Mainebiz

V O L . X X V N O. X I I I J U N E 2 4 , 2 0 1 9 6 N O T E W O R T H Y S T A T E W I D E U.S. Sens. Susan Collins and Angus King announced that the U.S. Department of Health and Human Services awarded $1.9 million to Maine's state-level Department of Health and Human Services to fund efforts to improve diabetes, heart dis- ease and stroke prevention programs throughout Maine. Cianbro wins $12M shipyard job Pittsfield-based Cianbro Corp., Maine's largest construction company, has been awarded a $12 million contract for an B U S I N E S S M A I N E Business news from around the state S T A T E W I D E S O U T H E R N Gulf of Maine Research Institute launches for-profit 'business accelerator' B y J a m e s M c C a r t h y T he Gulf of Maine Research Institute is establishing an Ocean Business Accelerator to support the development of new business ventures and partnerships by leveraging private-sector market opportunities. The Portland-based marine nonprofit announced the new initiative on June 10. GMRI's longtime Chief Development Officer Blaine Grimes told Mainebiz the Ocean Business Accelerator will comple- ment GMRI's existing nonprofit programming with a portfolio of mission-based for-profit ventures. She said the new entity would work within the nonprofit, rather than as a spin-off, and revenues it might generate would go to support GMRI's four-fold mission: Being a steward and advocate for a healthy Gulf of Maine ecosystem. Cultivating science literacy Supporting sustainable seafood Strengthening coastal communities. "The idea of an ocean business accelerator is something we've been thinking about for five or six years," Grimes said, not- ing that there have been times when GMRI's nonprofit structure did not easily fit in with for-profit opportunities that came up. Funding to launch the initiative was provided by a mix of private philanthropic gifts and a $150,000 grant from the Maine Technology Institute. She said GMRI's "know-how" and research capabilities are obvious assets that could generate revenues either through partnerships with for-profit entities, or by new ventures, that are seeking to advance business ideas, attract investment and lead partnerships that will contribute to the New England marine industry's economic health and development. Each mission-driven business venture within the accelera- tor will be incorporated initially as a wholly owned subsidiary and developed to support the long-term ecological and eco- nomic health of the Gulf of Maine bioregion, GMRI said in a news release. "This is another way for us to support the Gulf of Maine ecosystem and the communities that depend on it to earn a living," said CEO and President Don Perkins. "We understand the social, cultural, and financial importance of a strong marine economy — and this Ocean Business Accelerator is another tool for us to offer support." A new challenge for Grimes After conducting a national search, GMRI promoted Grimes, its longtime chief development officer, as its new business development officer to lead the initiative. Grimes, who has substantial private sector experience prior to joining GMRI, will be focused on mission-driven investment and business development in the Gulf of Maine bioregion. "After 14 years of supporting our nonprofit mission by building philanthropic support, I'm excited to explore new ways to further our mission," she said. "We're focused on identifying and advancing market-based solutions to the challenges we've identified through years of research and work with community and industry partners." GMRI is currently pursuing opportunities for several busi- ness ventures with internal and external partners and plans to share details for each venture as they make progress within the Ocean Business Accelerator in the coming years. Grimes said initially she is the only employee of the accelerator, but quickly added that GMRI's 70 employees are resources available for her to tap. "I've heard great feedback since our announcement, particularly from the philanthropic community that supports GMRI," she said. "They see this initiative as stepping out and leading in a very different way" to strengthen and sup- port the nonprofit's mission. B R I E F The Gulf of Maine Research Institute, a marine nonprofit based on Portland's waterfront, announced it is creating an Ocean Business Accelerator that will complement its existing nonprofit programming with a portfolio of mission-based for-profit ventures. P H O T O / C O U R T E S Y G U L F O F M A I N E R E S E A R C H I N S T I T U T E Tyler Tech crowns 2019 Maine App Challenge winners — Young minds at work One tiny house, one big housing idea Downeast — A small idea that needs wider consideration Museum L-A, undeterred by fire, seeks input on new building design — Striking while the iron is hot Maine lawmakers clear 'groundbreaking' solar bill — Maine has a long way to go to catch up, but this is a start Southern Maine single family home sales, prices soar in May — Inventory gets even tighter Preble Street workers unionize — Could this spell trouble for other nonprofits? Why this native Mainer moved out of Maine — Attracting people of all ages should be a top priority Saying goodbye after a 35-year career in journalism — Mainebiz's loss will be Jim McCarthy's gain as he ventures into retirement C R E D I T S & D E B I T S

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