New West Festival

Rise of the Rockies

May 6, 2011

Diane Smith – Author, Tech Entrepreneur,

Corporate Executive, Investor, Attorney,
Mom, Wife, Board Member, Consultant
 Our Story
 D.C. corporate executive in telecom industry
 8800 people per square mile v. 18 people per
square mile
 Technology more important in rural than urban
America
 New Opportunity Equation – Becoming an
Entrepreneur in Kalispell, MT
 Avail-TVN: $0 - $30M in 4 years, company still
going strong, revenues upwards of $100M today
dsmith@northforkstrategies.com ~
12/09/2021
406.250.4328 ~ www.thenewrural.com
“It’s one of Rural America’s great secrets and assets. The most interesting
and pioneering people choose to live here.”

dsmith@northforkstrategies.com ~
12/09/2021
406.250.4328 ~ www.thenewrural.com
 Who is Rural?
 About ¼ of U.S. population, abundance of definitions
 51% of Americans report that they would prefer to live in either a
small town (30%) or rural area (21%)
 By a ratio of 3 – 1 Americans prefer living where the pace of life
is slow and neighbors know each other well
 No longer a farmer’s world – only 6.5% of the rural labor force is
engaged in farming
 Recreation, amenity and retirement counties are where the vast
majority of Rural America’s growth is occurring
 Education attainment is higher here than ever before. In 2005
nearly one in six rural adults had a 4 year college degree, about
twice the share of a generation ago.
dsmith@northforkstrategies.com ~
12/09/2021
406.250.4328 ~ www.thenewrural.com
 There’s Been a Revolution
 Distance and remoteness used to be functions
of geography – not anymore
 Analysts predict 95% of U.S. homes will have
access to wired broadband by 2015
 Access to wireless broadband is speeding –
95+% of U.S. homes in next few years
 Satellite broadband is becoming a reality
 So?

dsmith@northforkstrategies.com ~
12/09/2021
406.250.4328 ~ www.thenewrural.com
 Technology Revolution Impact
 Remote HealthCare  Telecommuters
 Distance Learning  Extreme Commuters
 U.S. Military began in  Software and Internet-
1996 based Businesses
 Access to Financial  Green Energy
Capital Businesses
 24/7 Access to  Project Workers
Customers, Vendors,  Baby Boomer
Worldwide Markets
Entrepreneurs

dsmith@northforkstrategies.com ~
12/09/2021
406.250.4328 ~ www.thenewrural.com
 On Everybody’s Radar Screen
 The Kauffman Foundation, in a 2010 report stated,
“When it comes to U.S. job growth, startup
companies aren’t everything. They’re the only
thing…(N)et job growth occurs in the U.S. economy
only through startup firms.”
 “When I worked in D.C., I knew plenty of patent
lawyers, but not a single inventor. Within months
after moving to Montana, I knew dozens of
inventors, but only one patent lawyer…”
 USDA = U.S. Department of Everything
dsmith@northforkstrategies.com ~
12/09/2021
406.250.4328 ~ www.thenewrural.com
 Successful Entrepreneurship
 Access to Physical Capital
 Either you have it or you don’t
 Technology infrastructure is key
 Access to Intellectual Capital
 Now available over vast distances
 Must manage remotely
 Access to Financial Capital
 Finally moving beyond large urban centers
 Growth of Angel Funds
 MT’s Frontier Fund - $1.75M to invest
dsmith@northforkstrategies.com ~
12/09/2021
406.250.4328 ~ www.thenewrural.com
Rural Entrepreneurship Challenges
 Old Mindsets
 2007 Isserman Study for USDA – “The language
of decline and disadvantage dominates discussions
of Rural America…”
 Inexperienced Professional Support
 Attorneys, Accountants, etc.
 Bricks and Mortar Affection and Policies
 Resistance to Travel

dsmith@northforkstrategies.com ~
12/09/2021
406.250.4328 ~ www.thenewrural.com
 Rural Entrepreneurship Opportunities
 Rural Entrepreneurs are an abundant natural resource
 Our Kids
 “Ronan Team Wins Robotics Title”
 WHS – 2011 trips to NYC, France, Orlando/DECA
 AKTP’s Multi-High School Production of Rent
 Self-Reliance/Inventiveness/Elbow Room/Pioneering
Culture
 Political Accessibility
 Mentoring/Customer Insight Opportunities
 Avail’s first $1M from MT Telco
dsmith@northforkstrategies.com ~
12/09/2021
406.250.4328 ~ www.thenewrural.com
“Rural America has inventors, innovators, and risk takers, all key
benchmarks for successful business creation. Angel funds are
growing, and despite the recent recession, they continue investing
in local, well-run start-ups. Hard workers abound, labor is
frequently cheaper than in cities and institutions of higher learning
(universities, colleges, and community colleges) are willing to
modify their curriculums to educate their students for the labor
demands they see nearby. Young and old workers alike want to
live in areas that provide good recreation, child rearing, and
slower pace. For the right jobs, workers are willing to relocate to
these rural communities. Combine these assets with sound 21st
century policy and Rural America can be an even greater
economic engine for the Nation – far beyond its current
achievements.” From TheNewRural.Com

dsmith@northforkstrategies.com ~
12/09/2021
406.250.4328 ~ www.thenewrural.com
 The Future of Rural Entrepreneurship
 Rural America’s future no longer constrained by distance
and isolation
 Vitality in Rural America has become a reality again –
CenturyLink evolution
 Distance education, remote healthcare, access to financial
capital and the arts – all key
 At the beginning of a perfect storm of opportunity
 Technologies first connected locations, then people, now
machines
 Technology access and services are increasing, prices are stable

dsmith@northforkstrategies.com ~
12/09/2021
406.250.4328 ~ www.thenewrural.com
Welcome to The New Rural
Thank you!

Dsmith@northforkstrategies.com
www.thenewrural.com
406-250-4328