For generations, Maine’s lobster industry has been the backbone of our coastal economy and the cultural anchor of our working waterfronts. Yet like many resource-based industries, it faces headwinds — warming waters, shifting lobster populations, uncertain economic conditions, and an evolving regulatory framework. For families whose livelihoods rise and fall with the tide, these pressures are not abstract; they’re a daily reality.
Island Institute’s Future of Fishing program exists to meet this moment. Our mission is to help Maine’s lobstering communities chart a course toward long-term economic resilience — safeguarding today’s fishing businesses while opening doors to new opportunities tomorrow. Funded through a Congressional Direct Spending award from the U.S. Small Business Administration and championed by U.S. Senators Susan Collins and Angus King, the program focuses on three priorities:
- Encouraging entrepreneurship and income diversification,
- Supporting small business development, and
- Building skills for the next generation of marine entrepreneurs.
Partnering with Maine’s Entrepreneur Experts
One of the most powerful outcomes of this federal investment has been the launch of a strategic partnership between Island Institute and the Maine Center for Entrepreneurs (MCE). For more than two decades, MCE has been the state’s go-to hub for small business innovation — running flagship programs like Top Gun that have helped hundreds of Maine entrepreneurs grow, attract capital, and compete in their markets.
By combining MCE’s proven accelerator model with Island Institute’s deep relationships in fishing communities, we are creating something uniquely tailored for the coast: an accelerator that meets fishing families where they are, with the tools, mentorship, and capital connections they need to launch and grow new ventures.
Introducing the Fishing Plus Accelerator
Fishing Plus is designed for lobstermen, crew members, and their families in fishing-dependent communities who have a business idea — or an existing side business — and want to take it to the next level. Over the course of eight sessions, participants will move from concept to execution, building a business plan, sharpening financial skills, and learning to pitch their ideas to investors, lenders, and customers.
The curriculum blends interactive learning with one-on-one mentorship, practical tools, and connections to Maine’s entrepreneurial ecosystem. Topics include:
- Business Readiness – Aligning personal and business finances, setting SMART goals, building a business model canvas.
- Financial Skills – Budgeting, cash flow management, break-even analysis, and choosing accounting tools.
- Operations – Selecting the right business structure, navigating permits, and streamlining day-to-day management.
- Market Fit – Customer discovery, value proposition design, and market research.
- Marketing & Sales – Branding, digital marketing, sales strategies, and customer retention.
- Capital Access – Learning where and how to access financing, plus live pitch coaching.
- Diversification Pathways – Exploring new revenue streams beyond traditional fishing, with real-world success stories from industry peers.
- Final Pitch Celebration – Presenting to a panel of community leaders, investors, and lenders.
The program’s design builds on many years of lessons from Maine’s blue economy and rural entrepreneurship. When it comes to starting new businesses on Maine’s coast, community support and knowledge are just as critical as a good idea and the right team. Fishing Plus weaves these elements together, giving participants the confidence, tools, and connections to turn vision into reality and create ventures that can thrive in Maine’s coastal communities.
Who can apply
Fishing Plus is open to:
- Current or former fishermen and crew members,
- Family members in fishing households, and
Whether you’re looking to start a business on the water or online, this accelerator will help you move from concept to launch with the support of experts who understand both small business growth and the realities of working on the water.
Applications are now open through September 13th.
Learn more and apply here.
