2.4 Support growth to scale (four action items)
2.4.1 Increase by 20% annually over the next five years state funding of capital, mentoring and advice, including shared facilities for the making and testing of product prototypes, to support the growth of small and mid-sized businesses, building on the examples of the Massachusetts Growth Capital Corporation and the Treasurer’s Small Business Banking Partnership.
Contact: Eric Nakajima
- In February, the Massachusetts Life Sciences Center invested $5 million to establish LabCentral in Kendall Square. This new hub is designed to facilitate the creation of startup biotech companies and is scheduled to open in November 2013. LabCentral will become a home to 50 to 60 high-potential entrepreneurs and biotech startups. LabCentral will provide fully equipped laboratory and office space, facility and administrative support, 24/7 access to skilled laboratory personnel, and other critical services and support that start-ups need to transition from a science/technology-focus to a successful commercial-stage enterprise.
- $250,000 appropriation to Small Business Association of New England (SBANE) for Manufacturing Matching Grant Program.
- $450,000 match for technical assistance – Mass Growth Capital’s “Tools to Grow” program – piloted in Springfield.
2.4.2 Increase the participation of our small and mid-sized businesses in the supply chain of our major corporate operations, building on the example of the “BuyHere” initiative of the Associated Industries of Massachusetts
Contact: Eric Nakajima
One of the main goals of the Advanced Manufacturing Summit, held on June 20th, was to improve supply-chain opportunities for small companies by connecting them to large manufacturing companies during panel presentations and networking sessions. These panels focused on particular industry sectors of strength in the Commonwealth, including aeronautics, defense, electronics, life sciences and industrial manufacturing.
- SBANE sponsored defense industry supply chain event with Mass Development.
- Raytheon sponsored Council on Competitiveness Forum focused on improving innovation in supply chain.
2.4.3 Raise the profile of advanced manufacturing as an integral part of our innovation economy by encouraging young people to enter the sector and by facilitating the adoption of local innovations into our small and mid-sized manufacturing businesses
Contact: Eric Nakajima
- The Commonwealth, through the Advanced Manufacturing Collaborative (AMC), hosted the first statewide Advanced Manufacturing Summit at Gillette Stadium in Foxborough on June 20th. This summit brought together more than 400 leaders from the manufacturing industry, academia and government to share best practices, network, discuss future opportunities and challenges and highlight the progress made on a variety of initiatives of the AMC. The AMC has developed a five-point agenda working with manufacturers, educators, academics and all of the state’s relevant departments and quasi-public organizations. The agenda is focused on: 1) Promoting Manufacturing, Workforce and Education; 2) Manufacturing Innovation; 3) Energy Management and Sustainability; and 4) Access to Capital Resources. Each priority has a working group that is led by manufacturers and paired with a public sector partner. Participating state agencies include Commonwealth Corporation, the Massachusetts Technology Collaborative, Massachusetts Clean Energy Center, Massachusetts Life Sciences Center, Massachusetts Growth Capital Corporation, MassDevelopment and the Executive Office of Education (EOE) and the Executive Office of Labor and Workforce Development (EOLWD). The AMC is developing and implementing solutions across all five working groups.
- At the Summit, Governor Deval Patrick announced the launch of the Advanced Manufacturing Regional Partnership Academy, a first-in-the-nation effort to improve the effectiveness of regional manufacturing sector strategies by providing hands-on education, tools, actionable data, and opportunities to engage in peer-learning to regional leaders. It will bring together manufacturers, workforce investment boards, academia and other key stakeholders to help regions develop sustainable and effective training partnerships that respond to current and evolving industry needs. The University of Massachusetts Dartmouth is leading a multi-campus team of experts to support the Academy.
- Massachusetts manufacturing industry featured on the Today show.
- Launched Advanced Manufacturing Collaborative and Industry Report.
- Launched “AMP It Up” – career promotional campaign at Mass Development.
- 15 regional partners applied to participate in campaign.
- The Massachusetts Manufacturing Extension Partnership (MassMEP) is launching a partnership with the UMass Amherst Innovation Institute to provide integrated services linking manufacturers to business services from MEP and UMass research centers.
2.4.4 Make a systematic effort to work with growing Massachusetts companies to locate their call centers, other sales/marketing/customer service offices and other administrative offices within the state.
Contact: Michael Hunter
- Massachusetts Office of Business Development incorporates business expansion discussion on all company visits to determine opportunity – of the 130 meetings, 13 businesses identified for further discussion.
- MOBD acts as central point for economic agencies targeting business expansion and tracks data.
- CEO and additional influencer target list developed for calendar 2013 outreach.
People also viewed...
You recently viewed...
Personalization is OFF. Your personal browsing history at Mass.gov is not visible because your personalization is turned off. To view your history, turn your personalization on.
Learn more on our .
*Recommendations are based on site visitor traffic patterns and are not endorsements of that content.