New England Economic Development and Impact of Innovation Centers

This document summarizes the challenges facing New England's innovation economy and proposes innovation centers as a solution. It finds that while entrepreneurship and networking once drove New England's growth, the region is now falling behind Silicon Valley in venture capital investment. However, New England has strengths in university research and talent that innovation centers could leverage by concentrating entrepreneurs near universities, offering startup support, and creating opportunities for collaboration. The Cambridge Innovation Center is presented as a successful model, having helped launch over 350 companies from its location next to MIT through a flexible, non-subsidized model that attracts top entrepreneurs.