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Maine Accelerates Growth

Closing a Chapter, Writing the Next One: Maine Accelerates Growth

At the conclusion of a successful four years of work as Blackstone Accelerates Growth (“BxG”), the Maine Technology Institute and other partners announce the creation of a new consortium to support the increased growth in Maine’s innovation, startup and creative technology community.  In October 2011, The Blackstone Charitable Foundation provided a $3 million grant to launch the BxG program, an endeavor to create Innovation Hubs throughout the state to bring together programs and resources to support and grow Maine’s entrepreneurial ecosystem.  The work of this new consortium will build upon this program’s success. 

Read BxG’s 2015 Impact Report here.

Maine Technology Institute, the Maine Center for Entrepreneurial Development and the University of Maine’s innovation programs have announced Phase 1 of a new fund partnership with the Maine Community Foundation called Maine Accelerates Growth (MxG). Maine Accelerates Growth accelerates the growth of companies, communities, and talent by funding, creating, and leveraging high impact entrepreneurship and innovation programs and events through a collaborative and complementary network of organizations and individuals propelling prosperity across Maine.  

MxG is a sustainable, ten-year effort, to facilitate the investment in the infrastructure supporting high-impact entrepreneurs and the programs and events that help them grow. MxG will fund, create and leverage programs and events statewide.  

“We very proud of the progress and the success that have been made through BxG over the last few years,” said Brian Whitney, President of MTI,”MxG builds on that success and provides an innovative and flexible platform to bring in more stakeholders and doers so that we can both scale what works but also create broader collaboration and agile execution of existing effort and new efforts down the road.”

MxG is an innovative model of funding and collaboration. MxG’s Organizational Partners will create a new model for collaboration and coopetition among providers and events across the state of Maine.  The advisory group will continuously study emerging best practices to improve the approach and create an extraordinary future for Maine.  Initial Organizational Partners include the Maine Center for Entrepreneurial Development, and the University of Maine’s Innovation Programs, Green Light Maine, Maine Startup & Create Week, and Our Katahdin.  

Phase 1 of MxG is focused on building the stakeholders and resources needed. It will recruit additional matching investments, advisory partners and governing board members to grow and expand the effort.

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