MassCEC Announces $305,000 for Clean Energy Business Incubators
BOSTON – September 17, 2014 – Massachusetts Clean Energy Center (MassCEC) CEO Alicia Barton today announced $305,000 in grant awards to assist four Massachusetts small business incubators help grow and support the next generation of clean energy businesses across the Commonwealth.
The grants, funded as part of MassCEC’s IncubateMass program, will help to fund the day-to-day operations of these incubators, which provide early-stage clean energy companies with affordable office space, targeted business support services and resources that include mentorship, specialized equipment, professional services like human resources or legal assistance, educational series and/or information technology networks and hardware.
“By assisting the facilities that house and nurture budding clean energy companies, we can help ensure that the clean energy sector in Massachusetts continues to grow for years to come,” said Energy and Environmental Affairs Secretary Maeve Vallely Bartlett, who chairs MassCEC’s Board of Directors. “Clean energy startups are showing up across the Commonwealth and this funding will ensure they have access to the space, mentoring and support they need to thrive.”
MassCEC’s funding will leverage an additional $230,000 in matching funds.
“Supporting these incubators and the early-stage companies they serve will help drive the development of promising new technologies from the laboratory to the global marketplace,” said Barton.
From 2012 to 2013, clean energy jobs rose by 11.8 percent. There are 5,550 clean energy companies in Massachusetts that employ 80,000 workers. More than 70 percent of the state’s clean energy companies are small businesses, employing 10 or fewer workers according to the 2013 Massachusetts Clean Energy Industry Report produced by BW Research.
Programs receiving funding under the program are:
· Greentown Labs (Somerville) - $110,000 – Greentown Labs, one of the largest cleantech incubators in the country, hosts 46 cleantech organizations with about 170 employees.
· Institute for Environmental Sustainability (Worcester) - $125,000 – MassCEC funding will help the Institute for Environmental Sustainability (IES), which has run a virtual incubator network designed to support early stage ventures to establish a physical incubator space in downtown Worcester in coordination with the Worcester Business Development Corporation.
· North Shore InnoVentures (Beverly) - $60,000 – North Shore InnoVentures (NSIV) hosts six cleantech startups in its Beverly office and laboratory space, plus an additional cleantech member startup which has access to mentoring and other services. The seven cleantech startups employ 34 workers plus four interns.
· Advanced Technology Manufacturing Center (Fall River) - $10,000 – The Advanced Technology Manufacturing Center (ATMC) at the University of Massachusetts-Dartmouth hosts two early-stage clean energy startups, employing four workers.
“When we support incubators like Greentown Labs, we’re investing in 21st century industries that are the foundation of the new global economy and will create local jobs,” said Somerville Mayor Joseph A. Curtatone. “We’re also investing in the research and development that will help us beat back the threat of climate change. I am grateful that MassCEC has once again demonstrated its commitment to securing the future of both our local economy and our environment.”
“IES is one of the organizations that is going to continue to pay dividends for Worcester and the region as they continue to push sustainability and grow our local talent,” said Worcester Mayor Joseph Petty. “Incubator space, like the one this grant will fund, will allow young companies to get a foothold here in Worcester, and allow them the space and time to accomplish their goals.”