Issue link: https://nebusinessmedia.uberflip.com/i/1546430
W W W. M A I N E B I Z . B I Z 17 S E P T E M B E R 7 , 2 0 2 6 F O C U S S TA R T U P S / E N T R E P R E N E U R S H I P 'Trial and error' in aquaculture Saco Bay Sea Farms, founded by Michael Scannell in 2025, cultivates sea scallops, green sea urchins and sugar kelp. With two part-time employees and two interns, the company won the Maine Center for Entrepreneurs' Top Gun pitch contest this year and its $25,000 prize for a concept aimed at expanding access to aquaculture infrastructure. Mainebiz: How did the business roll out? Michael Scannell: We were fortunate to step into an aquaculture site that already had scallops in production, and we've continued building from there. We now have a significant number of scallops approaching market size. We'll start to sell directly to consumers once our new purpose-built boat is com- pleted, and we've had some early inter- est from restaurants. It's been exciting to build on that foundation and see where we can take the farm next. MB: What types of financing have you deployed? MS: Mostly personal savings, sup- plemented by grants and business- development programs. We received a $28,160 Northeast SARE [Sustainable Agriculture Research and Education) Farmer Grant in 2026 through a USDA- funded program. We participated in MCE's Top Gun program and won the 2026 pitch competition, and we've also participated in the Island Institute's Fishing Plus Accelerator and received support through the Maine Aquaculture Innovation Center. MB: How did you identify funding opportunities? MS: Being involved in Maine's aqua- culture industry for several years gave me some familiarity with the resources and funding opportunities available. Networking has also been incredibly C O N T I N U E D O N F O L L OW I N G PA G E » Scarborough, ME // Pittsseld, ME // Auburn, NH A FAMILYOWNED BUSINESS SERVING OUR CLIENTS SINCE 1948 AAAENERGY.COM Contact us to learn about customized HVAC-R service plans for your facility. HVAC, PLUMBING & ELECTRICAL 24/7 EMERGENCY SERVICE DESIGN/BUILD SERVICES COMMERCIAL REFRIGERATION BUILDING CONTROLS MAINTENANCE PLANS Building efficiency. It's what we do. You don't have to build everything at once or entirely out of pocket. — Michael Scannell Saco Bay Sea Farms P H O T O / C O U R T E S Y O F S A C O B AY S E A FA R M S Michael Scannell says startup funding for Saco Bay Sea Farms came mostly from personal savings, supplemented by grants and business-development programs.