Washington, D.C., Waterville, ME 10/15/2024 – The U.S. Small Business Administration (SBA) announced Dirigo Labs as one of forty-four Stage Two winners for the 2024 Growth Accelerator Fund Competition (GAFC). The Waterville-based accelerator will receive a $150,000 cash prize for its work as a Growth Accelerator Partnership in supporting the launch, growth, and scale of STEM/Research and Development (R&D)-focused small businesses in the sustainability and biotechnology sectors.
“This recognition is a tremendous opportunity for Dirigo Labs to expand our support for startups across a wide range of industries,” said Managing Director of Dirigo Labs Susan Ruhlin. “We’re excited to broaden our reach and offer even more resources to entrepreneurs, especially in rural Maine. Our mission is to foster a diverse and dynamic ecosystem where innovation can thrive—not only in biotech and sustainability, but across all sectors. This opportunity strengthens our role as a catalyst for economic growth in the region and beyond.”
The 2024 GAFC catalyzes strategic innovation ecosystem building across the country. Over the last decade, SBA has awarded 566 in prizes totaling over $33 million to winners throughout the U.S. and U.S. territories.
2024 GAFC Stage One focused on strengthening ecosystem networks, while Stage Two prizes provide enhanced support to Growth Accelerator Partnerships as they play a crucial role in helping startups and small businesses scale, contributing to the economic growth of our nation. These partnerships span public, private, nonprofit, and academic institutions, fostering collaboration across industries and geographies.
“We’re thrilled to receive this incredible $150,000 award, which will enable us to amplify our efforts in fostering growth within the biotech and sustainability sectors,” said Dirigo Labs Assistant Director of Innovation Programming and Partnerships Emalee Hall. “This funding marks a pivotal moment for our team, allowing us to turn our vision into reality by spearheading a major economic initiative in downtown Waterville. Our work is transforming the area into a dynamic center for innovation, and the ripple effect will extend well beyond our local community, driving progress and opportunity on a broader scale.”
Learn more about the Stage One and Stage Two organizations in the 2024 GAFC Public Directory.
About Dirigo Labs:
Dirigo Labs is a regional startup incubator and accelerator based in Waterville, Maine. With a mission to grow the greater Waterville area’s digital economy by supporting entrepreneurs building innovation-based companies, the Dirigo Labs ecosystem brings together people, resources, and organizations to ensure the successful launch of new startups. Dirigo Labs operates under Central Maine Growth Council and is supported by several organizations, academic institutions, and investment firms. To learn more about Dirigo Labs, please visit www.dirigolabs.org
Last modified: November 13, 2024
