Please do not leave this page until complete. This can take a few moments.
Courtesy / Gulf of Maine Research Institute
Gulf of Maine Research Institute, located on Portland's waterfront, announced Monday it is launching a for-profit Ocean Business Accelerator that would complement and support the nonprofit's mission.
The Gulf of Maine Research Institute is establishing an Ocean Business Accelerator to support the development of new business ventures and partnerships by leveraging private-sector market opportunities.
The Portland-based marine nonprofit announced the new initiative on Monday.
In a telephone interview with Mainebiz, GMRI’s longtime Chief Development Officer Blaine Grimes said the Ocean Business Accelerator will complement existing nonprofit programming with a portfolio of mission-based for-profit ventures. After a national search, Grimes has been hired to lead the new venture.
She said the Ocean Business Accelerator would work within the nonprofit, rather than as a spin-off, and revenues it might generate would go to support GMRI’s four-fold mission:
“The idea of an ocean business accelerator is something we’ve been thinking about for five or six years,” Grimes said, noting that there have been times when GMRI’s nonprofit structure did not easily fit in with for-profit opportunities that came up.
Funding to launch the initiative was provided by a mix of private philanthropic gifts and a $150,000 grant from the Maine Technology Institute.
She said GMRI’s “know-how” and research capabilities are obvious assets that could generate revenues either through partnerships with for-profit entities, or by new ventures seeking to advance business ideas and attract investment. In both areas, she said, GMRI’s for-profit efforts would be guided by the mission of “contributing to the New England marine industry’s economic health and development.”
Each mission-driven business venture within the accelerator will be incorporated initially as a wholly owned subsidiary and developed to support the long-term ecological and economic health of the Gulf of Maine bioregion, GMRI said in a news release.
“This is another way for us to support the Gulf of Maine ecosystem and the communities that depend on it to earn a living,” said CEO and President Don Perkins. “We understand the social, cultural, and financial importance of a strong marine economy — and this Ocean Business Accelerator is another tool for us to offer support.”
After conducting a national search, GMRI hired Grimes as its new business development officer to lead the initiative. Grimes, who has substantial private sector experience prior to joining GMRI, will be focused on mission-driven investment and business development in the Gulf of Maine bioregion.
“After 14 years of supporting our nonprofit mission by building philanthropic support, I’m excited to explore new ways to further our mission,” she said. “We’re focused on identifying and advancing market-based solutions to the challenges we’ve identified through years of research and work with community and industry partners.”
GMRI is pursuing opportunities for several business ventures with internal and external partners and plans to share details about each venture as they make progress within the Ocean Business Accelerator in the coming years.
Grimes said initially she is the only employee of the accelerator, but quickly added that GMRI’s 70 employees are resources available for her to tap.
“I’ve heard great feedback since our announcement, particularly from the philanthropic community that supports GMRI,” she said. “They see this initiative as stepping out and leading in a very different way” to strengthen and support the nonprofit’s mission.
The Gulf of Maine Research Institute, located at 350 Commercial St. in Portland, is an independent, objective and nonpartisan marine organization that pioneers collaborative solutions to global ocean challenges. The nonprofit is dedicated to the resilience of the Gulf of Maine ecosystem and the communities that depend on it.
The Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Learn More
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Learn More
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments