Helping Startup Entrepreneurs Turn Project to Career

Colleen Francke, Summit Point Seafood Founder, always knew she wanted to be on the water, but after nearly a decade offshore lobstering, she set her sights on something new — kelp production.

“Kelp is really an amazing product for the environment,” said Colleen. “It requires zero inputs – no fertilizer, no feed and no fresh water to grow it, and in return sucks up significant amounts of carbon and nitrogen from the water as it grows, which helps to clean the bay.”

Today, Colleen harvests macroalgae, the large brown kelp, on 18 acres in Casco Bay, Maine. Production starts indoors in the fall and in November is transplanted to horizontal lines that run about seven feet below the water’s surface. The kelp grows over the winter and is harvested in spring.

Collaborating to Provide Business Guidance

Early in her business, Colleen was introduced to FarmStart, a Farm Credit East program that provides working capital investments of up to $75,000 to Northeast agricultural ventures showing promise of success with limited financial resources. Through FarmStart’s collaboration with SCORE, a small business mentoring program, Colleen was able to also gain valuable business insights.

“SCORE was the most valuable component of the FarmStart program for me. My advisor helped me think through every aspect of the business, helped to identify gaps, and prepare for potential market fluctuations. This helpful learning tool turned my project into something I could actually make a living at,” said Colleen.