A few years ago, there seemed to be a continental divide between the “old economy” and the “new economy,” and the state in which I live, Michigan, appeared to much of the world as the poster child for the former. Never mind that Michigan had been in the top 5 nationally for such important innovation bellwethers as university research, patents issued, and engineering workforce; to much of the U.S., we were still the “rust belt.”
Some of that reputation was earned, as the state was best known for a few very large auto companies whose success over the 20th century attracted a preponderance of our talent, sapping much of our entrepreneurial spirit and leaving Michigan’s economy subject to the wild swings of a single industry. Consequently, while we were advanced technologically, we were a region that lagged in the creation of innovative new companies and rarely strayed from the middle of the pack in terms of attraction of venture capital dollars.
To read the full, original article click on this link: Michigan: An Unexpected Role Model for Growth | Xconomy
