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North
Shore biotech incubator launches
The long-planned Biotech InnoVenture Center is launching in Beverly, Mass. with a $50,000 grant from the Massachusetts Life Sciences Center and matching funds from private sources.
The new facility, which will provide incubator space for early-stage life sciences companies, has been homeless since it began advising young start ups two years ago. But now six start-up companies are requesting space from the incubator.
The six early stage companies will create 12-18 new jobs and they expect to double that number over the next year, according to a release from the Massachusetts Life Sciences Center. In March the incubator will move into 4,500 sq/ft of newly built-out space, donated by in the Cummings Center.
“Early-stage life sciences companies are a source for both job creation
and the next generation of medical technologies,” said Governor Deval
Patrick, in a statement. “Our largest life sciences employers were
once early-stage companies like those that will occupy this space in Beverly,
looking to grow and bring their technologies to market. This investment
from the Life Sciences Center will strengthen the economy on the North
Shore, and create the infrastructure needed for future growth.”
North Shore InnoVentures is a non-profit that also runs the Cleantech InnoVenture Center in Lynn, Mass.
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