Reflections on 2026 Feedback Survey

This spring, Maine Venture Fund surveyed our portfolio companies, ecosystem collaborators, and Maine entrepreneurs to gather feedback on how we’re doing and what Maine’s entrepreneurial community needs. We heard from nearly 100 people – thank you to everyone who took the time to respond! We wanted to close the loop and share back a few themes from the feedback. 

On the positive side, across all three surveys, the most consistent praise centered on accessibility and trust: MVF is approachable and willing to engage thoughtfully even with companies in which we haven’t yet invested. Several portfolio founders noted that our term sheet helped catalyze their rounds, and that our board observers have been value-add. Collaborators also recognized MVF’s convening role — at events, through the Maine Startup Challenge, and in connecting founders to resources.

On the constructive side, a few themes surfaced with consistency across all respondent groups:

• More flexible funding structures. Entrepreneurs and collaborators alike called for more funding options: revenue-based financing, venture debt, SAFE notes, and smaller check sizes. We hear this clearly and are actively exploring how to expand the range of instruments we can deploy or connect founders to.
• Stronger connections to outside capital. Maine founders face a structural disadvantage when fundraising just from Maine investors, and need support connecting to investors further afield. Expanding our co-investor relationships and helping out-of-state investors connect with Maine companies is one of the most important things we can do. Note: We launched a program last year called All Stage, which is a platform that allows any investor in our database to engage with companies directly. Any Maine-based company (in and outside of the MVF portfolio) can sign up here.
• Earlier-stage investment. Many respondents shared how challenging it can be to raise a pre-seed round. Although MVF is focused on investing in companies with strong initial revenues, we hear this feedback and will continue to evaluate how we can support connections and resources at the early stages of company development. 
• Fractional executive support. Demand for part-time CFO, CTO, and other senior operational expertise was high. We are continuing to build our network of people, and we encourage folks to make use of Maine Technology Institute’s MERC database. 
• Greater ecosystem clarity. Several respondents noted that the landscape of Maine funders, programs, and support organizations can be confusing. For our part, we will better communicate our investment criteria and continue to coordinate and collaborate with our ecosystem partners.

The feedback confirms some things we already knew and surfaces challenges that deserve honest reflection. We are using this input to inform our near-term priorities to ensure that we are meeting the needs of the startup ecosystem. We will also continue sharing your policy feedback — on the Maine Seed Capital Tax Credit, housing, and workforce — with the people in a position to act on it.

Thank you to everyone who responded. We deeply appreciate your candid feedback. 

— The Maine Venture Fund Team