MCED, E2 Tech get SBA grants
The Maine Center for Entrepreneurial Development said Tuesday that it and E2 Tech are among the winners of the 2015 SBA Growth Accelerator Fund Competition.
The $50,000 award will fund the operating budget for MCED's Top Gun program, a model for accelerating high potential Maine companies using mentoring, training and connections. The program is offered in Portland, Bangor and Rockland, and plans are underway to set up a fourth location in Lewiston/Auburn within two years.
E2Tech, which also won the award, was incubated at MCED.
The Top Gun program started in 2009 with 12 entrepreneurs in Portland, and it graduated 32 companies this year. The 110 total Top Gun graduates have generated more than $25 million in revenue growth, $7.5 million in capital formation and 100 net new jobs, according to MCED.
The SBA Growth Accelerator Fund is awarded to fund operating budgets for accelerators in parts of the country where there is less access to conventional sources of capital.
This year the award was given in consideration of the White House Power Initiative to empower entrepreneurs from all walks of life to participate in the innovation economy.
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