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Welcome

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Co-working and Collaboration

Density – ConnectivityLucy Van Hook, Our Katahdin

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5 co-working spaces

2015 2016

17 co-working spaces

“There’s considerable evidence that co-working spaces are the key connection points for, and, often on the leading edge of, the growth of a tech community.” --Mulas, Victor, Michael Minges, and Hallie Applebaum. "Boosting Tech Innovation: Ecosystems in Cities: A Framework for Growth and Sustainability of Urban Tech Innovation Ecosystems."

There are more than 871 people using co-

working spaces around the state and

more than 350 companies.

Co-working & Collaboration

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Incubators, Accelerators & College

EntrepreneurshipDensity – Connectivity – Diversity Renee Kelly, University of Maine Orono

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College Entrepreneurship

In 2016, more than 560 students across Maine took part in classes on entrepreneurship and

innovation

There were 41 different courses offered to college

students.

There were 8 degree tracks or

concentrations

There are 8, very active, student

entrepreneurship clubs.

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Incubators & Accelerators

More than 75 different companies served in 2016

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Keynote Speaker Thomas Chapman – Chapman &

CoOmaha, Nebraska

Chapman and Company, LLC specializes in measuring the activity in entrepreneurial ecosystems, helping those ecosystems build programs to accelerate and sustain economic growth.

Bona Fides

2006 2007 2008 2009 2010 2011 2012 2013 2014 20150

20000000

40000000

60000000

80000000

100000000

120000000

0

5

10

15

20

25

30

35

40

45

50

Nebraska Risk Capital Investments 2006-2015

Funding Companies

1st Principles

What do you want for Maine?

Conventional Wisdom

Economic development is about jobs and investment.

Reality

New job growth comes from young companies.

Reality

2016 - ConAgra leaves Nebraska....

Nebraska Stuff

25 24 billion dollar enterprises have their HQ in Nebraska…

all but one started in Nebraska.

Building

Hard to get to a place, if you do not know where you are going.

Ecosystem

talent

talent finance

policy

comm

unity

customersmetrics

infrastructure

research

Institutionalinnovation

Not Ecosystem

talent

talent fie

infrastructure

research

ME

Genealogies

ACI Worldwide

MxG

Really awesome.

Support

Kauffman (and others) scrape national data. It lags.

Participation

You don’t.

InsightsRank City Raw Per Capita   Rank City Raw Per Capita

1San Francisco 580406.9 1246.5   1 San Francisco 580406.9 1246.52Dallas 94822.4 133.5   2 Santa Barbara 11464.5 257.83Atlanta 83347.8 145.9   3 Seattle 75441.9 202.14Washington DC 82319.8 135   4 Minneapolis 52860 1505Chicago 76073.1 79.6   5 Atlanta 83347.8 145.96Seattle 75441.9 202.1   6 Washington DC 82319.8 1357Houston 60009.6 90.1   7 Dallas 94822.4 133.58Minneapolis 52860 150   8 Madison 8305.7 129.59Miami 44107.1 73.4   9 Cincinnati 24812.1 115

10Philadelphia 37950.2 62.5   10 Hunstville 4985 112.111 Phoenix 33934.1 74.2   11 Indianapolis 19822.5 99.712Cincinnati 24812.1 115   12 Des Moines 6009 96.513Portland, OR 22712.4 95.1   13 Portland, OR 22712.4 95.114Charlotte 20103.5 82.9   14 Houston 60009.6 90.115 Indianapolis 19822.5 99.7   15 Lincoln 2681.2 82.916Baltimore 18693 66.8   16 Charlotte 20103.5 82.917Orlando 18074 75.7   17 Kansas City 16800.6 80.518Tampa 17381.7 58.4   18 Chicago 76073.1 79.619St. Louis 17266.8 61.4   19 Orlando 18074 75.720Kansas City 16800.6 80.5   20 Phoenix 33934.1 74.221Santa Barbara 11464.5 257.8   21 Miami 44107.1 73.422Madison 8305.7 129.5   22 Baltimore 18693 66.823Raleigh 7761.2 60.9   23 Philadelphia 37950.2 62.524Hartford 7520.1 62.1   24 Hartford 7520.1 62.125San Antonio 7234.4 30.3   25 St. Louis 17266.8 61.426Des Moines 6009 96.5   26 Omaha 5609.1 61.327Omaha 5609.1 61.3   27 Raleigh 7761.2 60.928Albuquerque 5142.8 56.7   28 Cedar Rapids 1564.2 58.829Hunstville 4985 112.1   29 Tampa 17381.7 58.430Charleston 3961.6 53.2   30 Albuquerque 5142.8 56.731Richmond (VA) 3633.4 28.6   31 Reno 2437 5432New Orleans 3419.5 27.1   32 Charleston 3961.6 53.233Honolulu 2971.7 29.8   33 Chattanooga 2715.8 49.6

34Memphis 2896 21.5   34 Portland (ME) 2608.3 49.635Chattanooga 2715.8 49.6   35 Peoria 1308.1 34.636Lincoln 2681.2 82.9   36 Athens 658.7 32.4

37Portland (ME) 2608.3 49.6   37 Fargo 757.3 32.438Reno 2437 54   38 Tallahassee 1214 32.139Little Rock 1898.3 25.9   39 San Antonio 7234.4 30.340Cedar Rapids 1564.2 58.8   40 Honolulu 2971.7 29.841Peoria 1308.1 34.6   41 Richmond (VA) 3633.4 28.642Tallahassee 1214 32.1   42 New Orleans 3419.5 27.143Fargo 757.3 32.4   43 Little Rock 1898.3 25.944Athens 658.7 32.4   44 Memphis 2896 21.545Springfield (MA) 527.4 8.3   45 Springfield (MA) 527.4 8.3

InsightsAll Capital

$100k-$1mm

Prototype Capital – Under $100k

Series A

Recommendations

1. Trust each other. Be humble and win together.2. Focus on founders first. What does she need? 3. Ecosystems succeed cyclically…don’t be discouraged

by a slowing down.4. Set audacious goals.5. Start more great companies.

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2016 Pitch Competitions &

Exits Density – Connectivity – Diversity

James Morin, UMaine Business Challenge

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Pitch Competitions

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Exits

In 2016, there was more than $300 million in major

company exits in Maine

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"Hoffman’s actions serve as an example of the positive impacts an acquisition can have on the community. When a local business is built and sold, it serves as a liquidity event for startup founders and investors who realize a return on

their financial investments and sweat equity. In cases where founders and early employees still retain significant amount of shares in the company, an exit (like Putney’s) potentially creates a number of newly wealthy individuals who may be

interested in using that capital to launch their own companies or invest in promising local startups."Whit Richardson, Maine Startups

Insider

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2016 Capital Investment

TrendsDensity – Connectivity – Diversity

Tom Rainey, Maine Center for Entrepreneurial Development

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Early-Stage Funding Total Deals Total Invested Exits

Slow Money Maine 26 $4,283,000

Maine Angels 26 $3,430,624(Approx. 50% Maine companies) Bangor Angels 4 $364,948

Maine Venture Fund 10 $1,175,424 3o 6 Seed Investments - $613,624o 4 Growth Investments - $561,800

Other Funding Sources (Loans/Grants/ Later Stage)Coastal Enterprises, Inc. Maine Community Foundation Finance Authority of Maine Maine Technology Institute Small Business Innovation Research Program (SBIR)

Investment Capital Trends

2016 – Almost $10 million in early stage capital was invested.

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Why We Host:Maine Technology Institute

Brian Whitney, President

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Thank YouSee you next year for #SOEMe18