Business Ecosystem
Posted by Lake Superior Community Partnership on November 24, 2014
ec-o-sys-tem
noun \ ek-oh-sis-tuh m \
: a system formed by the interaction of a community of organisms with their environment
Busi-ness ec-o-sys-tem
noun \ biz-nis ek-oh-sis tuh m \
: network of organizations involved in the delivery of a specific product or service through both competition and cooperation
In economic development we also have an ecosystem, an economic development ecosystem. Basically, it is a network of organizations and businesses that provide business development services within a community or region. You know, that “no wrong door” policy that says no matter what door you enter looking for assistance, those inside know the services available within their ecosystem and can refer or engage others as needed? We have that here in our region.
Why am I writing about this? The thought was sparked as I attended the grand opening of Invent@NMU recently. If you haven’t heard, this is a new entrepreneurial program that gives students real-world experience helping regional clients take physical products from concept to market. With the help of professional mentors, students develop skills in design, manufacturing and marketing. While the focus of Invent@NMU is to provide competitive experiences for students, the services offered are available to the entire community – students, individual inventors, start-ups and even existing companies with innovative ideas, but lack the experience or resources to fully execute the process. Contact them at invent@nmu.edu, 906-227-6353 or stop in (1400 Presque Isle Ave, Marquette).
The director of the center? One of our favorite serial entrepreneurs and inventors, Dave Ollila. Dave is an extremely successful businessman who has successfully taken several products from conception to commercialization which isn’t an easy task. He has long wanted to create a way to help up and coming inventors navigate this long road to success, giving them a leg up by having a process defined using the learning and experiences of those that have traveled before them.
So if you can follow my thinking, I left the event excited for what this means to our economic development ecosystem by adding more support for our community’s inventors and entrepreneurs. Think about what a community of our size has! In addition to Invent@NMU, a wide variety of development assistance can be found from a wide variety of partners. The list includes Northern Initiatives, Michigan Works!, Accelerate U.P., Small Business Development Center, Small Business Administration, your local municipality and state departments to name a few. There are also plenty of private sector businesses that offer services as well. Think about your financial institutions, investment firms, accounting firms, workforce agencies, the list goes on. Catching on? No wrong door.
I would be remiss if I didn’t take some ink to remind you of the business development services provided at the Lake Superior Community Partnership. We partner with all those mentioned above knowing that we all play a crucial role in helping to strengthen and grow our economy. Some of the services that the LSCP provides are site location, financing, workforce development, strategic/business planning, budget/profit optimization, entrepreneurial assistance, grant writing, research, state and federal incentive support, economic modeling and industry research, legislative advocacy and succession planning. Contact our office at 906-226-6591 or lscp@marquette.org or stop by Monday through Friday from 8 a.m. to 5 p.m.
So no matter whether you have an idea, already own a business, are encountering challenges within your business, looking for a succession plan or anything in between, the economic development ecosystem in our region is solid and there to support you. For a community of our size, we are extremely fortunate.
Amy Clickner, CEO, writes a bi-weekly column for the Mining Journal.
