Maine businesses have access to a wide range of resources, but knowing where to turn — and when — can be a challenge.
In this article, we discuss funding, technical assistance, referrals and the relationships that connect Maine’s business-support organizations.
Yardley: Maine has an impressive range of resources devoted to helping businesses start, grow and bring new ideas to market. But for a business owner, the challenge can be figuring out where to begin. Does a business need funding? Technical expertise? Help developing its business model? And how is an owner supposed to know which organization provides what?
Braley: There’s a lot for a business to navigate in Maine, and every organization in the ecosystem has a role in helping companies find their way. Maine Technology Institute is often the first or second stop on that journey.
MTI offers grants and loans, allowing businesses to access capital without giving up an ownership stake. Through our Maine Entrepreneurial Resource Corps program, known as MERC, we also connect companies with Maine-based consultants for technical support.
Maine also has a robust network of consultants that even I didn’t know of before stepping into this role. Without MERC and organizations like the Association for Consulting Expertise, or ACE, I imagine it would be tough for businesses to find these resources on their own.
Yardley: That seems to be an important part of the system: a business doesn’t necessarily have to know exactly what it needs — or even which organization it should approach — before it reaches out. Starting with MTI doesn’t necessarily mean that MTI will ultimately provide the answer.
Braley: Exactly. There are many excellent businesses in Maine, and not all of them are a fit for MTI. Sometimes a business falls outside our funding scope, in which case another organization in the state may be better suited to its needs, both financially and in terms of expertise.
Other times a business could be a fit for MTI but first needs to complete additional diligence, like customer discovery or business-model development.
For businesses in that earlier stage, we rely on partner organizations like the Maine Small Business Development Centers, Coastal Enterprises Inc. and SCORE to help them position themselves for an MTI award.
Yardley: So a referral isn’t necessarily a “no.” It may mean that another organization has the particular resource the business needs at that moment. A business could start with MTI looking for funding and instead be connected with a consultant through MERC or referred elsewhere to do some foundational work before coming back.
There are also connections extending beyond those organizations. ACE represents independent consultants across a range of business disciplines and has helped make Maine-based expertise more visible. ACE has strong connections with the Maine Center for Entrepreneurs, whose Maine Mentor Network connects entrepreneurs with experienced mentors.
With that many resources available, how do organizations make sure they are sending businesses to the right place rather than simply handing them another name to call?
Braley: The MTI staff stays in regular contact with these partners so the referrals we make are valuable ones. We also offer MxG to bring stakeholders together and share what each program has to offer.
That communication is important. Organizations need to understand what other programs provide and when another organization may be a better resource for a particular business.
Yardley: It sounds as though the relationships among the organizations are as important as the individual programs themselves.
For business owners, that also makes the message fairly simple: start somewhere. There doesn’t have to be one “right door” into Maine’s business-support ecosystem.
A company might start at MTI and find funding. It might discover that technical expertise is the more immediate need. Another business might be referred to SBDC, CEI or SCORE before returning to MTI. An entrepreneur might find specialized expertise through ACE or mentoring through the Maine Center for Entrepreneurs.
Braley: Maine’s strength lies not only in the number of programs, organizations and professionals available, but in the connections among them. When public, nonprofit and private-sector organizations understand one another’s roles and make useful referrals, business owners don’t have to navigate the entire landscape before asking for help.
They just need to find a place to start.
