Background Information
The John Adams Innovation Institute
The John Adams Innovation Institute is the economic development division of the Massachusetts Technology Collaborative.
The overarching goals of the Innovation Institute are directed at projects and programs that:
- Improve Massachusetts’ competitive edge in the Innovation Economy region by region, sector by sector
- Foster new job creation and job retention in knowledge- and technology-based companies
- Strengthen industry clusters, identifying needed actions and resources through collaboration with stakeholders and policymakers
- Support rigorous collaborative research and development partnerships at Massachusetts’ universities as new ideas and technologies emerge, enhancing the success of Massachusetts academic research centers to compete for federal research awards
- Secure the economic benefits of downstream production and employment as new research and technologies are commercialized in the marketplace
- Embrace fact-based understanding and analysis to shape the growth strategies for the Massachusetts Innovation Economy
The Institute employs numerous strategies and tools to grow the Commonwealth’s Innovation Economy. They include:
- Cross-sector and cross-cluster collaboration
- Strategic investments
- Research and analysis
- Convening policymakers and stakeholders
- Cutting-edge initiatives
The Innovation Institute serves as the convergence point in creating productive, collaborative partnerships between Massachusetts companies and academic research institutions to compete for business, talent and opportunities in the global marketplace.
The Institute is responsible for management of two public investment funds created through the 2003 Act to Promote Jobs, Economic Stability and Competitiveness in Massachusetts.
Its two major funds are:
- The Regional Fund: supports regional initiatives that spur technology-based economic development across the Commonwealth ($15 million)
- Massachusetts Research Center Matching Fund: supports activities at universities and non-profit research institutions to increase the likelihood of securing additional federal funding for R&D and expand the economic benefit to the Commonwealth ($20 million)