2023 Edition

Since 1997 MassTech has produced and published the Annual Index of the Massachusetts Innovation Economy, the Commonwealth’s tool for benchmarking the status and progress of our innovation economy.

Below find the charts for the Index divided by category.  Click on the + symbol to open each accordion.

The Index compares Massachusetts’ performance on a number of metrics to a group of “Leading Technology States” (LTS). The LTS have economies with a significant level of economic concentration and size in the 11 key sectors that compose the Innovation Economy (IE) in Massachusetts.

Eleven Key Innovation Economy Sectors

  • Advanced Materials
  • Biopharmaceuticals & Medical Devices
  • Business Services
  • Computer and Communications Hardware
  • Defense Manufacturing and Instrumentation
  • Diversified Industrial Manufacturing
  • Financial Services
  • Healthcare Delivery
  • Postsecondary Education
  • Scientific, Technical, and Management Services
  • Software and Communications Services
 

 

 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 

 
 
 
 
 
 
 


*Note: The two IPOs for IL in 2023 don't have reported dollar totals

Venture Capital Investment
Massachusetts and LTS, 2013 and 2019-2023

Venture Capital Investment

Venture Capital Investment: Crowdfunding and Angel Investing Number of Deals, Dollar Total of Deals and Average Deal Size
Massachusetts and LTS, 2019-2023

Venture Capital Crowd Funding

 
 
 
 
 
 
 
 

Engage

The Index is an important tool enabling stakeholders and policymakers to engage in dialogue, and to ask and answer: What will it take to preserve, enhance, strengthen and grow the industry clusters of the knowledge-based innovation economy in Massachusetts?

For questions or to learn more about the Index please contact William Fuqua.