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W W W. M A I N E B I Z . B I Z 11 J U N E 2 7 , 2 0 2 2 F O C U S "We're helping build awareness around companies that are emerging. It's a lift up. It gives them the opportu- nity to tell their story and craft it for an audience they might not ever have to the chance to reach without programs like this," DeCastro says. "Programs like ours, as well as the SBA's work, the venture community, the tech and bio- sciences companies in Maine, all pull together and help elevate these ideas so that they may mature and become sizeable companies in Maine." e LaunchPad program is just one pitch competition in Maine. Others include the "Greenlight Maine" television series, and the finals of the intensive Top Gun entrepre- neur program at the Maine Center for Entrepreneurs. "All the pitch competitions work together closely to encourage entre- preneurs to pitch and do the crucial work to get their message across. We're here to elevate the companies, not to compete against each other," says Julene Gervais, a producer and host of "Greenlight Maine." e most intensive competition is Top Gun, which began in 2009 and offers a four-month program when participants learn basic business tenets, gain mentors, and get a cohort of like- minded entrepreneurs to grow with. "It's the type of program where you really get out of it what you put into it. Some really give it their all. A good 70% to 75% of participants are still in business today. We've had a couple of buyouts but most participants are looking to grow a small to mid-sized business," says Laurie Johnson, the Top Gun program manager with the Maine Center for Entrepreneurs. "Every year I say 'is is the best class yet,' and I mean it. Every year I'm so impressed with the quality of the entrepreneurs and the amount of energy and effort and time they put into it when most have day jobs and families and lives," Johnson says. "It's more about building and working on your business instead of a focus on the cash prize. It's a lot of effort to make if all you're doing is going for the prize money." Roux Institute: the new crown jewel In 2020, Northeastern University launched the Roux Institute in Portland with a donation of $100 million from the Roux Family Foundation, which was established by tech entrepreneur and Lewiston native David Roux and his wife, Barbara. "Roux itself is a startup within a global university system. We have the benefit of leveraging all Northeastern has to offer — 13 global campuses," says Chris Mallett, Roux's chief administrative officer. "We exist to drive economic impact in Maine." e institute aims to train workers in Maine and draw talent from around the world to work in areas such as artificial intelligence, life sciences and medical research. "We hope the next big company in Maine was incubated at Roux," says Chris Wolfel, the director of entrepre- neurship at Roux. "We want to grow hundreds and thousands of jobs." "It's a critical time for the ecosys- tem to show entrepreneurs they want them here. ere are a lot of individu- als who came here during COVID. e thing that gets them to stay is the talent pipeline. Portland to Boston is the same distance as San Francisco to Palo Alto. We want to attract people to New England and northern New England," Wolfel says. Over the past 18 months, 21 partici- pants or companies have gone through entrepreneur training at Roux and another 35 new companies will enter in the next year. Roux aims to double that number over the next three to five years, Wolfel says. "We're building global startups that just happen to be based in Maine," Wolfel says. Jessica Hall, Mainebiz staff writer, can be reached at jhall @ mainebiz.biz For more than 150 years, Machias Savings Bank has been Moving Maine Forward by helping businesses and communities in Maine find the "YES!" they need to thrive. We know that when Mainers are successful, we're all better off. That's why we work hard every day to provide the products, services, and solutions necessary to help make the hopes, goals, and dreams of Mainers a reality. "The bank of 'YES!'" is more than a way to remind people of what we do; it is, in fact, the reason we do it. So, how can we help you find your "YES!"? + machiassavings.bank S TA R T U P S — E N T R E P R E N E U R S H I P / P RO G R A M I N G S U P P O R T We're building global startups that just happen to be based in Maine. — Chris Wolfel Roux Institute

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