MTI awards $700K, Greenlight Maine names semifinalists, VC report continues to miss Maine deals, and more...
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Good evening. Spent most of the week in Phoenix for my day job, where it was 108... Here's what happened in Maine while I was away.
MTI awarded nearly $700K to 26 Maine companies in Q2
The Maine Technology Institute handed out nearly $700,000 in grants to 26 Maine companies during the second quarter of 2017.
The capital flowed to companies across a range of industry sectors, from healthcare IT to manufacturing to specialty foods. One TechStart grant also went to the University of Maine in Orono.
A few highlights:
Field Phyto-Nutrients LLC in Brunswick was the sole recipient of a Development Loan. The company received a low-interest loan of $203,062, which it matched with $222,074, to develop an economic feasibility study for a commercial-scale plant where it would grow micro algae in a proprietary system. The company uses the algae to extract docosahexaenoic acid, an omega-3 fatty acid that is a sought-after nutritional supplement, which it would brand and sell as PhytoCortX Liquid.
A company called Veebie Inc. in Portland wants to build a fleet of "foodbots"—basically mobile self-service food kiosks. The company received a $5,000 TechStart Grant to conduct market research.
Blue Barn LLC, dba Bluet, the company that recently received $100,000 by winning the second season of Greenlight Maine, secured a $25,000 Seed Grant from MTI. The company, which makes sparkling wine from Maine blueberries, will use the funds to develop a new screw-top, higher-volume, value-priced wine with national sales potential.
Read more at Maine Startups Insider >>
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26 cos. vying for $100K in Greenlight Maine's 3rd season
Greenlight Maine is gearing up for its third season, beginning in September, and has selected the 26 companies that will compete on the weekly television show for $100,000. Some familiar names are in the mix (Flowfold, CourseStorm, Forager, Zootility Tools), as well as some relatively unknown names (NibMore, Pyxie, Vango, Iquarium). Garbage to Garden won the first season, while Blue Barn LLC, dba Bluet, recently won the second season.
Read more at Maine Startups Insider >>
Microsoft cites Maine's Axiom in report on rural broadband
Microsoft recently released a comprehensive plan to address the fact that 34 million Americans still lack broadband Internet access in rural America. In its plan, which involves using TV white space to provide high-speed broadband service in rural areas, it highlights 12 partnerships it has formed across the country to address the problem, one of which is with Axiom Technologies in Machias. The New York Times and Bangor Daily News have more.
National VC report continues to miss Maine deals
The new quarterly MoneyTree report, which tracks national venture capital activity, cites one deal happening in Maine during the second quarter (and doesn't even include the value), despite the fact that there were at least two other deals that Maine Startups Insider reported on.
The unnamed deal was NBT Solutions' seed round, which I reported on last month, according to a spokesperson for the report, which comes from PricewaterhouseCoopers and CB Insights. The spokesperson said the report didn't include the deal's value because it couldn't discern what amount came from the Maine Venture Fund and how much came from other sources. I reported that the round was $773,333. At issue is the MoneyTree report's recent decision (prompted by CB Insights taking over the data gathering) to change its methodology, opting to no longer count investments from quasi-state VC firms like MVF. MVF led NBT Solutions' seed round, investing $200,000, while CEI Ventures, which the MoneyTree report does count, invested $350,000. The rest was made up by local angel investors.
MVF's involvement in Academic Merit's $600,000 equity investment round, which closed during the second quarter, is likely also why this deal didn't show up in the second-quarter report. Pika Energy also raised a $2 million convertible debt round during the second quarter (convertible debt can later convert to equity shares), which isn't included in the report.
Nationally, the report claims there was $18.4 billion invested across 1,152 deals. Mainebiz's Lori Valigra wrote more about the report's national findings.
Other news
+ Zootility Tools, which has found success in leveraging crowdfunding to launch products, just kicked off its 6th Kickstarter campaign. The company is raising money to fund the initial run of a product it calls Tülry, which is a necklace that features a number of stackable tools, including screwdrivers and hex keys. The company claims its necklace-cum-toolbox will launch a whole new product category in fashion: "functional jewelry." After only two days of a 30-day campaign, the company has already raised $5,786 (as of Friday afternoon) out of a $10,000 goal to fund the initial run of the necklace-cum-toolbox. The Press Herald 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!
+ Welnys, a tech startup that's developed a wellness marketplace and dashboard for employers, is seeking a Head of Engineering. Tech skills required are Node.js and SQL. Familiarity with React, tech ops, APIs, web services, cloud, and security are bonus. Non-technical skills: ability to advise CEO on trade-offs and timelines, familiarity with agile/scrum, self-directed. Will work with existing part-time team of front-end developer, UX designer and project manager. Welnys is a post-product, post-revenue startup (current clients include PayPal and Stanley Black & Decker) that's planning to raise funding in September. Compensation is equity-based to start with salary upon funding. Very flexible regarding hours/remote work pre-funding. Welnys, while based in Texas, is a member of Venture Hall's inaugural accelerator cohort in Portland. For more info about this job, email heather@welnys.com.
+ Forager, an early-stage tech startup in Portland with a B2B platform for sourcing local food, is hiring an account manager.
+ Pika Energy in Westbrook is hiring an office manager and a director of electrical engineering.
+ Big Room Studios, a software and web development firm in Portland, is hiring a project manager.
+ CourseStorm is looking for a software engineer. Bangor-based is preferable, but the company is open to a remote worker if the right candidate was to come along.
+ Rapport is looking to hire a Senior Sales Rep and a Ruby/SQL developer in Portland.
+ BetterLesson, a Cambridge-based edtech startup, is hiring for a few sales and marketing positions. The right person does not need to be based in Boston, according to BetterLesson's Chief Revenue Officer, Betsy Peters, who lives in Freeport. The company is hiring a Director of Sales, Director of Marketing, and an Inside Sales Account Executive.
+ Certify in Portland is hiring a full-stack developer and several sales and marketing positions.
+ NBT Solutions in Portland is hiring a geospatial developer, a technical SaaS sales lead, and a marketing programs coordinator to support its VETRO FiberMap product expansion.
+ BlueTarp Financial in Portland is hiring an engineering manager.
+ Academic Merit, an educational software startup in Portland, is hiring a software engineer.
+ Environetix Technology Corp., a wireless sensor manufacturer in Orono, is hiring a RF engineer/RF technician.
+ Dream Local Digital in Rockland is hiring for a host of positions.
+ Vets First Choice still has job listings for several positions at its Portland office, from a UX/UI design to a director of e-commerce.
+ CashStar is hiring a UX designer and full-stack software engineer, among other positions.
Calendar
NOTE: In an effort to make this calendar of events more accessible, I've created a shareable Google calendar that I hope to keep updated. You can find the calendar here. Feel free to share it. As always, send me your event or calendar item for possible inclusion.
Tues., July 18 — Hack Portland hosts Game Hack Night from 7-10 p.m. at Big Room Studios on Thompson's Point in Portland. More details.
Tues., July 25 — Hack Portland hosts Robot Hack Night from 7-10 p.m. at Big Room Studios on Thompson's Point in Portland. More details.
Thurs., July 27 — Global Shapers Portland Hub hosts an event, "Making it in Maine: Getting by in the Gig Economy," at Space Gallery in Portland. 6-8 p.m. More details.
Tues., Aug. 1 — Hack Portland hosts VR Hack Night from 7-10 p.m. at Big Room Studios on Thompson's Point in Portland. More details.
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