Tech startups sought for Roux Institute residency program
File photo / Peter Van Allen
The Roux Institute is leasing space from WEX Inc. in a new building at 100 Fore St., where the new residency program for startups will also be based.
As Northeastern University's Roux Institute sets out to turn Portland into a technology and life sciences "innovation hub," the academic center is launching a residency program for startups focused on those and other areas.
The institute, whose Portland home is in a downtown space leased from WEX Inc., is seeking early-stage technology companies to be co-located there for 12 months beginning in January.
Selected participants in the Roux Institute Startup Residency will be able to work alongside other resident companies and Roux Institute research terms as well as interact with Roux Institute students and corporate partners, which include WEX and Tilson.
Resident companies will also have access to the institute's innovation experts for project supports and will be allocated a full-time co-op student from July through December.
Chris Wolfel, the Roux Institute's director of entrepreneurship, told Mainebiz that the program is open to companies based inside and outside of Maine, and that the first cohort would consist of between three and five companies. He said that a handful of applications had come in already.
"For this program we’re looking for technology-based companies who are excited to stay in Maine or relocate a significant portion of their team to the state," Wolfel said.
He added that while ideal companies will be using applied artificial intelligence in life sciences, materials and manufacturing, modernization of natural resources and cybersecurity, "we encourage everyone to apply."
Katie Shorey, president of Startup Maine and director of engagement at Live + Work in Maine, said she's excited about the "boldness" of the residency program.
"Because some startups lack the sufficient safety net to take on the risk of building a business it’s too difficult for many Mainers to start businesses," she said. "We need more financial incentives to get more people into our startup ecosystem — and also grow the ones that currently exist here."
"It's my hope," she added, "that the successes stemming from the Roux Institute will show Maine’s legislators and established businesses that investing in the home-grown startup community is one way to grow the talent pipeline and mitigate our shrinking workforce."
Applications for the Roux Institute Startup Residency can be filled out here and are due before Nov. 20. The program is set to formally kick off in January 2021.
Most Recent
Most Recent
0 Comments