History and Impact of “Accelerates Growth”
Maine Accelerates Growth is a newly developed and evolving model for supporting the growth of entrepreneurial ecosystems and innovation. MxG was launched in September 2015, but has a longer history of work that has made it what it is today. MxG focuses on Maine’s Entrepreneurial Ecosystem as a whole, so measures impact through indicators of ecosystem vibrancy.
Blackstone Accelerates Growth
In the fall of 2011, the Blackstone Charitable Foundation launched Blackstone Accelerates Growth ("BxG"). The Blackstone Charitable Foundation provided a $3 million grant to launch the BxG program, an endeavor to create Innovation Hubs throughout the state to bring together programs and resources to support and grow Maine's entrepreneurial ecosystem.
Over the next actual four years, in every part of Maine, partners and organizations worked to create a new model for building prosperity across Maine. New collaborations arose, new lessons learned, and new talent was developed to start, expand and grow companies and talent across the state.
Closing a Chapter, Writing the Next One
At the conclusion of a successful four years of work as Blackstone Accelerates Growth, the original three BxG partners announced the creation of a new consortium to support the increased growth in Maine's innovation, startup and creative technology community. This new effort takes the lessons learned from both the success and challenges identified during the BxG years and applies that to a new and innovative model of collaboration.
Today, MxG creates a whole new model for supporting the growth of innovation and startup communities across the state. Here are some of the ways MxG changes the game:
- MxG can move quickly to invest both knowledge and resources into a opportunity to grow the ecosystem.
- It has the freedom and flexibility to follow the rules of innovation and experiment with new products and programs and get rapid feedback without the drag of bureaucracy and historic expectations.
- For donors approached about new programs and initiatives, it can provide objective due diligence and objective measures of success.
- Collaboration isn't just a word with MxG it is a requirement of funding and membership. It's real.
- MxG is open to all new ideas and "doers". If your idea is new or you're not an organization, that's okay – we want to find the best ideas and we'll work with you to make it happen if we want to.
- Donations will always leverage a multiplier impact for the ecosystem.