Economic Impacts

Economic Growth is Our Business

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The Innovation Institute at the Mass Tech Collaborative has experienced continuing success designing and implementing important economic development programs that make positive contributions to the innovation economy in Massachusetts.

Using an innovative, stakeholder-led process, the Innovation Institute helps identify and develop opportunities for economic growth and supports industry-led initiatives within the innovation economy. Working region by region and sector by sector, the Innovation Institute has partnered and invested with academia, businesses, government, and civic organizations to help create conditions for a vibrant and growing innovation economy across the Commonwealth.

This collaborative model allows us to serve as a powerful catalyst, helping turn good ideas into economic opportunity across the Commonwealth.

The Innovation Institute has:

  • Made 85 investments totaling over $35 Million dollars resulting in over $233 Million dollars of additional investment from federal, private and civic sources for a 6:1 ratio;
  • Managed hundreds of economic development projects in the Commonwealth; and
  • Interacted and engaged with over 1,400 companies, universities, regional & local economic development entities and business associations through collaborative efforts and investments.

Our collaborative model has a proven track record. Examples of our success include:

  • Organize and support the public-private Mass Tech Hub Collaborative to advance competitiveness in the Commonwealth’s tech sector and strengthen its contributions to the state economy;
  • Development of the Massachusetts Life Sciences Collaborative, which supported the formation of the Massachusetts Life Sciences Center;
  • Launched the Governor’s Advanced Manufacturing Initiative;
  • Jump-started crucial science and engineering infrastructure for Woods Hole Oceanographic Institution catalyzing long-term growth in the marine sciences; directly leveraging $600 million in federal funds and impacting 140 Massachusetts companies;
  • First investors in MassChallenge, our state’s globally-recognized business startup competition;
  • Provided development support and investments in the Massachusetts Green High Performance Computing Center in Holyoke;
  • Spearheading an innovation-based economic development strategy for Pioneer Valley;
  • Provided initial investment and strategic support for North Shore InnoVentures, a thriving startup incubator located in Beverly, Massachusetts;
  • Provided initial investment and support to create MassDiGI, the Massachusetts Digital Gaming Institute at Becker College in Worcester;
  • Invested in the development of five university-based research centers, such as the Nanomanufacturing Center of Excellence at UMass Lowell and the Center for Excellence in Apoptosis Research at the Pioneer Valley Life Sciences Institute, which have resulted in industrial/academic partnerships, industry sponsored research, and new commercial technologies.
  • Spearheaded the Mass Tech Hub’s 12x12 Entrepreneurship Initiative supporting 17 new company start-ups that are collectively capitalized at $8o million and employ 250 people.