Maine companies learn about finances during 12-week program

Published: Jun. 15, 2022 at 4:49 PM EDT
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WATERVILLE, Maine (WABI) - It’s an exciting time for the inaugural cohorts in the startup accelerator program Dirigo Labs in Waterville.

They are learning all about finances, thanks to Maine Venture Fund.

Dirigo Labs is 12-week program launched by the Maine Growth Council to increase capital investment into companies located in central Maine.

Maine Venture Fund partnered with Dirigo Labs to work with the 12 companies in the first cohort.

They are teaching them all about the fundraising process as they grow their businesses.

They are also teaching them ways to identify sources of capital in Maine and beyond, including with the funding company itself.

”We do have a couple of companies that have added jobs since they started with us who have received grant funding. It takes sometimes typically longer than just 12 weeks to realize the upside but we continue to follow those companies,” said Susan Ruhlin, Dirigo Labs director.

“I think it’s a really exciting time in Maine right now. There’s a lot of energy, not just in southern Maine where it has been historically but more more recently in central Maine and and other regions throughout the state where this sort of entrepreneurial spirit which has always been a part of Maine is is finding more avenues to take root,” said Joe Powers, Maine Venture Fund.

Program directors say they are already seeing positive impacts within the companies.

The program ends next week.

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