first cohort of healthcare-related startups that will spend three months in Portland this summer scaling their businesses and expanding their networks. Venture Hall, which…

Funding

Redd Raises Nearly $1M in New Investment Round

By | May 6, 2017 at 2:30 pm

Brunswick-based Redd, the energy bar company, has raised the majority of a $1.5 million investment round. The company filed paperwork with the U.S. Securities and Exchange Commission on Wednesday revealing that it had raised $867,861 out of a $1.5 million offering. It claimed 13…

Funding

Ocean Renewable Power Company Restructures, Raising $2.5M in Series B

By | May 4, 2017 at 11:20 am

Portland-based Ocean Renewable Power Company is in the midst of raising $2.5 million in its second big equity round of fundraising. The renewable energy company has raised $1.31 million out of a $2.5 million offering, according to paperwork recently filed with the U.S. Securities and Exchange…

Coding

There’s a New Coding School Coming to Maine

By | Apr 26, 2017 at 9:15 am

Three Maine organizations are bringing a successful coding school to Maine in an effort to increase the public’s access to educational opportunities around software and web development, and to increase employers’ access to qualified developers. Earlier this week, Venture Hall, Thomas College, and Project Login, announced…

Business

Maine Startups Logged Zero VC Deals in Q1

By | Apr 21, 2017 at 8:30 pm

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…

Business

3 Signs That Vets First Choice Is Preparing for an IPO

By | Apr 19, 2017 at 8:30 pm

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…

Ecosystems

New Bill Seeks to Expand Maine Technology Institute’s Scope

By | Apr 9, 2017 at 2:30 pm

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,…

Funding

MTI Awards $1 Million in Funding to Local Companies

By | Apr 1, 2017 at 10:30 am

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…

Startups & Apps

Forager Emerges From Stealth Mode to Improve the Local Food Movement

By | Mar 28, 2017 at 9:15 am

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…

Startups & Apps

Surge Hydro Takes Top Spot at Pitch York County Finals

By | Mar 27, 2017 at 8:30 pm

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…

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