Entrepreneurship at the Heart of Economic Development Policies

At the MAIN Summit in February 2026, Zachary Barker, Director of Entrepreneurship at theInternational Economic Development Council (IEDC), delivered a memorable speech on a key issue for the future of our regions: entrepreneurship must be central to economic development policies

His message was clear: local economies do not become resilient by relying solely on attracting or retaining large companies. They become resilient when they make long-term investments in their own entrepreneurial talent.

Economic Development: What Are We Really Talking About?

In its simplest form, economic development aims to build diverse and resilient economies. In other words, economies that are not dependent on a single sector, can weather crises, and bounce back.

To illustrate this point, Zachary Barker cited the example of Louisiana, where a heavy reliance on oil and gas makes the economy vulnerable to market fluctuations. When the industry is doing well, everything seems to thrive. When it collapses, communities pay the price.

Entrepreneurship as a Structural Solution

According to Zachary, entrepreneurship should not be viewed solely as a collection of individual projects, but as a dynamic infrastructure for economic development.

Why? Because entrepreneurs:

• create new businesses,
• diversify the economy,
• innovate based on real needs,
• become more deeply rooted in their communities,
• help build prosperity that is less dependent on major external decisions.

Investing in local entrepreneurs means investing in people who already know the area, who share its culture, networks, and challenges, and who often have a deep emotional connection to their community.

Professionalizing Entrepreneurial Support

Another key point in his speech concerned the professionalization of support for entrepreneurship.

In his view, we must acknowledge that:

• Professionals who support entrepreneurs develop specialized expertise;
• the organizations where these professionalsplay a strategic role in economic development.

Entrepreneurs would benefit from greater recognition of these individuals and organizations. 

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Incubators as Talent Pipelines

An incubator or accelerator just a place. It’s a hands-on learning environment. It’s not just a place to develop ideas; it’s a place to develop skills, instincts, resilience, and the ability to sell, plan, model, and bounce back. In other words, it’s where economic talent is cultivated.

This perspective brings entrepreneurship closer to main development policies. And this is a significant shift: if governments come to recognize entrepreneurial training more as an investment in skills, new avenues for funding and legitimacy may open up.

A message that is particularly relevant to Quebec

The conversation between Zachary and Louis-Félix Binette, CEO of MAIN, also highlighted something fundamental to Quebec: the province is brimming with raw talent, ingenuity, resourcefulness, and the ability to come up with solutions.

What is all too often lacking is not potential. It is the infrastructure, recognition, and strategy that enable that potential to become a fully realized economic force.

Ultimately, the core of Zachary’s message can be summed up in one sentence: we must invest in the people who start or take over local businesses. Attracting a multinational corporation can sometimes make sense. But that cannot be the only strategy. A resilient region is also—and perhaps above all—built by unlocking the entrepreneurial potential that already exists within it.

This is where entrepreneurial hubs, incubators, accelerators, and support organizations play a vital role. Not on the periphery of economic development, but at its very heart.

Zachary Barker’s talk at the MAIN Summit reminds us of one essential thing: entrepreneurship isn’t just an individual journey. It is a collective driver of economic transformation.