Steve deCastro

This year’s finalists in Maine Community Bank's annual competition include businesses in advanced manufacturing, canned water, parking technology, plant-based foods and in-home veterinary care.

This year’s grand prize was raised from $50,000 to $75,000, while the Emerging Business Award grant has been raised from $10,000 to $15,000. Applications are due by Thursday., Aug. 13, at 5:30 p.m.

A merchant services division will help businesses navigate increasingly complex commerce and technology needs.

This year’s grand prize has been raised to $75,000, while the Emerging Business Award grant will be $15,000, Maine Community Bank announced at Startup Maine Week.

Matt Early, senior vice president and director of commercial banking, has been named as chief commercial officer.

Finalists in the 12th edition of the annual LaunchPad contest include mainelove, a Westbrook-based brand of canned water sourced from Sebago Lake, and CarHop, a Portland-based restaurant delivery service.

Applications for the 12th edition of the annual contest are due by Aug. 14, and finalists will be notified in late September.

The enlarged bank, now known as Maine Community Bank, employs more than 370 people, and has branches in Cumberland, Androscoggin and York counties. 

Alivo, winner of the 2024 small business pitch contest, is an AI-powered sales assistant for home services providers.

Five finalists will be selected to compete for a $50,000 grant at a live event on Oct. 22 in Portland.