Empowering Innovation: A Blueprint for Future Ventures
The Birth of Millworks Fund and Its Remarkable Success
In 2012, a group of visionary investors established the Millworks Fund to nurture local tech startups through strategic financial support. Over the years, this fund became a cornerstone of New Hampshire’s tech ecosystem, providing crucial capital that transformed fledgling enterprises into industry leaders. One such beneficiary, CleanFiber, exemplifies the fund's transformative power. Initially awarded $50,000, CleanFiber skyrocketed to become the fastest-growing manufacturing company in the nation, as recognized by Inc. 5000. With over $125 million in subsequent funding, CleanFiber now operates from Buffalo, New York, revolutionizing the building insulation market with its innovative use of recycled materials.The success of CleanFiber underscores the broader impact of the Millworks Fund. By offering annual grants totaling $100,000 to top competitors in the NH Tech Alliance’s TechOut competition, the fund played a pivotal role in fostering innovation and entrepreneurship. For five years, it distributed funds ranging from $20,000 to $50,000, nurturing startups that might otherwise have struggled to secure vital resources. The fund's legacy extends beyond monetary gains; it cultivated a culture of mentorship and collaboration, where entrepreneurs received invaluable feedback from seasoned judges and mentors.Achieving Unprecedented Returns and Building a Legacy
The Millworks Fund's achievements are not merely anecdotal; they are backed by compelling data. Investors saw a remarkable return of $4.65 for every dollar invested, significantly outperforming typical venture capital benchmarks. Despite the high failure rate of startups—estimated at 90%—the fund managed to achieve a commendable success rate. Half of the funded companies provided returns, with three standout performers delivering exceptional yields of 26, three, and four times their initial investments. This success is attributed to the quality of the startups involved and the strategic guidance provided by the fund's managers.Matt Pierson and Tom Daly, who co-founded and managed the fund, brought extensive experience from their own ventures. Pierson, known for growing DTC Communications into a $30 million business before its acquisition by Cobham, and Daly, co-founder of Dyn (acquired by Oracle for over $600 million), leveraged their expertise to identify and support promising startups. Their commitment extended beyond financial backing; they acted as mentors, ensuring that each recipient received personalized advice and support. One notable success story is Therma-HEXX, a Portsmouth-based company specializing in modular radiant heating systems. Founder Bob Barmore repaid his $30,000 investment within two years, demonstrating the immediate impact of the fund's support. Such instances highlight the fund's dual mission: generating financial returns while fostering sustainable growth and job creation.Looking Ahead: Sustaining Momentum in New Hampshire's Tech Community
As the Millworks Fund concludes its operations, its legacy remains firmly embedded in New Hampshire's tech ecosystem. Investors and founders alike recognize the importance of continuing this momentum, encouraging new stakeholders to step forward and establish similar initiatives. Julie Demers, executive director of the NH Tech Alliance, praised Matt Pierson and Tom Daly for their unwavering dedication to the local tech community. Their efforts have ensured a robust environment for innovation and entrepreneurship, setting a benchmark for future generations of tech leaders.The Millworks Fund's success serves as a testament to the power of strategic investment and community-driven support. As the tech landscape continues to evolve, the principles established by this pioneering fund will undoubtedly inspire new ventures and drive further advancements in New Hampshire's thriving tech sector.Where Faith Meets Speed: A Racer’s Relentless Pursuit of Glory
A Career on the Brink
Corey LaJoie's NASCAR career seemed to teeter on the edge of uncertainty when he was unexpectedly let go from Spire Motorsports midway through the 2024 season. The third-generation driver, known for his grit and determination, suddenly found himself without a full-time ride heading into 2025. Despite the odds stacked against him, LaJoie refused to let this setback define his future. Instead, he focused on the immediate challenge—securing a spot in the Daytona 500, a race that has always held immense significance for him.The decision to join Rick Ware Racing (RWR) was both strategic and risky. LaJoie knew that the second RWR entry was available but lacked a committed driver. Sensing an opportunity, he made a daring move by fronting his own money to lock down the seat. This financial gamble was not taken lightly; LaJoie joked that it came from his child's college fund. Yet, he was determined to do whatever it took to compete in the Daytona 500 once again.Securing Sponsorship Against All Odds
With only a month to go before the Daytona 500, LaJoie faced another formidable hurdle—finding sponsorship. Without financial backing, his chances of participating in the race were slim. In a moment of desperation, he placed all his chips on the table, hoping that fate would intervene. Miraculously, it did. Just days before the event, sponsors DuraMAX and Take 5 came forward, providing the necessary support to make his dream a reality.LaJoie reflected on the past four months as a period of intense emotional turmoil. Doors that he hoped would close remained open, while others unexpectedly opened. He attributed much of his resilience to his unwavering faith. “It felt like every step was guided,” he said. “I was at peace with letting go of that money as a test of faith. Every day, I believed that something good would happen, and it did.”Battling for a Place in History
Even with sponsorship secured, LaJoie still had to earn his way into the Daytona 500. Qualifying times alone wouldn't suffice; he needed to race his way into the field. During the Duel 2 qualifying race, LaJoie demonstrated exceptional skill and composure. Running a flawless race, he finished sixth, guaranteeing his 12th starting position in the Daytona 500. This achievement marked a significant milestone in his career, especially considering the challenges he had overcome just to be there.Looking ahead, LaJoie remains cautiously optimistic about the future. While he isn’t certain what lies beyond this race, he is excited to have achieved his primary goal—making the Great American Race. His performance in last year’s Daytona 500, where he finished fourth, adds to the intrigue. Fans and analysts alike are now speculating whether this could be the race where LaJoie finally breaks through for his first win after 272 Cup Series starts.An Inspiring Legacy
Corey LaJoie’s journey to the Daytona 500 is more than just a story of racing prowess; it’s a narrative of resilience and belief. By taking calculated risks and trusting in his abilities, he has set an inspiring example for aspiring racers everywhere. LaJoie’s story reminds us that sometimes, the greatest victories come from the darkest moments. As he prepares to take the green flag, the world will be watching to see if this seasoned veteran can turn his faith into a historic triumph.A recent incident in Daphne, Alabama, has brought to light the alarming ease with which trust can be betrayed. A local resident, who hired a new pet sitter, discovered that over $20,000 had vanished from her home office. The suspect, identified as 46-year-old Lori Nicole Smith, admitted to replacing the stolen cash with counterfeit movie prop money. This case highlights not only the vulnerability of homeowners but also the prevalence of fake currency in the region.
The homeowner first became suspicious when she found one of these prop bills among her possessions. Authorities quickly identified Smith as the culprit, leading to her arrest. While some of the stolen funds have been recovered, this event serves as a stark reminder of the importance of safeguarding personal belongings and verifying the authenticity of currency.
Exploiting Trust: The Pet Sitter's Deception
In an unexpected turn of events, a Silverhill woman's role as a pet sitter took a sinister twist. Over several weeks, she allegedly stole substantial amounts of cash from an elderly Daphne resident. The victim kept rent money for multiple properties in a desk drawer, which the pet sitter reportedly accessed during her visits. The theft went unnoticed until the homeowner stumbled upon a counterfeit bill, sparking an investigation.
Upon closer examination, it became clear that the pet sitter had meticulously replaced genuine $100 bills with movie prop currency. These fake notes, while similar in appearance, bore markings indicating their non-legal status. Investigators believe that Smith ordered these counterfeit bills online, making it easier to conceal her actions. Capt. Reginald Ardis from the Daphne Police Department emphasized the importance of vigilance, advising homeowners to secure valuable items and carefully vet anyone invited into their homes.
Baldwin County's Ongoing Battle Against Fake Currency
This incident is part of a larger issue affecting Baldwin County, where counterfeit movie money has surfaced repeatedly over the past decade. From gas stations to festive parades, these fake bills have become increasingly common. Despite their resemblance to real currency at first glance, closer inspection reveals telltale signs of their illegitimacy. Law enforcement officials urge the public to remain cautious and report any suspicious findings.
While authorities managed to recover approximately $3,000 of the stolen funds, they remain committed to retrieving the remaining amount. Lori Nicole Smith, after confessing to the crime, was released on bond. This case underscores the need for heightened awareness and security measures, especially when inviting outsiders into one's home. As Capt. Ardis advised, homeowners should exercise extreme caution regarding unsecured valuables and the people they entrust with access to their property.