PORTLAND / LONDON (IT BOLTWISE) – Startup Maine receives $325,000 from the Maine Technology Institute to expand its operations. With this funding, the organization plans to hire its first full-time employee and scale its annual conference and other initiatives. The goal is to establish Maine as a center for innovation and entrepreneurship.
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Startup Maine, a nonprofit organization co-founded by Katie Shorey in 2018, is dedicated to strengthening innovation and entrepreneurship in Maine. With recently received $325,000 in funding from the Maine Technology Institute (MTI), the organization plans to hire its first full-time employee. This strategic decision is intended to support the organization’s growth and further develop its annual conference and other initiatives.
The role of the new hire, an Executive Director, will be critical to advancing Startup Maine’s strategic goals. Shorey, who also serves as president of Startup Maine, emphasizes the importance of this position to the organization’s future direction. The funding is part of a larger MTI program aimed at fostering innovation capacity and high-quality job creation in Maine.
In addition to Startup Maine, other organizations including Northeastern University’s Roux Institute, Bigelow Laboratory for Ocean Sciences and the Central Maine Growth Council also received funding. These initiatives are intended to strengthen Maine’s innovation landscape and establish the region as an attractive location for startups and investors.
An important aspect of the MTI funding is Startup Maine’s commitment to raise $450,000 in additional funding. These funds will help expand the team, achieve strategic goals and position Maine as an emerging hub for innovation. Shorey highlights that this support allows the organization to better connect founders with investors and resources and improve existing initiatives.
For the next Startup Maine Week, the organization plans to bring in renowned keynote speakers and offer special programming for investors and other stakeholders. The aim is to further increase the number of participants compared to last year, when almost 800 people took part. Shorey is optimistic about the organization’s future development and sees the current funding as an important step toward achieving Startup Maine’s long-term goals.
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