For Immediate Release

 July 19, 2011

Contact: Nancy McLeod Carter,, 207-594-9209 x133



Media Advisory


Island and Coastal Innovation Fund Now Open for Business


The Island Institute will announce the official launch of a new $3 million economic-development tool to help island and coastal entrepreneurs access working capital to start or expand their businesses.  The Island and Coastal Innovation Fund will make loans to jump-start or increase the capacity of island-based and remote coastal businesses, and take an equity position in transformative business models.  The fund will also continue to purchase and hold groundfish permits, leasing them back to conservation-minded fishermen for gear research that can help protect fish stocks.


When:  Friday, July 22 at 10:30 a.m.


Where:  Dropping Springs Bait Co.,

               6A Portland Fish Pier

               (next to the Portland Fish Exchange)


Who:      Senior Island Institute staff and trustees,

                representatives of Olympia Snow and

                Chellie Pingree, island community members





The Island Institute’s mission is to serve as a voice for the balanced future of the islands and waters of the Gulf of Maine.  Specifically, the Institute partners with Maine’s 15 year-round island and remote coastal communities

to ensure that they remain vibrant places to live,  work and educate children.