GOVERNOR PATRICK AND HIS CABINET MEET WITH START-UP BUSINESSES AT UMASS BOSTON'S VENTURE DEVELOPMENT CENTER
Visit highlights innovative companies housed at specialized UMass facility
BOSTON - Friday, April 8, 2011 - Governor Deval Patrick today joined members of his cabinet, university officials, and faculty members to tour UMass Boston's Venture Development Center, a specialized incubator that allows UMass to collaborate with businesses and research institutions on the development of new technologies and commercial products.
"This state-of-the-art center provides a home for some of our most promising emerging technology and life sciences companies," said Governor Patrick. "I am proud of UMass Boston for leading the way in bringing faculty, entrepreneurs and businesses together to develop the products and technologies of the future."
Opened in May of 2009, the Venture Development Center has turned an 18,000-square-foot former cafeteria into Boston's newest plug-and-play office and state-of-the-art laboratory facility for emerging technology and life sciences companies. Today, the center is fully occupied and is home to 16 promising technology companies and research enterprises, three of which are minority owned. Included amongst its occupants are a $50,000 MassChallenge award winner, another MassChallenge finalist and a Massachusetts Life Sciences Center Accelerator loan awardee.
"By linking our research universities with entrepreneurs through the creation of the Venture Development Center, UMass Boston is capitalizing on the Commonwealth's strengths - innovation and collaboration," said Secretary of Housing and Economic Development Greg Bialecki. "They are the means by which we will continue to create jobs and lead the global knowledge-based economy."
"The Commonwealth of Massachusetts is a leader in education and innovation thanks to the leadership of the Patrick-Murray Administration," said Secretary of Education Paul Reville. "The UMass-Boston Venture Development Center is an excellent example of the education-business partnerships that are fundamental to our success."
"We are pleased to host Governor Patrick and his cabinet, and we value the attention he is bringing to this very important economic sector," said UMass Boston Chancellor J. Keith Motley. "We look forward to continuing to support and grow the entrepreneurial economy."
The Venture Development Center also supports UMass Boston's new Entrepreneurship Center, where students learn the skills they need to start their own businesses through paid internships with the state's leading venture-backed startups.
Learn more about the Venture Development Center: http://www.umb.edu/vdc/