MASSACHUSETTS A COLLABORATIVE SPACE FOR EVERY IDEA Accelerators, Incubators & More Start your Company in THE Innovation State

Massachusetts is ranked “best in class” by multiple surveys for R&D intensity, productivity, high-tech density, concentration of STEM employment science and engineering degrees, and patent activity.

Bloomberg’s 2016 U.S. Innovation Index ranks Massachusetts--#1 in Milken’s Massachusetts as the “Most Innovative State.” Annual S&T Index every year since 2002.

2 Strong Innovation & Startup Ecosystem

550+ Biopharma Over (?) companies in DOMINANT Over 350+ Digital 500+ Big Data/ Data companies and 400+ the Robotics Health Companies Analytics Companies CLUSTERS Medical device Cluster/Internet of (source: MassTLC) (source: MassTech) makers things (source: MLSC) (source: ABI Research)

#1 in Top R e loc a tion Highest Percentage TALENT & #1 in Overall Quality Destination for (46.1%) of Adults in Most STEM Degrees of K-12 Education College-Educated US with a Bachelor’s per million residents Systems WORKFORCE Adults’ Degree or Higher (source: NCES) (source: Education Week) (source: Census) (source: Census)

13 Leading #1 R&D State as a #1 State for NIH 6,777 Patents Granted RESEARCH & University/Non-Profit percentage of GDP Research Funding to Universities and DEVELOPMENT Research Centers in in Updated this per $1 Million GDP Firms Massachusetts (source: NSF) (source: NIH) (source: USPTO)

700+ VC 2.6B in VC Professionals from 5.8B in Total VC 115 Collaborative Investments Early Stage Funding SOURCES OF 80+ Firms Workspaces (source: PWC) (source: PWC) CAPITAL (source: NEVCA)

3 Collaborative Workspaces: Anchoring and Fueling the Eco-system

4 Workspace for All

A Culture of Sharing, Community and Connections. Collaborative Workspaces provide shared infrastructure and administrative support systems to let entrepreneurs focus on their business.

5 Across the Commonwealth

Massachusetts offers a dense network of accelerators, incubators, co-working spaces and makerspaces.

By the numbers*: • Incubators: 31 • Accelerators: 17 • Makerspaces: 25 • Co-Working Spaces: 42

*Defined as available workspace for entrepreneurs and start up firms working in technology and innovation.

6 Which Space is Right for Your Business?

Model Physical Space Programming/Support Lease Terms Examples Type of Entity INCUBATOR Mostly shared space; open Explicit mission focus; integrates Curated application; Greentown Labs, Typically not-for- floor plan; often with mix business support & TA; emphasize typ. 2-3 year timeline; UMass Dartmouth profit of office and specialized collaboration, community rent terms vary CIE, BOLT equipment Some Take Firm Equity in exchange for Capital.

ACCELERATOR May or may not include Focused specifically on jump Competitive/curated; MassChallenge, Mix of for-profit and physical space starting a business; typically typ. time-restricted to EforAll, Smarter in non-for-profit. formal curriculum; space/ @ 6 months or less the City, Cleantech program often free; emphasize Open Some offer collaboration, mentoring, Competitive Cash knowledge-sharing. Prizes

MAKERSPACE Mostly shared space; open Mostly arts & tech focused; Hourly, monthly, AS 220, Artisans’ Typically not-for- floor plan for creative limited formal business support, annual membership; Asylum, TechShop profit industries; equipped but lots of classes, skill-sharing, no specific time w/specialty tools focus on collaboration constraints

CO-WORKING Mostly shared space; open Emphasizes collaborative work Membership-based; Work Bar, Space Typically for-profit floor plan; often focused environment; on-site staff offers Flexible terms-Hourly, with a Soul, Click, on specific industries events, trainings, org, gatherings monthly Cambridge and general admin. Innovation Center, Impact HUB, Running Start

7 Incubators: Grow your Business

8 Incubators

Incubators are more likely to admit startups on a rolling basis, and are often less timeline-driven than accelerators.

Amenities Offered • Business planning • Financial management • Access to capital • Legal/organizational structure • Marketing, procurement, and sales • Mentoring & coaching • Networking • Entrepreneurship educational events • Access to equipment & facilities

9 Incubator Spotlights ______

Greentown Labs serves the needs of cleantech NSIV enables success by working with businesses and entrepreneurs by offering customized 33,000 sq. ft. entrepreneurs to bring ideas to reality. Operating a facility that offers co-located office space and 10,000 sq. ft. technology business incubator focusing prototyping lab space. Since 2011 startups at on clean tech and life science sectors. Since 2008 at Greentown Labs have collectively raised more than NSIV more than $168M in investments, awards, and $200 Million in funding. grants has been raised by startups.

10 Incubator Spotlights (Con’t)

TechSpring ______Hack/Reduce is the epicenter of the Big Data Launched in 2014 by Baystate Health, TechSpring community in Boston by working with top-tier provides technology companies access to a real, live companies and talent to help them build the health system using a proven process and platform to relationships they need to found or join the next great test and validate digital health solutions. 12,000+ technology companies. Using the power of employees work across a region-wide integrated the AngelList platform, when a lead finds a company delivery network, five hospitals and 1000 beds, they want to invest in, hack/secure backs that lead’s including a flagship teaching hospital and 90+ medical investment with up to $250,000 of additional investment practices. capital.

11 Incubator Programs

Name/Location Description Website

Greater Boston Region

A 33,000 square foot facility for green / energy tech startups. In addition to office space, Greentown Greentown Labs/Somerville provides a well-equipped machine shop for prototyping, and hosts many events that give member http://greentownlabs.com/ companies opportunities to connect with press, partners, investors, and talent.

Cogo Labs was originally founded in 2005 as Adverplex and has incubated some of the Boston area’s fastest-growing web companies. They “combine entrepreneurial business leadership with a unique Cogo Labs/Cambridge http://cogolabs.com/ platform of proprietary technologies for algorithmic marketing, data mining, and quantitative business analytics.”

Focused on big data, this incubator has a unique ‘co-creation’ model, pairing founding teams with ideas Hack/Reduce from hack/reduce advisors. Companies formed in this way are their own, independent companies, with http://hackreduce.org /Cambridge access to the hack/reduce space and partners for up to a year.

Health Innovators is a community of healthtech innovators, comprised of an ecosystem of clinicians, Health Innovators/Somerville programmers, investors, product managers, business developers, doctors and health professionals whose http://healthinno.org/ mission is to help turn ideas for improved healthcare into reality.

The Quincy Center for Innovation (QCI) is a unique co-operative work environment supporting start-ups and early phase companies. Members will have access to mentors and individuals who are there to help http://quincyinno.com/ Quincy Center for Innovation you plan and grow your business.

The Roxbury Innovation Center is "a civic experiment that will support local economic development by http://roxburyinnovationce Roxbury Innovation Center/Boston encouraging innovation and entrepreneurship." The Center is designed as a space for "groups to provide nter.org/ programs that support innovators, entrepreneurs and business founders."

The VDC is a paid workspace for tech and biotech ventures. Hosting as well entrepreneurs-in-residence, UMass Venture Development with a special program for international founders to obtain a cap-exempt H-1B visa in exchange for acting http://vdc.umb.edu/ Center/Boston as a mentor to members and entrepreneurial UMass faculty, students, and alumni

12 Incubator Programs (Con’t)

Name/Location Description Website North/South Regions CapeAnn Business CABI provides a professional working environment where small businesses can receive education, technical assistance, http://businc.org/ Incubator/Gloucester office space, shared services and access to financing and other professional services. CreaGen Life Science Incubator (C2I) providing companies with acces s to state-of-the-art laboratory space, CreaGen/Woburn shared/private office space, mentoring, business development services, as well as a host of complementary technology http://creagenbio.com/ and development services.

M2D2 offers office space, grant-writing assistance, medical expertise, regulatory support and other services for medical https://uml.edu/Research/M M2D2/Lowell device entrepreneurs. M2D2 offers a range of no-cost and fee-for-service options 2D2/Default.aspx

North Shore InnoVentures North Shore InnoVentures provides physical resources, sponsor services, experienced entrepreneurs and investment http://nsiv.org/ /Beverly advisers together to help cultivate early staged companies

UMass Dartmouth’s Center for Innovation and The CIE offers three business areas to support these goals: Research and Partnering Laboratories, a Conference Center http://atmc.umassd.edu/ Entrepreneurship (CIE)/Fall and a Technology Venture Center. River

Central/WesternRegions Opening in 2017--Berkshire Innovation Center will provide advanced capabilities to small and medium sized Berkshire Innovation manufacturers: Advanced R&D Equipment (3D Printing – Plastics and Metal, Precision Measurement, Laser Scanning, http://businc.org/ Center/Pittsfield Materials Analysis & Testing, High Power Microscopy and more).

OIC strives to cultivate each businesses success by developing an environment where each entrepreneur has the http://orange- Orange Innovation Center structure and support for success. innovation.com/

TechSpring provides digital health startups an environment to test and prove solutions by accessing healthcare TechSpring http://techspringhealth.org/ technology systems and informatics. Health/Springfield

Formerly the WPI Venture Forum, they have offered a foundation for learning and networking essential for launching and Venture Forum/Worcester http://theventureforum.org/ growing a successful technology business since 1990. Worcester Cleantech WCTI provides access to the physical, network, and capital resources companies need to propel ideas to market. http://wcti.org/ 13 Incubator Providing in-hous e advis ing, mentorship, networking support, and external services. Accelerators: Speed up Your Idea

14 Accelerators

Accelerators’ major difference from other collaborative workspaces is the fixed structure of the program with beginning and end dates, as well as, the competitiveness of applying to the accelerator program.

Amenities Offered • Business planning • Financial management • Access to capital • Legal/organizational structure • Marketing, procurement, and sales • Mentoring & coaching • Networking • Entrepreneurship educational events

15 Accelerator Spotlights ______MassChallenge is a not-for-profit accelerator The most startup-friendly digital health lab, connecting providing startups with the access and resources entrepreneurs to experts, institutions and resources they need to succeed - from free office space to with no equity taken. Connecting entrepreneurs with mentoring, workshops and global network access. world-class strategic partners in healthcare

Since 2010, MassChallenge has accelerated 835 Pulse@MassChallenge and partners will award up to startups, which together have raised $1.3 billion in $250,000 in no-equity scholarships and prizes at funding, generated over $500 million in revenue and beginning and conclusion of the program. created over 6500 jobs across the world.

16 Accelerator Spotlights (Con’t) ______Located in Springfield, Massachusetts VVM Multiple locations in Fall River, Lawrence, Lowell builds, supports, and maintains a and New Bedford serving both English and community committed to nurturing startups. Spanish language participants.

Its primary accelerator program involves four EforAll offers twice yearly Accelerator Programs, months of intense training and critical support where 15-20 entrepreneurs work with mentors with the opportunity for participants to win up to and experts to move their ventures forward $50,000 each (equity-free) to develop their quickly. businesses.

17 Accelerator Programs

Name/Location Description Website Greater Boston Region At Healthbox, entrepreneurs choose to partake in one of the 16-week programs where they will receive customized support intended to address the encounters unique to starting a business in Healthbox/Boston https://healthbox.com healthcare.

idea is Northeastern University’s Venture Accelerator. Begun in January 2009 as a request by Northeastern students who were seeking a place to “support entrepreneurial endeavors” on Idea Northeastern campus. Student and alumnae entrepreneurs are assisted by a team of established mentors, service http://northeastern.edu/idea/ University/Boston providers, and advisors.

http://masschallenge.org/progra MassChallenge is a non-equity accelerator providing a four-month program, mentorship, office MassChallenge/Boston ms/boston space, education, network & community, and other resources.

MIT Global Founders’ Skills The MIT Global Founders’ Skills Accelerator (GFSA) is MIT’s student venture accelerator, providing a http://entrepreneurship.mit.ed Accelerator/Cambridge three-month-long capstone educational opportunity for MIT student entrepreneurs. u/accelerator/

TechStars offers a three-month program, taking 6% equity from companies admitted, and provides Techstars/Boston capital in two forms: $20,000 for living expenses, and the automatic offer of a $100,000 convertible http://techstars.com/contact/ note.

TiE ScaleUp offers a five-month accelerator program that does not provide capital and no fees are TiE ScaleUp/Boston charged or equity taken. http://tiescaleup.org

StepLadder helps business accelerate and step up to the next level more quickly. Tap into StepLadder Step Ladder/Boston for capital sourcing, advisory, strategy, finance, business development, product management and http://stepldr.com/ engineering, digital design and marketing and much more.

18 Accelerator Programs (Con’t)

Name/Location Description Website

North/South Regions

EforAll is a 12 week program that gives entrepreneurs the opportunity to move their businesses EforAll/Lowell, Lynn, New Bedford, forward. During the program, there are workshops, mentors, and an opportunity to share a $30K https://eforall.org/ Lawrence & Fall River Prize Pool

IoT Impact LABS provides early stage IoT companies, tech and industry leaders, small and mid-sized Internet of Things Impact Lab enterprises and subject matter experts to instrument the physical world with intelligence and https://iotimpactlabs.com/ /Fall River intention for profit and resilience.

Central/Western Regions

Kayon Accelerator combines seed capital, hands-on help and a great co-working location with an https://kayonaccelerator.com Kayon Accelerator/Amherst expert team to positively impact the trajectory of early-stage startups. The Accelerator runs two, four- /#accelerate month programs per year.

SPARK Launch Program is a nine-week business development course that will allow you to define your SPARK/Holyoke business and get it up and running. Meet and work with other aspiring entrepreneurs who are facing http://sparkholyoke.com/ similar challenges with their start-ups and develop relationships with mentors.

TechSandBox helps accelerate the success of science and technology entrepreneurs in Massachusetts. TechSandBox/Hopkinton http://techsandbox.org The aim is to enable access to information, education, expertise, and support.

VVM offers a four-months of intense training and lovingly critical support. Free office space from Valley Venture Mentors/ http://valleyventurementors. January through May 2017. Startups compete to win up to $50,000 each (equity-free) to develop their Springfield org/ businesses. 19 Makerspaces: Create Your Idea

20 Makerspaces

Makerspaces provide shared-use tools and materials in order to defray the cost of purchasing expensive machinery individually.

Amenities Offered • Shared Machinery • Lathes • Drill Press • Wood Shop • Fiber Arts Equipment • Laser Cutters • 3D Printer • Computer Aided Design

21 Makerspaces Spotlights ______Artisan’s Asylum is a non-profit community Technocopia is a non-profit makerspace located in fabrication center located in Somerville, MA. which Worcester, MA. The 7,000 sq. ft. facility offers common is currently averaging 280 monthly members and work space, rental bays, and a variety of tools. 160 studios. Offering training classes and workshops which make use of shared work areas including: a complete wood Offering access to necessary metal machining, shop, 3d printer station, electronics bay, classroom, electrical fabrication, welding, woodworking, CNC mill and laser cutter station. sewing & fiber arts, robotics, bicycle building and repair, and screenprinting.

22 Makerspace Programs

Name/Location Description Website

Greater Boston Region Shared fabrication tools and equipment in electronics, robotics, woodworking, jewelry and https://artisansasylum.com/ Artisan Asylum/Somerville metalsmithing, welding, precision machining, rapid prototyping, digital fabrication, fiber arts, screen printing and more

Bolt is a venture capital fund designed to address the unique needs of early-stage startups at the http://bolt.io/ Bolt/Boston intersection of hardware and software. Start ups will have access to Bolts engineering team and cutting-edge prototyping shops in Boston.

Framingham Makerspace houses 3D Printers, electronics a wood shop, and a metal and welding Framingham Makerspace http://framinghammakerspace.org/ shop.

MADE@MassChallenge provides startups with 5,000 square feet of R&D space and access to top of http://masschallenge.org/programs Made at Mass Challenge/Boston the line equipment including 3D printers, materials testing equipment, laser cutters, and more /made

North/South Regions Cap Cod Makers provides for meetups, connecting local makers, hosting classes, group activities, Cape Cod Makers/Barnstable http://capecodmakers.org promoting shared resources and maker spaces.

Extras for Creative Reuse provides reusable and surplus materials to stimulate creative and critical https://creativeground.org/profile/ Extras for Creative Reuse/Lynn learning potential while lowering businesses' expenses and carbon footprints. extras-creative-reuse

Lowell Makes provides a mix of high-tech things like 3D printers and CNC mills, along with more Lowell Makes https://lowellmakes.com traditional workshop spaces including a wood shop and metal shop.

Central/Western Regions Brick is a shared work environment for artists, fabricators, engineers, and designers. The space is Brick Co. Workshop/Holyoke http://brickcoworkshop.com/ home to small businesses as well as individual artists.

Makers’ Mill is a creative space that builds community and fosters new learning opportunities http://brickcoworkshop.com/ Maker's Mill/North Adams around a shared passion for making.

Technocopia 7,000 sq. ft. facility offers common work space, rental bays, and a variety of tools for Technocopia/Worcester http://technocopia.org/ artisans to create and work with. Membership includes access to all shared tools and equipment.

The WorcShop is a creative cowork facility that effectively integrates traditional art with artisanal http://theworcshop.com/ WorcShop/Worcester 23 crafts, progressive design & cutting edge technology. Co-Working Spaces: A Shared Workplace for Startups

24 Co-Working Space

Co-working space model from daily from different business models facilities are meant for an individual or start-up seeking to maintain operational flexibility. Co-working spaces span from daily desk hourly rentals to monthly memberships for the facility. Amenities Offered • Internet • Print/Copy/Fax • Phones • Private Meeting Rooms • Desk Rentals

25 Co-Working Spotlights ______

Cambridge Innovation Center (CIC) has been Groundwork! supports the amazing home to over 3500 companies since 2001, community of talented entrepreneurs in many of whom have started here. Companies New Bedford and surrounding areas, and originally headquartered at CIC have created to create a special space for people, ideas, over $3.9B in publicly disclosed exit value. and collaboration.

26 Co-Working Spaces

Name Description Website Greater Boston Region

Coworking memberships rates begin at $425 per month, and dedicated desks starts at $730 in http://cic.us/membership/ Cambridge Innovation Center the Cambridge location.

Coalition Boston full time membership begins at $250/month and a Private Office is available http://coalitionspace.com/bosto Coalition Boston for $800/month. n/

Geek Offices dedicated is $475/month and a Private Office begins at $600/month. Geek Offices/Cambridge http://geekoffices.com/

Intrepid Labs/Cambridge Intrepid full time membership is $500/month http://labs- dev.intrepid.io/#intro

Space with a Soul full time membership begins at $300/month and a Dedicated Desk is Space with a Soul/Boston available for $796/month. http://spacewithasoul.org/

WeWork membership rates begin at $400+/month shared desks and $440+/month dedicated http://wework.com/boston WeWork/Boston desks

http://boston.workbar.com/offi Workbar membership rates are from $350 month full-time open workspace to upwards of Workbar Union/Somerville ce/workbar-union/ $500+/month for a dedicated desk.

27 Co-Working Spaces (Con’t)

Name Description Website North/South Regions

GroundWork! full time membership begins at $200/month and a Dedicated Desk is available for GroundWork!/New Bedford http://newbedfordcoworking.com/ $250/month.

Launch full time membership begins at $155 per month for an Open Desk, Premium Open Desk http://cummingsexecutivesuites.co Launch/Woburn starts at $190/month and m/launch.htm

Spark full time membership begins at $350/month and a Dedicated Desk is available for http://www.sparkcoworkspace.co Spark/Acton $500/month. m/membership-rates

WorkTable/Marlborough WorkTable full time membership begins at $250/month. http://coworktable.com/

Central/Western Regions

AmherstWorks full time membership begins at $225/month and a Dedicated Desk is available for http://amherstworks.io/ AmherstWorks $425/month.

Cloud85 full time membership begins at $150/month and a dedicated desk is available for http://cloud85northadams.com/ab Cloud85/North Adams $230/month out/

Click Workspace/ Click Workspace full time membership begins at $195/month and a dedicated desk is available for http://clickworkspace.org/member Northhampton $245/month. ship/

Running Start full time membership begins at $200/month and a dedicated desk is available for http://runstartwork.com/plans- Running Start/Worcester 28 $225/month. pricing/ Massachusetts: All the Ingredients you Need

29 Diversity Driving Innovation in MA

30 A Collaborative Ecosystem

Universities Over 114 Colleges and Universities; with over 400,000 students enrolled*** Capital Talent & Workforce $6.92B of technology investments 15,000 + STEM grads in 2014 in MA companies** #1 nationally**** Collaborative Workspaces Leadership R&D 12 Massachusetts companies 13 Leading University/Non-Profit in the Fortune 500 Research Centers in Massachusetts

Innovation Clusters 6,777 Patents filed by Massachusetts Most Concentrated State Companies and Universities in 2015**** Tech Sector in the Nation*

*MassTLC 2015 ”State of Technology” Report **2011-2015 Source: PwC ***National Center for Education Statistics, 2014 31 **** The Index of the Massachusetts Innovation Economy 2015/16, MassTech Collaborative Best State Sponsored Collaborators

Massachusetts has a strong network of industry and civic associations partnering with companies and the state to support innovation and growth

32 Partner with Us

Massachusetts is a world class destination for startups. We want to work with you.

Connect with us:

Timothy J. Connelly Executive Director/CEO, Massachusetts Technology Collaborative [email protected] (617) 371-3999 @Mass_Tech

33 Appendix

34 Robotics

• Massachusetts has 122 commercial companies in the robotics cluster; • Between 2011 and 2015, 33 new robotics businesses were created in Mass., up 57% from five years earlier; • Mass. robotics companies employed 4,716 individuals; • Mass.-based robotics companies received over $190 million in private investments in 2015, equal to 23% of total U.S. funding and second highest of any state, only behind California.

(source: MassTech 2016 Robotics Report)

35 Cybersecurity

• Among U.S. states, Massachusetts has the third-most cybersecurity firms (35) among the top 500, behind California (150) and Virginia (41). (Source: Cybersecurity Ventures Cybersecurity 500)

• In 2015, at least 12,370 employees worked in cybersecurity in Massachusetts (source: MassTech analysis of reporting by Burning Glass)

36 Big Data/Analytics

37 Digital Health

Digital Health leverages industries and capabilities in which Massachusetts excels: • Leaders in US health reform • Top healthcare delivery hub • Dominant Talent Pool and University Networks • Strong startup climate • #1 global life sciences and medical device ecosystem • Competitive investment/VC landscape • Growing tech clusters in software, big data, robotics, cybersecurity, and other areas

38 Life Sciences

• All of the world’s top 10 largest Strong Cluster Network: biopharmaceutical firms maintain facilities here, along with 550 other biopharma companies and more than 400 medical device makers • Life Sciences employs over 95,000 talented workers in Massachusetts • 10-year, $1 billion comprehensive state initiative supporting life sciences innovation (source: MLSC)

39 Talent/Workforce

There are 114 colleges and universities in Massachusetts enrolling over 400,000 students seeking bachelor's or associate degrees (Based on National Center for Education Statistics, 2014). • Massachusetts is #1 in awarding new college degrees per capita, with over 117,000 higher education graduates in 2014, inclusive of community college, four year degrees, and advanced degrees.

• 50 of these colleges and universities Massachusetts is home to the most STEM Degrees in are in the greater Boston the U.S. per million residents. metropolitan area, which is home to (source: NCES) more than 250,000 students.

Massachusetts has the Highest Percentage (46.1%) of Adults in US with a Bachelor’s Degree or Higher. (source: NCES, NSF)

40 R&D

Massachusetts continued to be the top state in terms of R&D as a percentage of GDP in 2012 .

41 Venture Capital

VC Investment by Stage Massachusetts has more Massachusetts, 2005-2014 than 700+ venture capital $2,500,000,000 professionals from 80+ firms and its members collectively $2,000,000,000 manage more than $50 billion in capital* $1,500,000,000

Early stage financing in the state grew by 58% from 2013 $1,000,000,000 and has tripled since 2008, highlighting investors’ interest $500,000,000 in younger start-up firms.**

$- 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Seed Early Stage Expansion Late Stage

42 *NEVCA.org **pwcMoneytree