North Shore InnoVentures Expands Capabilities for Incubating Life Science and
Incubator to Celebrate its Opening with a Ribbon Cutting of New Office and Lab Space in Beverly
Beverly, MA, July 27, 2017 – North Shore InnoVentures (NSIV) is today cutting the ribbon on a new location at Cummings Center in Beverly that promises an even greater impact on the area’s growing cluster of life science and cleantech companies. The new space includes not just biology, chemistry and electronics labs but a maker space as well, and is much larger than the previous location. Prior to opening the new location NISV had been scattered across six lab and office suites in the Cummings Center, a result of its organic growth. The new facilities are a testament to that growth and to what the organization has accomplished in the last six years.
Thanks to NSIV’s unique combination of business mentorship and well-equipped incubation space, it has already helped 50 businesses grow since 2009, with 26 putting down roots on the North Shore. The expansion was funded in part through a $5 million grant from the Mass Life Sciences Center made to the North Shore Life Sciences Consortium. The grant allowed consortium members, including NSIV, Endicott College, Gordon College, North Shore Community College and Salem State University, to upgrade equipment and facilities. NSIV’s current expansion is the last investment of this multi-year, multi-organization grant.
“This exciting new space will provide more room for member companies to grow, to collaborate, to develop their brilliant science and build the new companies they envision,” said Martha Farmer, CEO of NSIV. “Startups come here with great ideas – we select for great ideas – but when they leave here they are so much further along! An entrepreneur graduates with a stronger team, with stronger science, with a top-notch advisory board, often with products on the market. They leave here with investible businesses, poised for their next phase of growth. The new space is energizing and we can’t wait to see how our members will use it to build their companies.”
Wet and Dry Labs for Research, Analysis, Prototyping and Building
The 13,000 s.f. facility includes a combination of office and meeting spaces, wet and dry labs and a maker space. The wet labs are equipped for both chemistry and biotech (BL-2) research. The labs feature state-of-the-art instruments for genomics, cell biology research and chemical analytics, including a microscopy suite, flow cytometer, two mass spectrometers, and a gene sequencer. The dry lab and maker space have analytical electronics instrumentation and a 3-D printer for rapid prototyping as well as a variety of machine shop tools. The office space allows a company to grow within the incubator, moving from co-working stations into offices that can hold up to six people.
“It’s exciting to see that MLSC’s investment in building the biotech industry has had such positive results outside of Boston-Cambridge,” said Travis McCready, President and CEO of the Mass Life Sciences Center. “North Shore InnoVentures has led the way in helping the North Shore become one of the fastest growing biotech regions in the Commonwealth. Their emphasis on great science married to solid business principals and commitment to the community consistently spins off strong Massachusetts-centric biopharma start-ups.”
“MassCEC is proud to be a long-time supporter of North Shore InnoVentures and we are looking forward to continuing this partnership in this first-class facility,” said MassCEC CEO Stephen Pike. “This expansion project will help attract even more cleantech and water companies to the North Shore region as NSIV provides exceptional mentoring, lab space and other critical resources that will help these companies grow and create quality jobs right here in Massachusetts.”
The flexible new community space can be utilized for a wide variety of meetings, workshops and events and is a daily gathering place for coffee, mentor meetings and casual social collisions.
“Part of supporting the economic growth of the North Shore is bringing the community together. Our members benefit from the people they meet here. Deals get made, team members get hired, and mentor relationships are formed. Successful companies help spread the word that the North Shore is a place to do good science and locate a company,” said Farmer. “The physical resources we provide contribute to the success stories, of course, but even more important are the human resources we’ve gathered. Our sponsors and mentors give countless hours and make invaluable introductions. We’re looking forward to hosting events where more of those connections will be made. I can’t thank our sponsors and volunteers enough for their involvement and belief in our mission.”
In addition to the many sponsors who underwrite NSIV’s operation and mission, a whole host of project partners specifically contributed to making this space possible through in-kind support for this project, including Cummings Properties, Olson Lewis Architects, Osram, Millipore Sigma, Saint-Gobain, Prevare, OCI, Goddard, Forbo, Xylem, TechSandbox and Beverly Bank.
Strong Mentorship Builds Business as well as Technology
NSIV has approximately 50 individual mentors who provide a depth of experience from executive-level strategy and coaching to marketing, product launch, and technical expertise. The volunteer mentors work with NSIV members throughout their stay in the incubator; many continue their involvement after the company has graduated, often on their advisory boards.