An expert on business development and
accelerators, Dr. Walton brings fresh eyes to clean energy
technologies.
PORTLAND, Maine, May 2, 2024
/PRNewswire/ --Maine Venture Fund (MVF), a state-sponsored venture
capital fund whose board of directors is appointed by the state's
governor, announced today that Dr. Brien
Walton, MVF's Board chair and an award-winning investment
strategist, was recently invited to speak at the White House during
a roundtable discussion focusing on tackling the climate crisis
through actionable methods of spurring the development of clean
energy and climate technologies.
The roundtable discussion was held in honor of Earth Day and
brought together senior members of the Biden-Harris Administration
with leaders from the Department of Energy (DOE), the U.S. National
Science Foundation, universities, venture capital firms, and law
firms.
"I am so honored to have been invited to the White House for
this important event to stimulate innovation in the clean energy
space. My expertise is in business development, so I bring fresh
eyes to the problem of climate change technology and an emphasis on
sustainable business planning," Walton said.
Walton was also awarded second place in the inaugural EnergyTech
University Prize Faculty Track competition, for which he created an
innovative strategic plan for a hybrid, clean energy and
conservation incubator and accelerator. This award will allow Dr.
Walton to match existing clean energy plans and patents from
DOE-affiliated research facilities across the country with emerging
businesses or technology clusters to commercialize this valuable
research.
"Dr. Walton has a passion for helping small businesses, and as
chair of the MVF Board for the past three years, I have seen how
his professional work aligns with MVF's mission and values. MVF is
committed to helping entrepreneurs in the climate and clean energy
sectors, especially entrepreneurs from underserved and economically
distressed areas," said Joe Powers,
Maine Venture Fund's managing director. "We look forward to
collaborating with Dr. Walton and state and federal agencies to
both incubate out-of-state research in Maine and accelerate Maine-based companies through this
program."
At the White House event, directors from the National Science
Foundation, the Department of Energy, and senior White House staff
focused on exploring the challenges of technology
commercialization. Solutions like Walton's hybrid incubator that
are tangible, scalable, and accessible were noted as a national
priority that will receive more support in 2024. It was also
pointed out that the potential collaboration of the academic,
industry, and entrepreneurial ecosystems is a priority for some
government agencies. The model is expected to increase inclusion
and diversity amongst entrepreneurs and support entrepreneurs in
underserved, distressed, and rural communities.
Walton is the CEO of Acadia Capital Management L3C, a nationally
certified Community Development Entity (CDE) that advises
government agencies, municipal leaders, and social impact funds on
leveraging public and private resources that maximize economic
growth and permanent job creation in Opportunity Zones and
economically distressed communities. He is also the Director of
Entrepreneurship Programs and the Richard E. Dyke Center for Family
Business at Husson University, where he has led initiatives
analyzing the challenges of Maine's entrepreneurs and developed a
collaborative innovation ecosystem between academia, entrepreneurs,
and diverse industry leaders.
"Brien Walton is one of the
nation's leading experts on business incubators and the development
of small business, and Husson is lucky to have an educator of his
caliber bringing such innovative ideas and experiences to our
students," said Marie Hansen, dean
of the College of Business and the New England
School of Communications.
Maine Governor Janet Mills appointed Walton to the MVF board of
directors in 2020. He and the other ten board members are
responsible for determining how the fund invests in businesses with
the potential for significant growth statewide, regionally, and
nationally.
As part of Walton's work with the MVF, he engages with the state
legislature about banking and financial initiatives. He facilitates
collaboration with regional economic development agencies, social
impact foundations, state-sponsored venture capital funds
throughout New England, and national private equity firms with a
social impact focus.
About Maine Venture Fund
Maine Venture Fund invests in
dynamic businesses with the potential for significant growth and
impact in Maine. Funded by the
state as a revolving "evergreen" fund, MVF has invested over
$48 million in small businesses since
the fund's inception in 1996 and has attracted nearly $400 million in outside investment into
Maine, creating high-quality jobs
across the state. MVF is a leader across the nation's
state-sponsored funds, with 30% of investment into female-led
companies in the last five years (vs. roughly 3% industry-wide),
71% of portfolio companies in CDFI-identified investment areas, and
36% of investment into Maine
heritage industries (farming, fishing, forestry) during the last
five years.
For more information, visit maineventurefund.com. For more on
Dr. Brien Walton's background, visit
his profile here.
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SOURCE Maine Venture Fund