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March 4, 2024 Edition

Growing pains: Maine life sciences, biohealth startups hustle to raise capital in a tough environment

Renee Cordes

Even during good times, early-stage life sciences and biohealth businesses in Maine frequently have to work harder than their peers in bigger markets to woo investors.

Today's Poll

Do you have a side hustle?
Poll Description

In the latest installment of our “Made in Maine” series, we visit the Gorham studio of textile designer Erin Flett, who has turned her after-hours basement side hustle into a well-known brand with a national wholesale network.

Nationwide, side hustlers started a record number of businesses during the pandemic. Today, a growing number of younger professionals are supplementing their income with a side job, as shown in a survey by Bankrate, the personal finance website. It found that 34% of Gen Zers (ages 18 to 28) have a side hustle, outpacing millennials (31%), Gen Xers (23%) and boomers (22%).

While some people can turn their side gigs into profitable businesses, others keep hustling their entire working lives –  or have neither the time nor the interest to do so. 

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