Despite being hit with a recession brought on by the COVID-19 pandemic, the latest 5-year impact report from Ben Franklin Technology Partners (BFTP) shows even higher growth than the previous five years.
Three recent reports from Maine provide insight into the challenges of fostering an innovative economy in a rural state. Overall, the research suggests that Maine has done well in its efforts to support startups, but could do more to help those startups expand and find new markets. By encouraging innovation-based businesses to expand to markets outside of Maine and by offering mentoring services, the state could overcome the stagnation that can occur when companies and states focus on local markets.