EDITOR'S NOTE

It starts with an idea

"Entrepreneurship is New Hampshire's secret weapon. The more we can foster it, the better off we are."

So says William Osgood, who, along with his wife, Deborah, founded BUZGate — which stands for Business Utility Zone Gateway — as a philanthropic gift to entrepreneurs.

BUZGate is now a leading, world-wide resource portal for start-up, small- and medium-sized businesses that was developed by the Exeter-based Knowledge Institute. (See story.)

Indeed, entrepreneurs abound on the Seacoast.

They are attracted by the location, diversity of businesses, a pro-business climate and the state's lack of an income tax.

New Hampshire companies received $71 million in venture capital in the first quarter of 2007, nearly matching the funding in all of 2006, according to a study done earlier this year by the Economic and Labor Market Information Bureau of New Hampshire Employment Security. (See story.)

It was the highest share in northern New England, with 77.3 percent.

Small- to medium-sized businesses remain growing segments of the region's economy.

Some of that is brought about by sheer determination, drive and previous businesses experiences of the entrepreneurs.

But others are looking for a change. And one way of making that come about is by going back to school.

For those people, the Seacoast and the state schools offer a myriad of programs geared to fit just about anyone's needs. (See story.)

For instance, Keith Moon, director of the Entrepreneurship Center at Southern New Hampshire University, said enrollment in business programs is boosted by a shaky economy.

"I'm seeing what we saw back in the 1980s, people are in transition," he said. "They are looking for career transitions by being able to further their skills."

But, for most entrepreneurs, the toughest part of following their concept through to creation is ... the money, the funding.

Enter the state of New Hampshire.

As Shir Haberman writes (See story.), lawmakers during the last legislative session "took an unusual and risky step in an effort to feed this need for funding and, in the process, recognized that the state's current and future economic growth is firmly rooted, not in buildings and machinery, but in ideas.

"The Legislature passed — and Gov. John Lynch signed — Senate Bill 242. It established an intellectual property business loan development program that will provide a state guarantee for certain business loans based on the appraised value of what is basically an idea."

It would appear that the state agrees with William Osgood that entrepreneurship is indeed New Hampshire's secret weapon and the more we foster it, the better off we will be.

Some of the other interesting people featured in this month's Ventures include: