August 2019 Edition
Sponsored by People's United Bank
5 Qs with Justin Hafner
Co-Founder at KinoTek
1. You made a huge transition from academic to entrepreneur. What resources were most helpful as you assumed this new role? 
[Justin Hafner]: Making the change could have been a lot more difficult without the resources at University of Maine. Places like the Foster Center for Student Innovation and the Upstart Center for Entrepreneurship made the transition very easy. As a part of these organizations, I gained perspective on both sides and connected with mentors and professionals who had made a similar transition - this allowed me to grasp my full potential as an entrepreneur.

2. Is there a phrase, motto, or quote that reflects your philosophy as an entrepreneur?
[JH]: "You can't connect the dots looking forward; you can only connect them looking backward. So you have to trust that the dots will somehow connect in your future." - Steve Jobs

3. KinoTek employs virtual reality, motion capture technology, and a host of other tech capabilities. Do you have a tech background, or did you learn along the way?
[JH]: Prior to last year, I didn't have very much tech experience. When I started working at the VEMI Lab at the University of Maine, I got my first taste of emerging technology. Working at the lab, I was exposed to all of this technology and professionals in the field, so I gained quite a bit of experience in Virtual Reality, regularly talked with experts in spatial informatics, and learned about coding and research. With my science background and experience at the VEMI Lab, I was able to create the initial vision for KinoTek , and once I surrounded myself with my team of co-founders, we were able to put the idea in motion.

4. In your Tech Talk, you mentioned KinoTek didn't have the option to pursue "friends and family funding", which investors consider a proxy for consumer demand and/or sales ability. How did you overcome that bias?
[JH]: By not coming from a family or background with high net worth individuals, I never had any family or friends who would invest in KinoTek . When we first started raising funds, before releasing our tech on a large stage, we were told that we were too early and still in the "friends and family stage". But when investors saw our product in motion at the Top Gun showcase, the "friends and family" feedback went away. We were also able to finance ourselves through MTI (Maine Technology Institute) and combining those funds with other non-equity diluting sources like Greenlight Maine , Libra Future Fund , and the Big Gig pitch competition. With those funds, we were able to develop KinoTek's first prototype .

5. Maine recently won the hard-earned distinction of being the most startup-friendly state in New England. How has your Maine connection helped the success of KinoTek?
[JH]: The State of Maine provides so many resources for entrepreneurs and startups that I'm not surprised by the win. Our connection to Maine has helped expand our network and allowed us to talk with influencers who grew up here. We learned that people who grew up here or currently live in the state are just great people who are eager to help. The best thing about being in Maine is it seems like almost anybody is willing to at least grab coffee and see if they can help!
Small Business K now-How
Accounts Payable
It’s no real surprise that money flowing into a business receives a lot of attention, which is why so much emphasis is placed on tracking sales and revenues. It may surprise some business owners, however, that it is through the money flowing out of the business when they can make the most significant and controllable improvements in their cash flow . In fact, with a streamlined and automated payables process, businesses can realize immediate benefits of reduced costs for invoice processing, account reconciliation, and check writing, while enjoying the use of their cash for longer periods of time.

Read on to explore the benefits of a well-conceived payables management process.
Business Investment
Welcome The Elm to downtown Waterville
The city's new event center offers a state-of-the-art venue for events and live music right in downtown Waterville. The Elm builds upon the legacy of the local American Legion, for whom 21 College Ave was built, as a popular community gathering and entertainment space.
Welcome ITE , Mid-Maine Regional Adult & Community Education , and Wipfli | Macpage as CMGC investors
Information Technology Exchange (ITE) fulfills its mission of increasing technology access and literacy by working with non-profits, families, and individuals to overcome obstacles such as cost, literacy, fear, sustainability, and availability.

Mid-Maine Regional Community and Adult Education offers local, affordable, and flexible courses in five major categories: business and skills training, college transitions, HiSET (formerly GED) and high-school diploma, literacy courses, and personal enrichment courses.

One of the largest accounting firms in New England, Wipfli | Macpage is a top 20 accounting firm in the U.S. Locally managed, the firm provides accounting, audit, tax, and consulting services with a focus on being accessible, approachable, and accountable.
Top Stories of July 2019
Maine Technology Institute (MTI) Launches Remote Office in Downtown Waterville - MTI brings their financial and business development expertise to 50 Elm Street to assist innovative businesses in converting and scaling their concepts into new products, processes, and companies.

Four Facade and Marketing Grants Awarded to Fairfield Businesses - launched in early 2019, Fairfield's Facade Improvement and Marketing Grant program enhances the character and vitality of Fairfield businesses in its historic downtown district and beyond. Awarded businesses include Belanger's Drive-In, IBEW 1253, and Meridians.

Watching the River Flow: Along the Kennebec, Developers and Residents are Returning to the River - the recent purchase and sale of the Lockwood Mills buildings reflects the economic importance of the Kennebec River, which attracts business, residents, and tourists.

Class Act in Waterville: How Thomas College Grooms Students for Career Success - under the leadership of President Laurie Lachance, Thomas College has honed its curriculum and extracurriculars to prepare students for career success, including the recent addition of its master's degree in cybersecurity.
Central Maine Real Estate Spotlight
Featured Industrial Property Location :
22 Verti Drive, Winslow, ME
Building Size: 46,200 sq.ft.
Office Size: 2,000 sq. ft.
Sale Price: $1,500,000
Industrial Features:
  • 13-foot ceilings
  • 3 docks
  • 2 drive-in bays
  • Convenient access to U.S. Rte. 201 and I-95
  • Located in business park
  • Municipal water and sewer
Contact : Don Plourde | 207-660-4000 | [email protected]
Workforce Investment
Employer Spotlight: You
CMGC and Kennebec Valley Community College (KVCC) invite you to tap into the KVCC student talent pool via a variety of engagement opportunities, including classroom visits, internships, and job referrals.

This partnership makes it easier than ever to engage with KVCC students in the courses relevant to you.
Connecting with KVCC students will build exposure for your organization, help recruit for open positions, enrich students' educational experiences, and build a qualified local workforce .

You can learn more about each engagement opportunity here ; the variety is designed to fit your needs and schedule. Don't miss this free opportunity to connect with a talented pool of candidates - take this survey to indicate your interest in learning more .
We hope you enjoy learning about local talent recruitment and retention strategies, and if your business has an innovative strategy or unique culture, please share with us!
Maine Apprenticeship Program Increases Capacity
Maine Dept. Labor's Maine Apprenticeship Program recently received $752,000 in grant funding to place an additional 450 apprentices with employers across the state.

This 58% increase in capacity makes it easier for your business to participate in the apprenticeship program, which provides a pathway for talent recruitment and retention and increased employee productivity . Over 1,000 occupations qualify, including non-trades and non-union positions.

For more information on the Maine Apprenticeship Program, click here .
Workforce Training & Professional Development:
 3D Printing
Have you thought of adding 3D capabilities to your business operations or learning them as a hobby? 3D printers offer low-cost, customized manufacturing of prototypes and finished products.

This fall, KVCC will offer two 2-session courses on the hardware and software behind 3D printers.

Introduction to 3D Printing: Hardware
Dates: September 28 & October 5, 2019
Time: 8:00am - 1:00pm
Details: In this two-session course you will learn how to set up, operate, and troubleshoot your 3D printer. This workshop is 100% hands-on, maximizing your experience with a 3D printer that will be yours to take home at the end of the workshop.
Credit: 1 CEU
Fee: $449

Design for 3D Printing: Software
Dates: November 2 & November 9, 2019
Time: 8:00am - 1:00pm
Details: Want to create your own models for 3D printing? This two-session course will teach you the basics of designing with 3D printing in mind. Methods will include parametric design, sculpting, and scanning. We will survey a variety of free design programs, including Forger, Meshmixer, Tinkercad, and Shapr3D.
Credit: 1 CEU
Fee: $149
Quality of Place
Sponsored by MaineGeneral Health
Taste of Waterville Celebrates its 27th Anniversary
On Wednesday, August 7, enjoy an evening of live entertainment and diverse regional cuisine in downtown Waterville. Event highlights include:

Bite Booths (beginning at 11:00am) 
Featuring food trucks and food booths by Asian Cafe, Aucoin Concessions, The Gouda Boys, Salty Dog BBQ & Catering, Silverton Foods BBQ Bar, Stan's Fries, Waterville Elks, and Waterville Rotary Club.

Restaurants (beginning at 5:00pm)
For al fresco dining, Main Street will be lined with restaurants including Amici's Cucina, Cappza's Pizza, Jewel of India, The Last Unicorn, MaineGeneral Health, Northern Light Inland Hospital, Pete's Pig Catering & Barbeque, Portland Pie, and Oak Grove Center.

Live Entertainment (beginning at 5:00pm)
Dine while listening to Downeast Brass and Meryia Michaud & The Pines Band on Main Street, or catch Mike Reny, Don Boudreau (Elvis impersonator), and Six Day Sinner in the Concourse.
Health Tip: Medical Care Options
By MaineGeneral Health
When you need to see a doctor fast, know your options .

Should you be seen in the Emergency Department or is Express Care the more appropriate choice for your medical care?

If you think you or a loved one's medical condition is life-threatening , call 9-1-1 immediately.

If your condition or that of a loved one doesn't need emergency medical attention, try calling your primary care provider first . If you cannot get in to your primary care office, Express Care is a great option.

Learn more about how to choose by clicking here .
Stay connected with CMGC:
If you are an investor in CMGC and would like to submit content to CMGC Intelligence , simply reply to this e-mail to speak with Elaine Theriault-Currier.
Board of Directors:

Chris Gaunce, chair – Central Maine Motors Auto Group
Michael Heavener, vice chair – Town of Winslow
Beth Gibbs, treasurer – Thomas College
Lucille Zelenkewich, secretary – Peoples United Bank
John Dalton, past chair – Northern Light Health - Inland Hospital
Elizabeth Fortin – Kennebec Valley Community College
Paul Stein – MaineGeneral Health
Darlene Ratte – Best Western Plus
Michael Roy – City of Waterville
Gary Bowman – Town of Oakland
Michelle Flewelling – Town of Fairfield
Brian Clark – Colby College
Michael Runser – Valley Beverage
Allan Rancourt – Kennebec Federal Savings
Lisa Hallee – Bill & Joan Alfond Foundation
Donald Plourde – Coldwell Banker Plourde Real Estate
Tom Meucci - Huhtamaki

 Ex-Officio Board Members:
Laura Cyr – Kennebec Valley Council of Governments
Christian Savage - Somerset Economic Development Corporation
James Dinkle – Kennebec Regional Dev. Authority / FirstPark