It's not just happening in the Hub. The biotech industry is centered in Massachusetts, and beyond Cambridge and Boston, the North Shore supports a strong life sciences cluster that offers rich technical and business resources to help life science and cleantech startups thrive, thanks in large part to North Shore InnoVentures (NSIV), a technology business incubator located in the Cummings Center in Beverly, MA. There are over 50 life sciences businesses located at the Cummings Center alone. In a recent local access television interview, Martha Farmer, President & CEO at NSIV, and Trish Fleming, Director of Mentoring, describe technology business incubation and the value of strong community support that assist early-stage companies in becoming profitable businesses.
In describing a technology incubator, Dr. Farmer aptly uses the analogy of a neo-natal incubator, stating "At the NICU at a hospital, you've got these babies in these little plastic tents, but that's not an incubator. The incubator is that and all of the nurses and doctors and instrumentation and support that helps make that child thrive. And that's what an incubator does". NSIV provides access to space, mentors, service providers, attorneys, accountants, PR assistance and other resources needed by entrepreneurs. Ms. Fleming points to another important feature of an incubator, that "you're given time to develop, time to grow", which is particularly important for a time, labor, capital and science intensive cleantech or biotech startup, unlike a shorter-term accelerator program would provide. "We are focused on building the entire entrepreneur".
Why the North Shore? Think quality of life. Beverly was recently named one of the 100 best cities to live in the US. Beyond its coastal beauty, Beverly offers a wealth of resources - space, good schools, a well-trained workforce, and mature companies to mentor startups!
