I recently had the occasion to review all the regional and statewide economic development plans, public and private, written for Maine in the last five years. The good news is that all of the plans identified some of the same challenges and opportunities for the state, and many agreed on the broad outlines of work to be done. For instance, nearly everyone now sees the demographic tsunami coming at us in the dual guises of an aging population and decreasing workforce. Another universal theme is the dearth of high-speed internet services, especially in rural areas.
For me, the shock was the also universal call for increased entrepreneurship and innovation. I wasn’t shocked at its inclusion: I’ve been calling for the same thing for literally decades. What was shocking was that these ideas are now mainstream. Unfortunately, the action and implementation plans associated with this goal are still weak and nebulous, leaving a lot to be desired.
Perhaps the reason for this is that it’s difficult to know exactly what to do, especially in rural areas, where entrepreneurs and innovators are far apart, and not particularly visible. I’m hosting a panel at the International Business Innovation Association (iNBIA) conference in late March to learn from people that are implementing programs to support entrepreneurs in innovation hubs in rural areas. As a group, the panelists seem undeterred by rural challenges. Just Do It seems to be their motto – maybe it’s time for Maine to do the same.
Unfortunately, the state budget currently being debated is looking in another direction. The Governor and his staff zeroed out funding for the state’s incubators, a grand savings of $170,000. We’re working on getting this put back or moved over to MTI who has the funds to support entrepreneurship programs. More later!