ELLSWORTH — The Maine Community Foundation announced a new two-year grant program “The Start Up/Scale Up Fund” for Maine organizations supporting entrepreneurs and innovators at its annual Invest in Maine Summit Nov. 13 at the Cross Insurance Center in Bangor.
“The Start Up/Scale Up Fund is designed to support nonprofit organizations and programs that help new ventures start and grow through shared work spaces and incubator and accelerator programs,” said Maggie Drummond-Ball, Maine Community Foundation senior program officer.
The fund will launch early next year and award $400,000 in 2020-2021. Maximum grants of $25,000 will cover program expenses and capital investment in equipment, technology and buildings.
“The community foundation is committed to Maine entrepreneurs and innovators, and this new fund is one way we can support the networks that help foster innovation,” said Steve Rowe, Maine Community Foundation president and CEO.
The Nov. 13 summit, “Maine Grown: Building a Future on Big Ideas,” included a panel of Maine entrepreneurs and breakout sessions on equity and inclusive entrepreneurship, rebuilding rural America through innovation and Maine’s strategy to drive innovation and entrepreneurship. Maine Community Foundation also premiered a video highlighting Maine entrepreneurs and the people and organizations who support them, and co-hosted a pitch event with Blitz, the Bangor Area Entrepreneurship Conference.
Headquartered in Ellsworth, with additional personnel in Portland, Dover-Foxcroft and Mars Hill, the Maine Community Foundation works with donors and other partners to provide strong investments, personalized service, local expertise, and strategic giving to improve the quality of life for all Maine people. To learn more about the foundation, visit mainecf.org.