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Economic growth is nothing more than the sum total of growth in businesses everywhere - in communities, as well as the state and the nation. And so strategies and policies that are aimed at producing economic growth must ultimately help businesses grow. How can we make that happen?
One way is to literally do just that - work with individual businesses and provide them with tools, knowledge, advice and support. It's happening in Montana as we speak. There are programs and resources around the state that provide a wide range of support, especially for startups and emerging businesses. Perhaps the best way to tell you about them is to recount the story of how one business grew. So let's meet Agile Data Solutions, a startup based in Missoula, as it navigates its way on the path to business success.
As many startups do, Agile Data Solutions sought to address a need. As a practicing attorney and University of Montana computer science professor, Joel Henry wanted to create a product that would reduce time and costs associated with the legal discovery process. And so what began as a UM research project conducted with students evolved into a desktop software solution that makes "conceptual searching" possible. The technology hunts through hundreds of thousands of documents and deduces the concept behind keywords (including misspellings and acronyms), saving small- and medium-sized law firms considerable time and money. When commercialization of the project became a distinct possibility, Henry turned to Montana Enterprise Center (MonTEC) for help.
Montana Enterprise Center (MonTEC)
Home to pioneering entrepreneurs, MonTEC is a technology incubator, providing space, internet access, conference rooms, and video conferencing to fledgling businesses. Whether a business is in need of interns, seed funding, or business mentoring, MonTEC is there to make connections. To make a start, Henry knew he would need a mentor, and MonTEC President Joe Fanguy took on that critical role.
Fanguy encouraged Henry to pursue commercialization and use MonTEC services to lay the groundwork. "We started at MonTEC as an affiliate, which means we didn't have an office, but we could use their rooms for meetings and video conferencing, as well as have a mailbox," said Henry. Having these facilities at his disposal simplified scheduling meetings with his...