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New Blackstone Initiative Creates One of Its First Innovation Hubs in Bangor Region

The Blackstone Charitable Foundation, the philanthropic arm of the Blackstone private equity group, has started an initiative in Maine to spur economic growth through innovation and entrepreneurship, and has selected the Bangor Region as one of the first two region in the state where it will build an "innovation hub."  The initiative, Blackstone Accelerates Growth, is one of three in the nation that Blackstone has created and seeks to build a dynamic hubs of innovation usually only seen in more urban areas of the country like Boston and Silicon Valley.  The initiative works by accelerating the success of high-potential companies which will serve as role models for future generations of companies; accelerating connections among companies for collaboration and with other resources such as capital and talent; and accelerating the next generation of innovators by providing scholarships and internships to college students who will have the opportunity to work with innovative companies.