Entrepreneurs, start your engines

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Proposals are expected from partnerships representing economic development agencies, industry associations, educational institutions, municipal governments and other not-for-profit organizations that meet eligibility criteria.

The funding for the state investment program was provided by the Legislature in Economic Stimulus legislation, with the goal of growing and strengthening industry clusters in regions throughout Massachusetts.

While for-profit businesses are not eligible to receive the grants, the commitment and participation of industry is required and will need to be an essential component of every successful project.

Dan O’Connell, Massachusetts Secretary of Housing and Economic Development, offered a strong endorsement for the new investment program, saying that it was right in line with the economic priorities of the Patrick Administration. “This program is about advancing opportunities here in Massachusetts. The outcomes sought are measurable job growth, new business formation, and increased economic activity, including collaborations by and among companies.”

O’Connell said that he very much liked the focus of the investment awards. “It’s not about the money; it’s about outcomes,” he said. “The Innovation Institute is asking that applicants demonstrate a mature understanding of emerging market opportunities, and the barriers and constraints that may inhibit growth in a region or industry cluster,” he said.

Opportunities for Q&A at the Massachusetts Technology Collaborative’s campus in Westborough will be held on April 27th from 10:00 am - noon in the Karl Weiss Conference Center. If you are interested in attending this session, please RSVP by clicking here and providing your name, organization, email, and phone number.

More information is available on the Project Award Program here.

“Our focus is on opportunities to achieve growth and strengthen industry clusters in the Commonwealth’s knowledge-based economy,” said Pat Larkin, Director of the John Adams Innovation Institute. “We are asking applicants to describe the unmet need—or the ‘but for’ condition to achieve success that will be met—with the awards.”

Larkin said that the Innovation Institute will use the following criteria when scrutinizing applications:

Bill Ennen of the Innovation Institute, explained the rationale of the new investment program. “We believe that a focus on sectors and clusters is a compelling advantage in growing the Massachusetts Innovation economy,” he said. “Our approach to this investment activity is informed by focusing on a specific sector or cluster in order to foster growth – and understanding and identifying the economic conditions necessary for that growth.”

For more information, contact: Christopher Scranton, 508 870 0312, ext. 1276, scranton@masstech.org.

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“It's not about the money; it's about the outcomes.”