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W W W. M A I N E B I Z . B I Z 3 J U N E 2 7 , 2 0 2 2 F RO M T H E S P O N S O R S I t's not easy to start a business, particularly in times like these. In Maine, the vast majority of our neighbors, families and friends depend on local businesses for their jobs. at's why we believe in doing everything we can to help the busi- nesses our communities rely on. Our team of small business specialists can connect you to the right resources to help you grow. There are so many wonderful organizations that support small busi- nesses in our state, from SCORE and the SBDC to FAME, the SBA and CEI, to name a few. GSB celebrates our dynamic entrepreneurial com- munity through LaunchPad, Maine's premier small business competition. Each year at our live pitch event, one Maine business earns our $50,000 LaunchPad Grant and another earns our $10,000 Emerging Business Award. We're a small part of a vibrant statewide entrepreneurial ecosystem ready to help you along your business journey, from getting started to selling your business and everything in between. Entrepreneurs are some of the hardest working, most driven people I know, but I've learned in my 20-plus years in banking, they can sometimes struggle to see the forest through the trees. at's where GSB comes in. We're eager to help our small busi- ness community thrive. Here's some advice to get your business ready for the next step. Assemble your team. You're likely the best at what you do, that's why you got into business, but you might not have experience in every aspect of operating a business. Besides, one person can't do it all (and do it well). Acknowledging areas of weakness can be one of the greatest challenges of being an entre- preneur. Surround yourself with local experts you trust: a banker, CPA, attorney, and insurance agent. We work with some of the best in Maine and are always happy to make a recommendation. Know your numbers. We want you to feel confident approaching a bank, investor, or community devel- opment organization for financing. Start by putting together a solid busi- ness plan and/or financial projections, creating a budget, and making sure you understand your numbers and how you interact with your money. Hiring a bookkeeper can be a great way to deepen your skills. Connect with us. Whether it's understanding what programs or opportunities might be available to you, exploring financing options, or simply walking through what we look for on a commercial loan application, we're here to help. Let's talk!. — Julie Viola Vice president, commercial banker and manager of small business banking, Gorham Savings Bank jviola@gorhamsavings.bank T he Maine Technology Institute (MTI) is proud to sponsor the 2022 Mainebiz Startup Hub. is pub- lication serves as a valuable resource to assist Maine's dreamers, doers, and risk takers as they embark on their founder's journey. e magazine is full of helpful information about the organizations and resources that are available to nurture and support entre- preneurs as they develop new products and services, encounter and surmount challenges, create and retain jobs, and grow and scale their operations. MTI is Maine's unique public- private partnership that helps catalyze innovation. We offer early-stage capi- tal and commercialization assistance in the form of grants, loans, and equity investments, as well as entrepreneurial guidance and mentorship, to achieve our core mission. As you will see on the following pages, Maine has a vibrant entrepre- neurial ecosystem and MTI is truly the focal point in helping to diver- sify and grow the state's economy. Since its creation in 1999, MTI has disbursed over $290 million across more than 3,000 distinct projects and leveraged over $1 billion in private sector matching funds. In addition to investments made directly into private companies, research organizations and educational entities, MTI also works to ensure that a complementary system of supports exists for entrepreneurs and businesses to make certain that they have access to the assistance they need to succeed. We do this by convening entrepreneurial support organizations through our Maine Accelerates Growth (MxG) initiative, and by providing funding to augment state and federal programs that provide business assistance and mentorship like the Small Business Development Centers (SBDC) and SCORE. We also promote entre- preneurship and interest in science, technology, engineering, and math- ematics by supporting things like the Maine Center for Entrepreneur's Top Gun business accelerator program, the Big Gig pitch competition in Bangor, Greenlight Maine, the Maine Science Festival, UMaine's Student Symposium, Startup Maine, and several business incubators around our state. We also recently expanded our programming at MTI by launching the Maine Entrepreneurial Resource Corps. is new program will help match Maine start-ups with reliable, affordable consultants who will assist in developing short-term projects to address specific skill shortcomings. MTI is committed to paying 50% of approved projects, making it a win-win for the entrepreneur and the resource provider. More information can be found here: mainetechnology. org/mti-funding/merc Finally, our statute requires that we help Maine individuals and com- panies interested in attracting a piece of the $3.7 billion that the federal government doles out annually in research and development funding. MTI provides free technical assistance and guidance to Mainers to help them develop competitive applications. We hope you enjoy the 2022 Mainebiz StartUp Hub. If MTI can ever be of assistance, please call us at 582-4790 or via our website at mainetechnology.org. — Brian Whitney President, Maine Technology Institute A resource for Maine's dreamers, doers and risk takers Every Maine business deserves a local bank We're a small part of a vibrant statewide ecosystem ready to help you along your business journey.