Manufacturing Innovation Grants From MassDevelopment Connect Manufacturers With Affordable Business Growth Resources
February 23, 2015
FOR IMMEDIATE RELEASE
Emily Dahl, MassDevelopment, 617-330-2086 & 978-394-3506 (cell)
MassDevelopment has launched the Manufacturing Innovation Grants program to connect Massachusetts manufacturers with four Innovation Centers—Algonquin Industries, Inc.; Boston Engineering Corporation; Connecticut Center for Advanced Technology, Inc. (CCAT); and Worcester Polytechnic Institute (WPI)—that will provide discounted services and expertise to help small- to medium-sized manufacturers grow their businesses.
The program is open to Massachusetts manufacturers with 100 or fewer employees in need of expertise and equipment to support product development, prototyping, scaling up, cost reduction, and other assistance.
“Massachusetts has all the right elements for a strong manufacturing sector: innovative new and established companies, a supportive public-private coalition of industry champions, and higher education institutions that are preparing the future workforce,” said Marty Jones, MassDevelopment President and CEO. “The Manufacturing Innovation Grants program links these elements, connecting growing companies with Innovation Centers to provide affordable access to expertise and equipment—which in turn strengthens the Massachusetts manufacturing sector as a whole.”
The Manufacturing Innovation Grants program works as follows:
- MassDevelopment will pay the lesser of 75 percent or $75,000 of the cost of a contract between a manufacturing company and the Innovation Center of its choice.
- Companies will pay the remaining costs.
- Companies will contract directly with their chosen Innovation Center.
The four Innovation Centers have been chosen for their technical expertise and experience working with manufacturing companies.
“Algonquin Industries believes that the conceptual vision of an innovator should not be compromised due to the concern for manufacturability, which is why we are excited to partner with growing manufacturing companies as a Manufacturing Innovation Center,” said Edward J. Freitas, Vice President Sales and Marketing at Algonquin Industries. “Algonquin will leverage its broad base of capabilities, design and manufacturing teams, and resources network to assist small- to mid-sized manufacturers, to help them turn their vision into a commercially viable reality.”
“We are proud to be one of a handful of companies that MassDevelopment has selected as a Manufacturing Innovation Center,” said Mark Smithers, Co-founder and Chief Technology Officer of Boston Engineering. “For two decades Boston Engineering has been helping companies transform great ideas into successful products, and we look forward to serving as a trusted partner to Massachusetts start-ups who are preparing for their critical product launches.”
“We are pleased with the opportunity to be a part of MassDevelopment’s Innovation Center Program designed to aid small manufacturing companies,” said Elliot Ginsberg, President and CEO, Connecticut Center of Advanced Technology, Inc. (CCAT). “As a regional and national resource, CCAT’s Advanced Manufacturing Center offers companies support with our team of technology professionals and access to the latest equipment for metal additive manufacturing, multi-material 3D printing, and precision machining. We look forward to partnering with MassDevelopment to bolster manufacturing innovation and growth through this exciting new program.”
“For the past 150 years, Worcester Polytechnic Institute (WPI) has been a key player in the economic development in Massachusetts,” said Bogdan M. Vernescu, Vice Provost for Research, ad interim. “The MassDevelopment Grant program recognizes our past contributions and strength in manufacturing and helps us reaffirm and facilitate our commitment to use our expertise for the support and development of the manufacturing sector in Massachusetts. We are proud to be part of this public-private coalition to support the translation of exciting ideas and research into advanced products.”
Learn more about the Manufacturing Innovation Grants program on MassDevelopment’s website.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2014, MassDevelopment financed or managed 314 projects generating investment of more than $2.9 billion in the Massachusetts economy. These projects are projected to create more than 6,300 jobs and build or rehabilitate more than 1,600 residential units.
Manufacturing Innovation Center Contacts: