Ready, set, pitch your Maine business in LaunchPad contest
Photo / Courtesy of Maine Community Bank
Finalists in Maine Community Bank's LaunchPad competition will be notified in late September and take the stage at an Oct. 21 event in August. This was the drum-roll moment at last year's final.
A $50,000 grand prize is up for grabs for an innovative Maine business in Maine Community Bank’s LaunchPad competition.
Applications for the 12th edition of the annual contest opened this week, offering entrepreneurs based in the state to win financial backing to scale their business.
Last year’s winner was Alivo, an AI-powered sales assistant for home service providers. To meet growing customer demand, the South Portland-based company used its prize money to hire two full-time positions, according to the contest organizer.
Maine Community Bank, from the merger between Gorman Savings and Maine Community Bank completed in January, took over the contest initiated more than a decade ago by Gorham Savings.
“We believe in supporting entrepreneurship and helping local small businesses prosper,” said Steve deCastro, CEO of Maine Community Bank. “For over a decade, LaunchPad has proudly empowered early-stage Maine companies with funding, visibility, and local connections—the essentials for fostering a thriving business community.”
Applications are due by 5 p.m. on Thursday, Aug. 15, and finalists will be notified in late September. They will take the stage at Oct. 21 event in Portland.
In addition to the grand prize, the winner of an Emerging Business Award will receive a $10,000 grant plus $10,000 of in-kind services from a group of Maine-based providers. Five additional finalists will showcase 60-second pitch videos during the live event to compete for that prize.
Contestants will be judged by John Burns, director of corporate engagement at the University of Maine; podcast host Kristine Delano; and Bixby Chocolate’s Kate McAleer, who won the contest in 2014, at the live event.
Judges will consider the quality of each pitch along with the viability, scalability, uniqueness, management and impact of each business.
More information
Find out more about the contest and submit an application here. The live pitch competition will take place on Tuesday, Oct. 21, at the University of New England's Innovation Hall in Portland.
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