Gorham Savings Bank, a leading southern Maine financial services institution, is moving its small business competition, LaunchPad, from the spring to the fall.

The competition, the premier event of its type in Maine, showcases innovative small businesses that compete for a $50,000 no-strings-attached grant from the Bank. Past winners include Pika Energy, Bixby Chocolate, Flowfold, Fluid Farms, North Spore, Good To-Go, Casco Bay Creamery, HighByte, and Tanbark. The LaunchPad competition also includes the Emerging Business Award, which is a $10,000 grant plus another $10,000 worth of in-kind marketing, business development, and public relations services.

“Over the years, our historic June event date has proved to be difficult on a number of fronts,” said Steve deCastro, president and CEO, Gorham Savings Bank. “This shift will give GSB some breathing room between several other events while providing applicants and finalists more time between pitch competitions and other small business events.”

Since 2013, more than 550 businesses from over 25 industries and 100+ Maine cities and towns have applied to LaunchPad.

“We’re committed to continual improvement of the LaunchPad experience for Maine’s early-stage small businesses and believe this move will make LaunchPad more accessible for applicants, as well as our dedicated and enthusiastic supporters,” said deCastro.

Over the last decade, Gorham Savings Bank’s LaunchPad has provided more than $450,000 in growth capital to help Maine small businesses reach the next level.

Businesses can apply for LaunchPad 2023 starting mid-summer on Gorham Savings Bank’s LaunchPad website.