Dirigo Labs gains national recognition as growth accelerator with SBA prize
Courtesy / Central Maine Growth Council
Dirigo Labs held a kickoff event for its 2023 cohort of startups participating in the accelerator program.
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Dirigo Labs, a regional startup accelerator in Waterville, was recognized at the federal level as a stage-one winner of the U.S. Small Business Administration’s 2023 Growth Accelerator Fund Competition.
The Waterville accelerator was one of 40 awardees out of a pool of 355 applicants and will receive a $50,000 cash prize to create a media lab for small business innovation research and small business technology transfer.
The target market for the media lab will be entrepreneurs and startups focused on science, technology, engineering and mathematics (STEM) and research and development.
Dirigo Labs has a mission to grow mid-Maine’s digital economy by supporting entrepreneurs building innovation-based companies. Operating under Central Maine Growth Council and supported by several organizations, academic institutions and investment firms, it brings together people, resources and organizations to support the launch of new startups.
“The $50,000 prize money will further fuel our efforts to forge a transformative innovation hub, and associated accelerator partnerships, in downtown Waterville, the region and beyond,” said Garvan Donegan, Central Maine Growth Council’s director of planning, innovation, and economic development. Stage-one winners were selected through a multi-tier review panel process with experts in entrepreneurship, business, innovation and strategic planning inside and outside the federal government. Applications and pitch videos were submitted by the finalists and reviewed by expert judges.
Dirigo Labs will now compete for an additional $50,000 to $150,000 later this summer. Stage-two cash prizes will support growth accelerator partnerships to further develop innovation ecosystems to fast-track building and scaling of STEM- and R&D-focused small businesses.
The competition’s goals are to:
- Increase the pipeline and success of STEM- and R&D-focused entrepreneurs and small businesses
- Increase the success of STEM- and R&D-focused entrepreneurs in accessing capital and resources to advance their businesses
- Incentivize innovation ecosystem stakeholders to provide equitable access to resources for underserved communities and industries
- Catalyze partnerships and relationships between stakeholder groups to strengthen the national innovation ecosystem
- Connect new and established participants in the national innovation ecosystem
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