Maine Accelerates Growth (MxG)

Maine Accelerates Growth exists as a community of organizational partners and doers. Its strength and success is the result of the collaborative strength of partners. Partners work together to achieve a vision of accelerating 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 Organizational Partners have been working to translate our principles and values into a funding distribution guidelines document and process, getting feedback from stakeholders and refining as we go. We are ready to put money out into the entrepreneurial ecosystem using these guidelines.

MxG Funding Guidelines (PDF)

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 new fund partnership with the Maine Community Foundation is 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.

MxG is an innovative model of funding and collaboration. MxG’s Organizational Partners are creating 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.  Additional Organizational Partners include the Maine Center for Entrepreneurial Development, and the University of Maine’s Innovation Programs, Green Light Maine, Maine Startup & Create Week, Our Katahdin, Thomas College, Bangor Target Development Corporation, Lewiston Auburn Economic Growth Council, Engine, and Midcoast Magnet.

Phase 1 of MxG is focused on building the stakeholders and resources needed. Work includes recruiting additional matching investments, advisory partners and governing board members to grow and expand the effort. MTI provided an initial $200,000 challenge to match contributions to the MxG fund at the Maine Community Foundation.