The center is already home to Magniture Systems, which developed a technology to reduce building energy use. Several other companies are completing applications and expect to become incubator tenants in 30-60 days, according to Eric Graham, chief executive officer of the CIVC.
"There's a growing cluster of green-tech businesses that need space to bring their technologies from the development stage to market and we can help them do that," Graham said Monday. "The Cleantech InnoVenture Center isn't static. It's a dynamic enterprise that facilitates connections to funding, offers mentoring, as well as access to other services that will help the green-tech startups create jobs and grow."
According to Graham, a Hamilton resident, the incubator will eventually be home to 5-10 clean-tech businesses.
The Fraunhofer Center for Sustainable Energy Systems in Cambridge has emerged as one of the most significant technical collaborators with the CIVC venture.
Nolan Browne, managing director of the Cambridge enterprise, described the Lynn incubator as a perfect fit for their business model. "We have some of the world's leading scientists conducting research and development on technologies that ultimately will need the type of space and services CIVC provides." he said, adding that the Lynn center gives its companies access to the growing industry network of green-tech specialists and service providers - a benefit hard to find elsewhere.
Paul Gregory of Marblehead, chief executive officer of Magniture Systems, was attracted to the Lynn center because it houses a ready-made network of like-minded individuals. "There's a sense in the clean-tech world that we're all part of something bigger - a movement so to speak - to find solutions to our energy and climate problems," said Gregory. "The industry is more collaborative than competitive. CIVC has already helped me make important connections I might not otherwise have had."
Graham said the incubator received a shipment of furniture donated by the Harvard Business School and the British Consulate in Cambridge. Another tenant, developing solar technology, is expected to move in shortly, he said.
"That's why our access to the roof is so important," he said. "They'll want to test their panels in real weather conditions."
Initial funding for the Lynn incubator came from the state, spearheaded by Rep. Steven M. Walsh of Lynn. "Economic investment in Lynn is vital to helping us grow our tax base and bring in the funds needed to help make our community vibrant," said Walsh. "The key here is that we are also investing in our energy and environmental future - so this funding will make positive waves for a long time to come."
Lynn Mayor Edward J. Clancy Jr. said the city has plenty of room for businesses to expand, adding that the incubator's close proximity to Boston and Cambridge helps growing companies retain their ties to the scientific and educational institutions located in those communities. "The opening of the Cleantech InnoVenture Center also demonstrates that positive economic development and job growth can happen when city and state officials work closely with the private sector," Clancy said.
Cowdell said the EDIC supports the venture because as the tenants grow their small companies, the local economy will benefit through jobs. "Eric has a strong partnership with MIT and the J.B. Blood building is set up to be an incubator, which is exactly what these people need," he said, recalling the many innovations in view during a recent walk-through of the facility. "They love the building. It's centrally located, close to the T and close to Boston. It's good stuff and it certainly has never been done before in Lynn. We rolled out the red carpet for them."
The Cleantech InnoVenture Center in Lynn is the first of the Beverly-based North Shore InnoVentures technology business incubators to open its doors. The other, the Biotech InnoVenture Center, is slated to open at the Cummings Center in Beverly within the next few months.
North Shore InnoVentures is a non-profit, public/private partnership that nurtures early-stage companies, hoping ultimately to grow the regional economy. Many of its board members are also affiliated with the North Shore Technology Council, a founding sponsor.
Martha Farmer, president of North Shore InnoVentures, said companies are assisted until they "graduate" from the program and become part of the region's "vibrant technology clusters."
For more information, go online to www.nsiv.org. |
