CEI Ventures closes 4th VC fund, James Demer discusses DemerBox's bumpy road, Fyood Kitchen launches a Kickstarter campaign, and more...
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Jan. 20, 2017
By Whit Richardson (@whit_richardson)
CEI Ventures closes on fourth VC fund
CEI Ventures has raised an additional $2 million to fully capitalize its fourth venture capital fund, Coastal Ventures IV. The $2 million, in addition to $7.2 million previously raised in 2015, will be put to work investing in socially responsible companies in Maine and elsewhere.
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Founder Forum
James Demer of DemerBox
James Demer is a tinkerer. He likes to build things in his basement. He's tried his hand at making his own bicycle frames, his own hot tub, his own speakers. Most of his efforts remain hobby projects, and his makeshift speakers likely would have remained that way, too, if it weren't for his co-founder. The basement-built speakers are now the flagship project of their three-year-old startup, DemerBox.
In an interview with Maine Startups Insider, Demer discusses the challenge of finding work-life balance, shares the story of how a tiny, $0.07 part almost sunk the business, and makes an admission many entrepreneurs are hesitant to say out loud.
Read the Founder Forum interview with James Demer >>
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Crowdfunding corner
Fyood Kitchen, a Portland startup that organizes amateur cooking competitions, has launched its anticipated Kickstarter campaign. Only a few days in and it has raised nearly $5,000 out of its $16,100 goal. The funds will be used on marketing and to expand its array of cooking equipment. Fyood, which won the Big Gig pitch competition last November, is based out of Fork Food Lab in Portland, itself a company that raised funds on Kickstarter. Maddie Purcell, Fyood’s founder, describes the cooking competitions as “Iron Chef-meets-Paint Nite events for Maine’s fun-loving, adventurous foodies.” The company is only five months old, but the traction Purcell has gained already has her thinking about how to expand Fyood Kitchen as a brand outside of Maine.
Briefly mentioned...
+ While the number of science and technology companies and jobs in Maine has increased over the past 20 years, the amount of R&D spending by both companies and universities has remained low, according to a new report authored by Cathy Renault, former director of Maine's Office of Innovation. Check out the report, or read Mainebiz's summary of it.
+ Advanced Infrastructure Technologies, a company formed in 2010 to commercialize an innovative bridge-building technology developed at the University of Maine, has signed an international deal that could give it a significant boost. Terre Armee Group, which oversees more than 30 construction and engineering companies across the globe, has agreed to market and distribute AIT's technology, called Bridge-in-a-Backpack, according to the Bangor Daily News.
+ Of interest to startup communities everywhere is a decision the Obama administration made before today's presidential transition to make it easier for foreign entrepreneurs to start their businesses in the United States. The Department of Homeland Security last week released its final International Entrepreneur Rule. It's scheduled to become effective on July 17, 2017. GeekWire has more.
Jobs
Seeking a full-stack engineer? A technical co-founder? A sales or biz dev superstar? Send me your job postings to make this a great resource!
+ CourseStorm in Orono is hiring a growth hacker—or what the company refers to as a "creative scientist—to help elevate its marketing and user-acquisition efforts. Details here.
+ BlueTarp Financial in Portland is hiring a senior software engineer.
+ Academic Merit, an educational software startup in Portland, is hiring a front-end developer and a software engineer.
+ SoundRink, a concert promotion company in Portland, is hiring a customer service rep.
+ Coria, a Maine-based data science and marketing consulting firm, is currently seeking an experienced UX developer with Axure experience to join its team. To apply, or for more information, send CEO John Hobart an email at jhobart@coria.com.
+ Flyte New Media, a digital marketing agency in Portland, is hiring a WordPress developer.
+ Environetix Technology Corp., a wireless sensor manufacturer in Orono, is hiring a RF engineer/RF technician.
+ Shines & Jecker Laboratories, a Portland-based web development shop, is hiring a part-time developer.
+ Dream Local Digital in Rockland is hiring for a host of positions.
+ Big Room Studios is hiring a front-end developer specializing in React, Angular, and Polymer. They're also looking for back-end developers with experience in Node.
+ Likeable Local is hiring a "customer success manager" and content strategy associate in its Portland office.
+ Double Blue Sports Analytics, with offices in Orono and Brunswick, is looking to hire software engineers. If interested, shoot them an email.
+ Vets First Choice continues to hire like mad. It still has job listings for several positions at its Portland office, from software and systems engineers to data analysts and a sales director.
+ CashStar is hiring a slew of design, engineering and biz dev positions.
+ Kepware Technologies is hiring software and web developers.
Calendar
Send me your event or calendar item for possible inclusion.
Tues., Jan. 24 — Hack Portland hosts Robot Hack Night from 7-10 p.m. at Big Room Studios' office on Thompson's Point. More details.
Wed., Jan. 25 — Maine Venture Fund is offering a free webinar on corporate governance from noon to 1 p.m. Find more details and register here.
Fri., Jan. 27 — Social Media Breakfast Maine kicks off the new year with "Making Time for Your Marketing and Growing Your Business," from 7:30-10 a.m. at Portland’s Masonic Temple on Congress Street. Tickets are $15. More details here.
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