UMaine announces Bangor region Top Gun Entrepreneurship Accelerator class

The University of Maine has announced the selection of the Bangor region 2016 Top Gun Entrepreneurship Accelerator class.

Top Gun is a four-month program that combines entrepreneurship curriculum with mentorship and culminates with a statewide event, which includes a pitch-off and product showcase. Top Gun is hosted in the Bangor region by UMaine and is offered in partnership with the Maine Center for Entrepreneurial Development based in Portland. Additional cohorts will participate in Portland and Rockland.

The companies in the Bangor class range from Revolution Research, a business started by a UMaine graduate student who is developing rigid foam insulation made completely from bio-based materials; to Print Bangor, a printing company seeking to combine big print shop capabilities with localized service. Other participants represent diverse industries such as publishing, funeral services, manufactured products, and food and beverage.

While each company is different, they share a high aspiration to achieve growth.

Of the 117 companies that have been through Top Gun statewide since 2009, 40 percent are generating revenue at an annual rate of up to $1 million. Most of the rest are in product and business model development, with a handful still in research or in the product and business model definition stage.

One of the participants, Dr. Daniel Steinke of Dental Health Advantage Plan is growing a business to help individuals access affordable dental care.

“When introduced to the Top Gun program concept, we immediately thought we could tremendously benefit from having the expert mentorship and guidance from the program,” he says. “We are excited to be a part of the program and anticipate the input catapulting our new business endeavor.”

The program will begin Feb. 27 with an orientation session for all participating companies statewide. A regional pitch-off will be held in Bangor on May 18 to select companies that will get to pitch in the statewide showcase May 25 in Portland.

Throughout the program, the entrepreneurs will refine their business model and company pitch with the assistance of mentors from the Bangor region and beyond. The sessions will be based at the Target Technology Center and Incubator in Orono.

The Bangor Target Area Development Corp. (BTADC), which owns and manages the Target Technology Incubator, is the platinum sponsor for Top Gun in the Bangor region. BTADC is a private, nonprofit economic development corporation focused on the Bangor region’s startup economy.

“For 15 years we have been helping new technology companies get their start,” says Evan Richert, president of BTADC. “Top Gun has served several of our incubating companies, and in turn some of the Top Gun graduates in their business development stage become tenants or affiliates of the Target Technology Center. Our sponsorship continues this close partnership.”

“The University of Maine is proud to organize and support the Bangor region class of Top Gun,” says Renee Kelly, director of economic development initiatives at UMaine. “Several of the participating companies have ties to the University of Maine and the program aligns with our mission to support innovation that will grow Maine’s economy.”

The 2016 Top Gun Bangor region class:

• Elizabeth Keating — Botanical Brews & Happy Kids
• Kasey Smith — Eternav
• Elena Metzger — Print Bangor
• Kelly McClymer — Kelly McClymer Books
• Feras Elyounis — Half Auto
• Simin Khosravani and Nadir Yildirim — Revolution Research Inc.
• John Rasanen — Tips
• Niles Parker — Science Around ME
• Daniel Steinke, Ted Morgan and Dave Pier — Dental Health Advantage Plan
• Mandy Fountaine — Bar Harbor Catering Co.

Contact: Renee Kelly, 581.1454