Maine Venture Fund partners with UpStart Maine to support Bangor region entrepreneurs
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Maine Venture Fund partners with Upstart Maine to support Bangor region entrepreneurs
Maine Venture Fund (“MVF”) is proud to announce a new partnership with UpStart Maine, a coalition of several Bangor-area organizations including Maine Center for Entrepreneurs, the University of Maine Foster Center for Student Innovation, Bangor Innovation Center, Maine Stream Finance and Big Gig, among others.
UpStart fuels a community of export, growth, and innovation-driven startups by connecting entrepreneurs to resources, customers, and each other. The program is generously sponsored by Maine Community Foundation, Maine Technology Institute, Machias Savings Bank, Rudman Winchell, LG&H Certified Public Accountants, the City of Brewer, Briggs Solutions for Business, and BNI Maine.
Maine Venture Fund is hopeful that this new partnership with UpStart will increase capital investment into high growth companies located in the Bangor region, and also provide an educational resource for any company seeking guidance on venture capital or fundraising in general. MVF will participate in UpStart Maine programming and events and work directly with companies to help them identify sources of capital in Maine and beyond, including but not limited to Maine Venture Fund itself.
UpStart Maine will join Dirigo Labs in Waterville as the latest MVF regional contact point, which allows MVF to better serve more diverse regions of the state, which is a strategic priority for the Fund.
Dr. Brien Walton, MVF Board Chair, commented, "UpStart Maine is a great example of how regional partners can align to provide more value to entrepreneurs and to the greater innovation ecosystem in Maine. Maine Venture Fund is proud to integrate more closely with UpStart and the outstanding organizations represented in this consortium, and we’re excited to work more closely with ambitious Bangor-area startups."
Katelynn Ronan, President of UpStart Maine, added, "Maine Venture Fund is a key addition to UpStart as a capital provider and educational resource. This partnership forges a stronger connection between Maine’s venture capital fund and Maine-based startup company founders.”
MVF expects to leverage both its 25 year history of demonstrated impact in Maine and its recently announced Microfund program to offer a wider range of equity funding options to the companies in the UpStart Maine orbit and in the wider central Maine region.
About UpStart Maine
UpStart Maine is the Bangor Region’s innovation hub that connects entrepreneurs statewide to resources to grow their business. UpStart is made up of a coalition of entrepreneur-support programs and organizations in the greater Bangor Region. To learn more about UpStart Maine, please visit UpstartMaine.org.
About Maine Venture Fund
Maine Venture Fund invests in dynamic businesses that have the potential for significant growth and impact in Maine. The Fund has invested over $25 million in Maine companies since 1997, after its creation by an act of the Maine Legislature as a revolving "evergreen" state-sponsored fund. For more information, visit maineventurefund.com.
For more information:
Katelynn Ronan, President and Director
UpStart Maine
KatelynnJRonan@Gmail.com
Terri Wark, Office Operations Manager
Maine Venture Fund
Terri@MaineVentureFund.com
