One Standout Local Business Will Win $50,000!


We have increased the prize for our annual business competition, LaunchPad, from $30,000 to $50,000. The program, now in its fourth year, is designed to help fund the growth of a promising, early-stage Maine business. The entry period for this year’s competition starts on April 1 and ends at 5:00 p.m. on May 1. Companies can enter via an online form at No formal business proposals or supporting documents are required. Finalists will be invited to attend a live pitch competition on June 7, at USM’s Hannaford Hall at which the prize winner will be announced.


According to the United States Small Business Association, 97 percent of businesses in Maine are small businesses (defined as 500 or fewer employees), and of them, those with fewer than 100 employees contribute the largest share of jobs.


With digital solutions allowing Mainers to work remotely, independently, and efficiently, many non-financial barriers to entrepreneurship have been lifted. The bank is excited to lift one more for this year’s LaunchPad winner with its $50,000 grant.


“Maine’s economy is made up of thousands of small and innovative businesses, and we want to see those numbers grow and more businesses succeed” said Chris Emmons, President and CEO of Gorham Savings Bank. “We’re constantly inspired by the success stories we hear from entrepreneurs and each year we’re proud to give another one a meaningful boost.”


Visit to watch a recap of the 2015 competition.