An Act To Encourage Entrepreneurial Investment in Maine

CONCEPT DRAFT SUMMARY

This bill is a concept draft pursuant to Joint Rule 208.

This bill proposes to encourage entrepreneurial investment in Maine in a manner that emphasizes Maine's strengths, focuses on the dynamics of the future economy, envisions Maine's role in a global economy, expands access in Maine to cutting-edge technology, recognizes the importance of small businesses and research organizations as entrepreneurial incubators and emphasizes the advantages of Maine as a healthy and clean environment for families as well as for businesses.

The bill proposes to bring together groups of individuals on the cutting edge of entrepreneurship, innovation and economic philanthropy for the following purposes:

1. To identify innovative business models and financing options;

2. To bring together leaders in all aspects of business, social and cultural sectors in the State to serve as a guiding force for the State's economic future. The groups will marshal stakeholders in the State's future and draw on expertise and vision in the fields of business, education, science, technology, culture and the environment;

3. To identify Maine's strengths as the location of education and research institutions with worldwide reputations and significant natural resources and as the home of a working population with significant potential and a reputation for problem solving and hard work;

4. To identify areas where education and government resources can be reallocated to support the development of an entrepreneurial environment that will attract investment from outside as well as from inside the State by focusing on business sectors that have the best opportunity to grow by taking advantage of the State's strengths; and

5. To develop both a short-term and a long-term strategy for enhancing and increasing awareness of the State's advantages and opportunities for the creation of new businesses and the expansion of existing businesses. A short-term strategy will identify the areas of greatest need for infrastructure and services to support the development of the immediate resources needed for entrepreneurial development and the social and cultural resources that enhance the attractiveness of the State and develop a plan for meeting those needs. A long-term strategy will develop long-term goals and develop a plan and action steps for continuing growth and implementation of a methodology for maintaining the State's activities on the forefront of global opportunities.