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W W W. M A I N E B I Z . B I Z 3 M A R C H 4 , 2 0 2 4 R ight now, small businesses employ one in two Mainers. From job creation to sector growth to innovation, it's almost impossi- ble to overstate the importance of small businesses in Maine. at's as true today as it was when Gorham Savings Bank was founded back in 1868. From our earliest days, we've always known that the health of Maine's small business commu- nity defines the health of all Maine communities. In the past 155 years, our com- mitment to Maine's small businesses has never wavered. In 2022 alone, we provided more than $32 million in small business loans and earned the U.S. Small Business Adminis- tration's prestigious District Direc- tors Award. In its first 10 years, our small business competition Launch- Pad, awarded Maine small businesses more than $500,000 in no-strings- attached grants. Every small business loan we write, and every Launch- Pad grant we award, is a part of how we're helping Maine small busi- nesses take that next, crucial step towards growth. We strive to be a force for good in the lives of everyone we touch. That 's always been our purpose. Whatever changes lie ahead, our commitment to small businesses will not be one of them. ank you for letting Gorham Savings Bank be part of your incredible journey. We look forward to a future marked by partnership, growth, and our unwavering support for the most Maine thing of all: your entrepre- neurial spirit. — Steve deCastro President and CEO, Gorham Savings Bank and the GSB Business Banking Team F RO M T H E S P O N S O R S Celebrating and supporting Maine's entrepreneurial spirit N estled conveniently off I-95, Waterville stands as a prime business destination, boasting the state's only active Foreign Trade Zone, F TZ No. 186, and a recent infusion of over $200 million into its downtown area. The flourish- ing infrastructure and innovation hub make central Maine the perfect locale for your business endeavors. Enter the Waterville Area Ven- tures Ecosystem (WAVe), a collab- orative effort of the Harold Alfond Institute for Business Innovation at Thomas College, the Central Maine Growth Council, and the Dirigo Labs accelerator. is unique ecosystem harnesses the collective power of aca- demic institutions, municipalities, a national mentor pool, coworking spaces, and more than 25 strategic partner organizations statewide. For those in the early stages of entrepreneurship, the Harold Alfond Institute for Business Innovation at omas College offers free assistance throughout the ideation to incuba- tion stages. Services range from mar- ket identification and customer dis- covery to developing a monetization framework and refining business mod- els. e overarching goal is to equip individuals and businesses with the resources and guidance needed to transform ideas into working pro- totypes or minimum viable products. e Dirigo Labs accelerator caters to later-stage startups, providing a 16-week immersive experience. Found- ers benefit from intensive mentor- ship, hands-on guidance, and access to a robust curriculum. Located in the Hathaway Creative Center, startup teams receive support in navigating fundraising, applying for grants, and leveraging state and municipal incen- tives. Dirigo Labs also hosts the Better Maine Conference, an annual event focused on diversity, equity, and inclu- sion, dedicated to attracting and sus- taining a diverse workforce. Since 2002, the Central Maine Growth Council (CMGC) has been the go-to resource for businesses looking to launch or expand in the region. Funded by municipalities, philanthropy, and private sector b u s i n e s s e s , C M G C s e r ve s a s the economic development and planning department for four municipalities. Services include site selection assistance, customized data collection and analysis, business plan and financial model analysis, access to incentive programs, and assistance with permits and public policy. CMGC's recent successful grant applications have added over $45 million to project funding, with efforts aimed at creating a robust economy and a high quality of life in the region. e recent and successful launch of the Economic Recovery Implementation Hub (ERIH) program supported by the Department of Economic & Community Development has provided technical assistance to racial, ethnic, and linguistic minority-owned businesses in Kennebec and Somerset counties in addition to awarding more than $400,000 in grant funding to businesses impacted by COVID-19. e WAVe ecosystem partners are poised and ready to guide your company's success, whether you're at the ideation stage or scaling up an existing business. — Mike Duguay Executive Director e Harold Alfond Institute for Business Innovation — Susan Ruhlin Managing Director Dirigo Labs — Garvan Donegan Director of Planning Innovation and Economic Development Central Maine Growth Council Launch well and grow in Waterville The health of all Maine communities depends on the health of our small business community. Discover Bookclubs, GSB's 2023 LaunchPad winner Bookclubs earned our $50,000 LaunchPad grant with Amply Energy taking home our $20,000 Emerging Business Award. Learn more about these great Maine businesses — and all of our 2023 finalists — at GorhamSavings.Bank/LaunchPad