Finsulate recently secured a $25,000 prize sponsored by Skowhegan Savings Bank at the accelerator’s third pitch competition held in Waterville. Finsulate creates sustainably responsible foul-release wrap to replace anti-fouling paint on boats, docks, buoys, and other objects in the ocean.

Hosted at the Greene Block + Studios in downtown Waterville, 12 companies spanning various industries such as health tech, outdoor recreation, artificial intelligence and clean energy technologies competed for the cash prize. The judging criteria included the company’s pitch delivery, capital strategy, innovation, team and potential economic, environmental, or social impact.

The 16-week program guided startups through a targeted curriculum to execute their project plans, and each cohort company worked with a curated board of local and national mentors from various industries. Seminar topics included utilizing public-private sector grants and economic incentives, customer acquisition strategies, capital planning and intellectual property evaluation.

The audience choice award was presented to Oak AI, an applied ethics company utilizing artificial intelligence to help users record, share and apply personal values as they navigate the internet.

For startups and potential mentors interested in learning more about Dirigo Labs, visit dirigolabs.org.

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