MCED Blog

MCED helps innovators fill in the gaps between their deep industry expertise and the strategic business skills critical to launching a scalable, sustainable venture. Maine's unique economic and geographic challenges demand more that a traditional business incubator. They demand a catalyst.

Angel Group Investing Trends
Angel Group Investing is steady nationwide
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Customers Are Your Best Funding Source
Generating revenue early on has lots of benefits
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Advisory Board vs. Board of Directors

Here's a great blog by Steve Blank about the critical difference between a board of directors and a board of advisors:

Don't Give Away Your Board Seats

We work with companies to think through the progression, which is generally:

1) work with coaches

2) work with mentors

3) form a board of advisors

4) form an outside board of directors 

Step 4 is only necessary with "significant" outside financing.

Probably a big difference between Silicon Valley (where Steve Blank is) and Maine is that here, a "significant" financing is probably between $300K and $500K, whereas it's probably 3X that amount in the Valley.

In other words, a decent size angel round or modest size VC round in Maine will lead to a requirement to develop an outside board of directors.

 

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Top Gun Showcase video

MCED is proud of the community that came together to support the Top Gun 2013 class during the Showcase. About 300 people came out and saw that amazing ideas and great companies are starting here in Maine!

 

Top Gun 2013 Showcase.

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