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November 20, 2015

Startups in UMaine and MTI accelerator to pitch investors after completing program

The four Maine startups in a pilot accelerator program launched in September by the University of Maine and the Maine Technology Institute will pitch their ideas at a showcase event next month in Bangor.

The showcase, the first of its kind in Maine, according to program officials, is the culmination of three months of work in the pilot program, Scratchpad Accelerator, located at the University of Maine System office in downtown Bangor.

The team of advisers has worked for 200 hours with the companies over the last three months and facilitated connections among the companies and mentors, the group said in a new release. The startups also received funding, but the release didn’t say how much.

At the showcase, the four startups — CourseStorm of Orono, Double Blue Analytics of Orono and Brunswick, Tip Whip of Old Town and L&K Manufacturing of Bangor — give investment-style pitches to an audience of supporters, strategic partners, the general public and potential investors, the news release said.

The program will be held Dec. 11, from 4 to 7 p.m.,  at Seasons Restaurant in Bangor.

Jason Harkins, Scratchpad’s managing director and University of Maine associate professor of entrepreneurship, said the event will give the entrepreneurs a chance to present developments they are working on as they scale their businesses and pursue additional funding.

Joe Migliaccio, director of business development at MTI, said supporting the pilot program fits the MTI mission of offering early-stage capital and commercial assistance to Maine companies

“Demo Day will serve as an exciting capstone to this three-month program that has positioned the startup companies for the next stage of growth and capital,” Migliaccio said in a statement. “We are excited to showcase these founding teams, their new products, and the progress they have made.”

Clayton Kyle, CEO of CLYNK, the Maine bottle redemption company, will be the event’s featured speaking, discussing the evolution of the company and the role outside investment played in growing the company.

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