This document summarizes the work of Blackstone Accelerates Growth (BxG) in supporting entrepreneurs and innovation in Maine through programs like Top Gun, Accelerated Ventures, Innovate for Maine, and Maine Startup and Create Week. It discusses how BxG has helped over 200 companies grow through resources, connections, and training. Their efforts have accelerated the growth of startups and helped attract young talent to start businesses in Maine.
3. Blackstone Accelerates Growth catalyzes
the creation of an intentional
community of innovation; it
connects Maine’s entrepreneurs and
innovators, and supports the development
of high-growth businesses to help build a
dynamic economy.
4. Working with our partners, BxG leverages
available resources for entrepreneurs. Together,
we deliver a cohesive approach to growth and
create a statewide network to help next-generation
companies succeed and existing
companies reach their full potential.
7. 214 Companies assisted through September 2014
Have a 41% average growth rate
Have a 14% new hire rate, compared to a 0.8%
state average
Support an average wage that is 27% higher
than the average wage for all privately owned
entities in Maine
8. 15 high-potential Accelerated Ventures have
received targeted assistance to overcome
barriers to growth
Accelerated the development of 59 promising
entrepreneurs through the Top Gun program’s
training, mentoring and community connections
Provided entrepreneurial & innovation training
to more than 200 entrepreneurs in all parts of
Maine through Top Gun Prep and Innovation
Engineering
9. Kate McAleer moved from New York to Midcoast
Maine to re-invent the chocolate bar.
She tapped the Blackstone Accelerates Growth community to grow her
company, Bixby & Co. Success followed: acceptance into Whole Foods’
program to support food entrepreneurs, winning $30,000 at the Gorham
Savings Bank LaunchPad competition, and opening her own manufacturing
plant in Rockland.
"The business climate in Maine has
been very supportive and
nurturing for a young entrepreneur
such as myself. Top Gun Prep
followed by Top Gun provided point
on education in the midst of
expanding our business. Moreover,
the mentoring from highly seasoned
professionals, which still continues
today, has been extremely helpful for
me as we navigate the complexities of
start-up and growth."
10. At the start of 2012, Pika Energy founders were
developing breakthrough wind turbine technology
in Ben Polito’s basement.
In January, they started Top Gun. By June they were selected as a BxG
Accelerated Venture, pitching to the Maine Angels, and by summer 2013
their third Innovate for Maine fellow was working with them in their new
manufacturing space due to $1 MM in angel funding, $500,000 in total
funding from Maine Technology Institute, winning $30,000 in the GSB
Launchpad event and another $30,000 from the New England Clean
Energy Council.
“We also plan to stay active in the
BxG program. Not only do we want
to continue networking with the
industry experts Maine has to offer,
we also want to pass along
what we learn to other start-ups
and help BxG sustain its
success with the next-generation
of young companies.”
11. As an assistant hockey coach at the University of Maine,
Dan Kerluke had a vision to use technology to help
players achieve optimal performance.
Double Blue Sports Analytics first tapped
into the resources at the University’s
Target Technology Incubator. Kerluke
participated in the Orono-based Top Gun
program in 2013 and recently received a
development loan from the Maine
Technology Institute. With strong
demand for the next generation of
Double Blue’s products, BxG helped
Double Blue bring on key staff to
accelerate product development.
“The assistance came when we were under a time crunch and is a great
example of how all the BxG partners can play a key role in helping Maine
companies launch and then expand their businesses.”
13. Hometown
Company Location
Colleges
92 college students
matched with
more than 85 growth-oriented
companies to
accelerate innovation
projects
14. Changing perceptions about opportunities in Maine
Overall, how much did you like your internship?
“How much “0 = did Dislike you a lot like 10 = your Like a internship?”
lot”
9.1 Compared to other internships you may have had,
which do you prefer?
“0 = Other Internship 10 = Innovate for Maine”
8.8
After this experience, how likely are you
to pursue a career in Maine?
“0 = Not at all 10 = Very”
8.6
“Compared with internships, how much
did your prefer Innovate for Maine?”
“How likely are you now to pursue a
career in Maine?”
15. Susan MacKay has
hosted four Innovate for
Maine Fellows at her
company, Cerahelix.
“The Innovate for Maine program
brings needed expertise into
companies that could not afford it.
I could not afford the time, nor
attract the caliber of talent that I
received with my own resources.”
16. Tide Creative’s media guru, Dana Hopkins, got her
start with a summer internship.
“I feel very lucky that my first job is at a
start-up like Tide Creative because it’s letting
me get experience in multiple areas including
social media, customer support, blogging,
event coordination and even a little project
management. This opportunity never would
have happened without the Innovate for Maine
program, and I will always be grateful.”
17. Greenville native Emma Wilson didn’t expect to be
managing a start-up company right after graduation.
But, she seized the opportunity to bring Zeomatrix’s Zeo Litter Bags to market,
coining the company’s new catch phrase: “Saving the World, One Smelly Cat at a
Time.” That sense of humor and a strong pitch helped her win the most recent
Big Gig pitch contest and get the company’s Kickstarter campaign off to a great
start.
The internship “changed what I want
to do. I didn’t think it would be possible
to stay in Maine after I graduated, but now
I realize it’s possible to have a good career
and support myself right here in
Maine.”
19. More than 6,000 participants in innovation and
entrepreneurship connection events through
September 2014
Three innovation hubs with more in the works
More than 125 event opportunities for
entrepreneurs and innovators to connect
“When I speak with people today, I’m more apt to hear
about the great work being done by innovators
than I am to hear griping about how hard it is to do
business in Maine. No one is being naïve. Challenges…
still exist, but the can-do attitude has replaced woe-is-
us.” -Whit Richardson, PPH, September 2014
20. Connections to sought-after expertise in Maine
Ranging from…
Legal expertise at Top Gun
Coaches at Startup Weekend
Manufacturing assistance at UMaine
Industry experts at Maine Startup and
Create Week
21. 99 and counting entrepreneurs-in residence and
mentors in the Maine Mentor Network
22. Maine Startup and Create Week
Engineering serendipitous collisions between
people, ideas and resources
8 days
44 events
174 speakers
3,000+ attendees from 21 states
9.3 out of 10 net promoter score
“Blackstone Accelerates Growth is a critical leader of Maine Startup and
Create Week. Their work helped catalyze the collaboration that made the
week such an incredible success for Maine.” -Chris Hall, CEO, Portland
Regional Chamber of Commerce
23. At the most recent Startup
Weekend, Innovate for
Maine Fellow Brock Cassidy
became an entrepreneur.
Over the course of one weekend, with
help from coaches and supportive
doers, he was able to launch Day
with a Local, a service that offers unique
tourist experiences guided by local
experts. BxG has sponsored three
Startup Weekend events, with
more planned for the Lewiston/Auburn
and Bangor areas.
24. Twenty-Two Vodka, distilled in Brewer, Maine, has won
top honors in the nation’s most prestigious tasting
competitions, and the world needs to know.
That’s why co-owner Jessica Jewell entered the Big
Gig pitch contest, a key event in the BxG Bangor
Innovation Hub that brings together innovators,
entrepreneurs and people who want to be part of this
exciting community.
“Just getting to know people and
networking with other
entrepreneurs in the area has been
great. Plus, there is a whole new group of
people who know about our product
now.” ~BDN, April 2014
