The Waterville startup accelerator Dirigo Labs is rolling out several sequential program enhancements and upgrades for its fifth cohort.
“Dirigo Labs’ fifth cohort represents a clear evolution in how we support founders,” said Jeff Frank, Dirigo’s program manager. “We’re focused beyond ideas and inspiration to real infrastructure and impact.”
Dirigo Labs is a Waterville-based accelerator and innovation hub operated by the Central Maine Growth Council.
In the past four years, the program has helped generate $14.6 million in total sales and more than $21 million in total capital raised by its alumni companies, according to a news release.
To date, the accelerator has supported the creation of 150 jobs, 18 Maine-based incentives and nearly 18,000 customers. Participating founders have launched 115 products and services and established 48 partnerships.
Finance foundations
Looking ahead, the 16-week accelerator begins in February with Dirigo Model, an online financial foundations program focused on establishing a shared language around business management, unit economics, financial strategy and decision-making.
The goal is to equip founders with tools to evaluate tradeoffs, model growth scenarios and understand how strategy, pricing and capital interact over time. Companies will have access to an entrepreneur-in-residence who will provide tailored guidance, helping founders apply financial strategies to their specific business models in real time.
The Dirigo Model is open to any business seeking stronger financial fundamentals.
Product development
In March, cohort companies will complete Dirigo Build to focus on prototyping, product development, product-market fit, customer discovery and develop go-to-market strategies.
Rapid learning cycles will emphasize data-based iteration, as well as peer and mentor feedback to help refine products and strategies.
The elevator pitch
The final phase of the accelerator, Dirigo Raise, runs from April through May and focuses on translating a company’s strategy, product and financial projections into narratives for customers, partners and investors.
Founders will refine how they communicate the value of their solutions and participate in a public pitch competition where a panel of judges award financial prizes based on a set of categories. The program will focus on raising funds and leadership skills.
“We’ve built a phased, financially rigorous program that helps entrepreneurs understand what they’re building, how it scales, why it matters and what capital it actually requires to grow,” Frank said.
Expanded eligibility
The upgrades are paired with expanded eligibility and recruitment efforts for early-stage and growth-oriented companies ready to engage in product, financial and market development. Companies don’t need to be based in Maine to apply.
Applications for the Dirigo Labs accelerator are open until Jan. 23.