Leadership Spotlight: An Interview with Nicole Muise-Kielkucki, Director

Nicole Muise-Kielkucki is one of Fourth Economy’s Directors, responsible for managing many of the firm’s strategic planning projects. She came to Fourth Economy with nearly a decade of experience in community and economic development, including managing a large neighborhood farmers’ market and investing in early-stage social impact enterprises.

We asked Nicole a few questions about her role, how it builds on her past professional experiences, and what she’s excited to accomplish at Fourth Economy this year. We also asked Nicole, who holds a Masters in Food Studies from Chatham University, to describe her dream food business.

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You are a Director of Fourth Economy. What does that entail? What does your work look like on any given day?

I joined Fourth Economy in January 2019 as our first Director, a position which at the time centered around creating and formalizing intentional project management approaches to aid our expanding portfolio. We were a much smaller team that was starting to grow, so we needed ways to effectively move more projects forward simultaneously with multiple teams. 

Since then we’ve grown from roughly a dozen talented designers, policy experts, strategists, and analysts, to close to twenty, and have evolved from a staff based mostly in Pittsburgh (we always had a couple stray folks up in the Northeast or Midwest!) to a national team living all over the United States. 

My day to day has evolved, as we have hired and developed many skilled and experienced project managers in recent years. Today I mostly focus on internal management and supporting our teams, as well as building strong relationships with our clients and partners, listening to their needs and working with them to solve problems creatively. I also spend a decent amount of my time writing, of course, with a healthy dose of spreadsheets, slide decks, and admin.

Prior to joining Fourth Economy, you spent six years at Idea Foundry, an innovation-based economic development agency that served Southwestern Pennsylvania. What made Idea Foundry unique in the regional economic development ecosystem, and what were some of the memorable investments you made during that time?  

In the 2010s, Pittsburgh had a rich tapestry of entrepreneurial support organizations (ESOs), including academic incubators, hardware accelerators, public support, private networks and workspaces, and discerning and complex venture capital firms. However, our organization was one of the only places that truly supported entrepreneurs at the earliest stage—we combined technical assistance, analysis, and coaching to prove and develop business models alongside pre-seed capital that used a very unique and special instrument, the convertible note. This allowed our investments, which ran from mini-grants of a few thousand dollars to hundreds of thousands of dollars for more mature or technically requisite companies, to be forgiven as grants if the company went under, but converted to equity pending a successful next round of funding, allowing us to share in the success but forgive the failures. 

I learned that it takes moxy and grit to run an organization that is focused solely on helping new innovations and ventures get started. I ran an investment program for social enterprises, chiefly those companies that were looking to drive a positive social impact and turn a profit. We only invested in for-profit companies, but inadvertently incubated many non-profit concepts as well. Some of the most memorable among those Pittsburgh-based companies we helped launch include Module, which designs, manufactures, and builds sustainable modular housing, Marinus Analytics, an internationally recognized, woman-owned and led AI company that disrupts human trafficking and criminal profiteering from exploitation of vulnerable people, and Optimus Technologies, which designs and retrofits heavy duty fleet vehicles with biofuel systems.

I believe efforts like these can help transform communities, and prove that wealth building and increasing societal well-being do not need to be mutually exclusive. 

Fourth Economy has developed a particular expertise in developing economies around recreational and outdoor assets. Why do you think it’s such an important market to address, and what are some of the projects you have worked on?

I have loved leaning into work with communities that are looking to capitalize on their natural, cultural, and historical assets to drive economic development and prosperity. Outdoor recreation in particular has had a recent surge in attention as more communities are thinking about how to develop and market trails, parks, and public spaces that people cherish, to attract visitors and talent, and increase quality of life for those new and longtime residents in the area. 

This can be especially powerful in rural areas that have experienced disinvestment, creating new economic opportunities and enhancing quality of life simultaneously. 

Some recent projects that exemplify this are our work supporting the recent launch of the Pennsylvania Outdoor Business Alliance, developing an Outdoor Recreation Business Inventory and Economic Impact Study for the 10-county northwest Michigan region, and helping to create Maine’s first statewide Outdoor Recreation Economy Roadmap.

What do you hope to accomplish with Fourth Economy this year? 

I hope to spend this year continuing to build partnerships with organizations working on wicked problems like housing or building up local outdoor and cultural economies. In general I find placemaking that is authentic to be extremely powerful. It’s important to identify and celebrate the things that make your community unique—I believe that’s the only thing that actually succeeds in attracting new people. No one is excited to move to a city or town for its cookie cutter town centers or residential subdivisions. Creative and entrepreneurial people crave real gems in the rough that are off the beaten path, and to be inspired by experiences that are uniquely “that place.”

I am excited to continue creative work with communities that are advancing local leadership to protect and strengthen their capacity to drive change.

You are a foodie! If you could start any food or beverage business, what would you do? 

I dream of opening a tinned fish bar on the coast (coast agnostic). Low spoilage, high margins, and good times by the water? Perfection!