The Maine Center for Entrepreneurs has received a $50,000 grant from the U.S. Small Business Administration to support startups and entrepreneurs researching and developing STEM-related innovations. The SBA announced the award on Thursday.
The center is one of 60 startup accelerators and incubators from around the country to receive a grant from the SBA’s Growth Accelerator Fund Competition, according to a news release from the government agency. The funds are to be used to assist entrepreneurs, but not for direct investment in companies.
The Maine Center for Entrepreneurs will use this award to increase the awareness among Maine businesses of the U.S. government’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Currently, Maine is underrepresented in these programs, according to the release.
“With this award, MCE will identify companies eligible for Federal R&D funding through the SBIR/STTR programs and coach them through preparing to submit an application” Tom Rainey, executive director at MCE, said in a statement. “This initiative will further establish MCE’s new Emerging Technology Group aimed at commercializing innovative technologies. Whether they began in an inventor’s garage or through work conducted at one of Maine’s research-performing institutions, we are here to help them.”
Applicants to the competition submitted a brief presentation deck and an optional two-minute video outlining the organization’s overall approach, experience working with the targeted entrepreneur group, and key metrics that will be used to evaluate the success of the proposed plan. Panels of judges from the private and public sector selected the winning organizations.
“We congratulate the Maine Center for Entrepreneurs on being selected for this competitive award,” said Maine SBA District Director Amy Bassett. “SBA in Maine is delighted to support local, innovative, growth focused organizations like MCE through the SBA’s Growth Accelerator Fund. With this award MCE, under the leadership of Tom Rainey, will be able to assist more companies in exploring growth opportunities through the SBIR/STTR programs.”
