A long term & sustainable vision for Maine's entrepreneurial ecosystem

How is MxG different from BxG?

Maine Accelerates Growth builds on the foundation laid through the four years of Blackstone Accelerates Growth. While BxG programmatic decisions were largely governed by the Blackstone Charitable Foundation in New York, MxG decisions are made by MxG's governing board of larger donors and individuals with demonstrated commitment or interest in Maine's long term economic vitality and informed by the expertise of MxG organizational partners. MxG engages a larger number of organizational partners than the original three BxG collaborators and celebrates bringing new ideas into the network.

Maine Accelerates Growth is so named in recognition that both the vision and responsibility for building a prosperous Maine lies with our citizens and the guests who share a love of our state.

Why the Maine Community Foundation?

The Maine Community Foundation is a statewide philanthropic leader that is a major funder of nonprofit organizations; a steward of charitable assets; and resource for donors. With a goal of increasing prosperity in Maine, the foundation supports nonprofits that are working to strengthen communities and increase access to higher education. In 2014 MCF awarded more than $24 million in grants and scholarships.

The Maine Community Foundation offers personalized services for donors and world-class investment stewardship of charitable assets. The community foundation's purpose is to work with donors and other partners to improve the quality of life for all Mainers. We believe that philanthropy is a powerful force for positive change for Maine. MxG is working through the Maine Community Foundation towards a prosperous future for Maine.

What is a community field-of-interest fund?

A field-of-interest fund supports organizations working in a specialized area of charitable interest. Examples include funds that support health, social services, the arts, environment, education or a geographical area. A community field-of-interest fund is established by a community group, rather than an individual donor. That group advises the Foundation on how best to allocate gifts contributed for that field-of-interest. In the case of MxG, it allows funds to be donated to build the Maine economy through entrepreneurship and innovation while providing the flexibility to support the most effective programs that may change over time.

Can I designate a gift?

Yes! A donation to the MxG Fund may be designated for a particular program, event, organization or geographical region working to improve the Maine economy through entrepreneurship and/or innovation.

How will my gift be matched?

The Maine Technology Institute has issued a $200,000 challenge grant that will match gifts to MxG dollar for dollar. All matching funds will be undesignated. So, a designated gift to a particular program, organization or geographical region will trigger a matching contribution into the pool of funds available for grant-making within the overall field of interest, not for the individual designated recipient.

Why is MTI providing match?

MTI funds entrepreneurs and innovators within the technology-intensive sectors it serves and connects its companies to resources to succeed and grow. Part of MTI's mission is to ensure that a complementary system of support services is in place and available to companies and research laboratories receiving funds from the institute.

The BxG initiative has been a key piece of MTI's strategy to build this complementary system and MTI's Board of Directors has recognized the importance of continuing to build on the BxG foundation.

How are funding decisions made?

Any donations designated for an individual program or 501c(3) organization working to improve the Maine economy through entrepreneurship and innovation are fully awarded to that designee. Undesignated funds are allocated based on criteria established by MxG's governing board, made up of larger donors and individuals with demonstrated commitment or interest in Maine's long term economic vitality.

When are funding decisions made? Are eligible projects "pre-approved" or can anyone apply for MxG support?

While individual projects are not pre-approved, MxG has established organizational partners who have signed a pledge to actively support the MxG mission and vision. The programs in which these partners are actively involved will be given priority based on the demonstrated effectiveness and commitment to the MxG goal of a prosperous Maine through entrepreneurship and innovation and the MxG commitment to working collaboratively.

MxG aims to accelerate the growth of companies, communities, and talent by funding, creating, and leveraging high impact entrepreneurship and innovation programs and events through a collaborative and complementary network of organizations and individuals.

Why would I donate through this fund instead of directly to my favorite entrepreneurial or innovation support program or organization?

Funds donated to MxG are matched dollar for dollar, so a donation to MxG leverages support for building the entire entrepreneurial and innovation community. 100% of a designated contribution goes to the designee, but the match pools with other donations.

If they wish, donors receive the benefits of recognition for support not only through the individual organization, but also through MxG and the Maine Community Foundation communication and marketing materials.

How else can I get involved?

In recognition of their demonstrated commitment, donors of $200,000 or more will be considered for a place on the MxG governing board. In addition, there are many opportunities through the MxG organizational partners to participate in the MxG network such as attending an event, hosting an intern at your company, mentoring an entrepreneur, or just telling your friends and family about MxG.

How can an organization get involved?

MxG has organizational partners who have signed a pledge of commitment to MxG's vision and collaborative approach. Signing this pledge brings organizations into the MxG network.

How do I make a contribution?

Checks should be made out to "Maine Community Foundation/Maine Accelerates Growth Fund" and sent to: Maine Community Foundation, 245 Main St., Ellsworth, ME 04605

Gifts can also be made online at our website. Please use the dropdown for "Maine Accelerates Growth" Please note that contributions made by credit card have a 3& fee from the credit card company.

How do I designate my contribution to go through the MxG Fund to an eligible partner program?

If you designate your donation for a particular program or organization, please send a note with the check to indicate the designation. This note will be forwarded from the Foundation to Maine Accelerates Growth. In all other respects, you may follow the same process as an undesignated gift.

Checks should be made out to "Maine Community Foundation/Maine Accelerates Growth Fund" and sent to: Maine Community Foundation, 245 Main St., Ellsworth, ME 04605

Gifts can also be made online at our website: www.mainecf.org. Please use the dropdown for "Maine Accelerates Growth" Please note that contributions made by credit card have a 3% fee from the credit card company.