October 2011: The start of something BxG

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.

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.

Accelerating Companies

Accelerating the Next Generation

Accelerating Connections

Accelerating Companies

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

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

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."

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.”

“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.”

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.

Accelerating Next Generation

Hometown

Company Location

Colleges

92 college students matched with more than 85 growth-oriented companies to accelerate innovation projects

Overall, how much did you like your internship?“0 = Dislike a lot 10 = Like a lot”

9.1Compared 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

Changing perceptions about opportunities in Maine

“How much did you like your internship?”

“Compared with internships, how much did your prefer Innovate for Maine?”

“How likely are you now to pursue a career in Maine?”

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.”

“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.”

Tide Creative’s media guru, Dana Hopkins, got her start with a summer internship.

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.”

Accelerating Connections

Three innovation hubs with more in the works

More than 125 event opportunities for entrepreneurs and innovators to connect

More than 6,000 participants in innovation and entrepreneurship connection events through September 2014

“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

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

99 and counting entrepreneurs-in residence and mentors in the Maine Mentor Network  

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

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.

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.

“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

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.

What’s Next?

Coming in 2015 and beyond! Expanding collaboration

Expanding programs Expanding reach Expanding growth

To learn more…

www.blackstonegrowth.com www.facebook.com/BlackstoneAcceleratesGrowth