Maine's startup community is seeing a surge in activity
Don Gooding is back with financial cross training
Don Gooding, who resigned 18 months ago as CEO of the Maine Center for Entrepreneurial Development, has launched a new venture.
Four Colors of Money for Entrepreneurs is starting off as a blog, with webinars and a video channel to follow soon, he reports. A podcast is expected to launch next year.
Topics will include bootstrapping, grants, debt and equity — the four “colors” of money for entrepreneurs. Information and insights will be available at basic, intermediate and advanced levels. He's targeting entrepreneurs, existing small businesses and aspiring startups, as well as mentors, advisors, lawyers, accountants, bankers, educators.
“I call it, 'Financial cross-training to launch and grow your business,'” Gooding says in a press release. “I recognize that entrepreneurs' scarcest resource is time, so saving time in the pursuit of needed cash is the big value proposition.”
Venture Hall names two companies for investment
Venture Hall in Portland said it selected two companies to receive zero-equity investments of $25,000.
The companies were Cliexa, a Denver-based mobile platform that enables patients to track their chronic disease, and Janus Choice (januschoice.com), a St. Louis-based health care technology company. Venture Hall's program was developed in partnership with Village Capital, a venture capital firm. Awardees were selected by their peers.
“The peer review process drills down into the critical components of growth, based on many factors,' said Jess Knox, president of Venture Hall.
According to Venture Hall, the process helps startup teams identify challenges, prioritize efforts and plan milestones to reach the next level of growth and investment. In addition to a rigorous curriculum and regular coaching, teams were given the opportunity to work closely with subject matter experts at MaineHealth and Unum, providing vital context for their solutions in the real world.
CEI lands federal money
Coastal Enterprises Inc. in Brunswick said it was awarded $916,000 from the U.S. Treasury Department as part of its FY2017 Community Development Financial Institutions Program. The funds will be used to increase lending and investment in low and middle-income communities, nurturing shared prosperity in Maine and rural regions across the United States.
MTI opens grant proposal process
The Maine Technology Institute, which has said it will distribute $45 million in challenge grants as part of its Maine Asset Fund Technology 2.0 Lightning Round, has opened up the process. Requests will be accepted between Oct. 2 and Dec. 8 and will be reviewed on a monthly basis. MTI seeks project proposals from organizations in Maine that are planning to make investments in equipment, infrastructure and technology upgrades to drive innovation in the state. The grants are also available to companies or organizations planning to locate here.
Awards must be used for capital and infrastructure expenditures, such as equipment and facilities renovation.
MTI, located in Brunswick, is a publicly financed, private nonprofit.
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Venture Hall dissolves, $475K grant is canceled
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