Archive for July, 2009

Entrepreneur : what is it and why should you care?

Friday, July 31st, 2009


By Dean Whittaker

This past week I heard three pitches from three start-up companies looking for seed capital. These young entrepreneurs had just completed a summer internship program called Momentum (www.momentum-mi.com). This pre-seed-funded effort allowed these young entrepreneurs to spend the summer focused on developing their idea into a working proto-type, creating a business plan, and practicing and pitching in front of possible seed-capital investors. In the midst of the economic shift taking place, it was fascinating to see these “new sprouts” taking root and beginning a journey with an uncertain destination.

In the same week, I watch a documentary on hulu.com, “The Entrepreneur,” about Malcom Bricklin’s attempt to distribute the Chinese Chery automobile in the US. This film was produced by his son, who traveled with his 65-year-old father as he made one more attempt to create a car business. His “P.T. Barnum” approach to working with the Chinese ended when they selected Chrysler as their US distributor.

All of which started me pondering: What is an entrepreneur and why should you care?

Here are ten things I feel an entrepreneur needs:

1. A passionate dream, compelling idea or vision.

2. Persistence to the point of irrationality.

3. Access to capital : saving, friends & family, seed fund, etc.

4. Belief in oneself : self confidence.

5. A willingness to risk the shame (in some micro-cultures) of failure.

6. Support and encouragement from spouse, family and friends.

7. A willingness to “do whatever it takes” to accomplish this dream.

8. A focused determination to never, ever, quit, no matter what.

9. Optimism : a belief that the glass is half full.

10. An ability to fail and get up and try again:”fail fast forward.”

Why should you care? To me, these unusual “outliers” are at the heart of American Business. They drive our economy and evolve: they birth themselves, mature and die. Every business organization started with an idea and grew into an enterprise. It is these new enterprises that will revive our economy, create wealth and prosperity, and provide jobs and investment. Hats off to the entrepreneurs of the world. Thank you for the risks that you take.

The Future Economy: Clean & Green

Friday, July 31st, 2009

By Jami Miedema

The American Recovery and Reinvestment Act (ARRA), passed earlier this year, has put the energy sector in the spotlight. Today, we frequently hear and read about concepts such as “green technology” or “clean energy”. We know, in general, about these ideas, but how do they affect our economy both now and in the future?

The clean energy economy, as defined by The PEW Charitable Trusts, is an economy that “generates jobs, businesses and investments while expanding clean energy production, increasing energy efficiency, reducing greenhouse gas emissions, waste and pollution, and conserving water and other natural resources.” In their report, the PEW identifies five groupings of the clean energy economy: 1) Clean Energy, 2) Energy Efficiency, 3) Environmentally Friendly Production, 4) Conservation and Pollution Mitigation, and 5) Training and Support. Here is a breakdown of how they define each category:

Clean Energy
Building sustainable energy for the future

Energy Efficiency
Reducing and managing our energy demand

Environmentally Friendly Production
Improving our products and processes

Conservation and Pollution Mitigation
Recycling and remediating waste

Training and Support
Helping develop our clean energy technology

According to results of PEW’s research, approximately 65% of jobs in the clean energy economy were classified under Conservation and Pollution Mitigation in 2007. This area includes jobs and businesses such as water and natural resource management, recycling, and remediation of waste. The findings support the notion of increased understanding by consumers and businesses about the need to conserve and recycle resources.

However, the future could look very different from where things currently stand. The PEW’s research further shows that Clean Energy, Energy Efficiency, and Environmentally Friendly Production are growing at a much faster pace than the other categories as companies shift from awareness to action. This means that businesses that produce, distribute, or store energy from wind, solar, biomass, and geothermal sources will see increased demand for their services, as will companies that design or manufacture energy efficient products. This creates optimism in the job market for these areas of the energy industry. While the clean energy economy is still in its early stages, the ARRA will ensure that its growth will continue as grants are made available to fund projects, research, and development.

Source: The PEW Center on the States. (June 2009). The clean energy economy. http://www.pewcenteronthestates.org/uploadedFiles/Clean_Economy_Report_Web.pdf

Michigan: Moving from auto to green

Friday, July 31st, 2009

By Vidhan Rana

With 15.2 percent unemployment in June 2009, Michigan is the state hit hardest by the current economic hardship. In the last few years, nearly all the economic indicators in the state have been negative. The motor vehicle manufacturing sector has, perhaps, felt the biggest impact. The state lost approximately 92,000 jobs between June 2008 and June 2009 in the sector, or a decline of 46 percent. The manufacturing sector as a whole has declined in the state by 25 percent in the same period. For a state that was known for its cars and manufacturing history, it is a really troubling sign.

The graph below shows the level of employment in the motor vehicle manufacturing sector in Michigan from 1990 to 2009. The dramatic decline in employment in the sector is having a devastating impact on the economies of many Michigan cities.


Amid all the bad news, there are some glimmers of hope in the state, and it is coming in the form of green. In the first six months of 2009, the state has seen six project announcements in the wind and solar energy sector that has brought more than $1 billion in investment and 2,000 new jobs. While this may seem insignificant when compared to the job losses in the automotive sector, it is indeed a positive sign for the state’s economy. The chart below shows the level of investment in the clean energy sector in the state since 2004.

As one can see, while the investment dipped in 2008 after growing precipitously between 2004 and 2007, the fact that the state has seen such massive increases in investment in 2009 is a testament to the state’s legacy of manufacturing expertise.

Check out the map below to review the six announcements in Michigan and read more about each of the projects:

View Green Announcements in Michigan in a larger map