Scratchpad Accelerator announces Demo Day
The Scratchpad Accelerator, a pilot program of the University of Maine in collaboration with the Maine Technology Institute, has announced it will hold a Demo Day to showcase four of Maine’s prestigious startup companies.
The event, the first of its kind north of Boston, will display cutting-edge developments underway at each company from 4–7 p.m. Dec. 11 at Seasons Restaurant in Bangor. The event is open to the public and will include networking, food and a cash bar. Registration is online.
The four companies — CourseStorm of Orono; Double Blue Analytics of Orono and Brunswick; Tip Whip of Old Town; and L&K Manufacturing of Bangor — will give investment-style pitches to an audience of supporters, strategic partners, the general public and potential investors.
Clayton Kyle from CLYNK, a Maine recycling company with proprietary software and a streamlined process for managing bottle redemption in Maine, will be the event’s featured speaker. Kyle will talk about the evolution of CLYNK since its inception in 2004. He will focus on the major pivots the company has experienced, and the role that outside investment has played in driving the company forward.
“This night will be the entrepreneurs’ night to shine. After three months of working intensively on their businesses, this event will give them a chance to present the up and coming developments they are working on as they scale their businesses and pursue follow-on funding,” says Jason Harkins, Scratchpad’s managing director and UMaine associate professor of entrepreneurship at the Maine Business School.
The Scratchpad Accelerator, launched in September, provides the environment startups need to explore, pivot and grow their businesses in three months. The Scratchpad team has had more than 200 direct contact hours with the companies to help them shape their future and facilitated more than 60 connections among the companies and mentors. In addition to mentoring, participants have received funding and participated in networking opportunities, structured learning and more.
“The University of Maine plays a vital role in supporting economic development and entrepreneurship in the state of Maine,” says Jake Ward, UMaine’s vice president for innovation and economic development. “Demo Day represents the culmination of the hard work that the entrepreneurs in the Scratchpad Accelerator have put forth in the past three months with help from the University of Maine and MTI. I look forward to attending the exciting conclusion to this pilot program.”
“Supporting the Scratchpad Accelerator fits the MTI mission of offering early-stage capital and commercial assistance to Maine companies,” says Joe Migliaccio, director of business development at MTI. “Demo Day will serve as an exciting capstone to this three-month program that has positioned the startup companies for the next stage of growth and capital. We are excited to showcase these founding teams, their new products, and the progress they have made. We look forward to hearing from all the entrepreneurs in Bangor on December 11.”
Eaton Peabody has agreed to be the exclusive sponsor of Demo Day. The law firm has been actively involved in the program since the application process was open in August, including attending mentor events to having a representative who serves on the Scratchpad advisory board.
“Supporting Demo Day for Scratchpad aligns closely with our interest in supporting entrepreneurship in the state, especially those companies seeking private capital to scale,” says Jeff Spaulding, a shareholder at Eaton Peabody.
“We support a culture of innovation and believe that it’s important to participate in building an infrastructure in which innovative growth companies can have access to capital and talent, without having to leave the region,” says Eric Marshall, a business attorney with Eaton Peabody.
Scratchpad’s Founding Sponsor is Bangor Savings Bank Foundation. The Bangor Target Area Development Corporation is a Master Craftsman Sponsor and United Insurance is a Apprentice Sponsor.
Contact: Jason Harkins, 207.581.1999