49 / 72
/49/
Massachusetts not only raises finances to launch companies, but also offers resources
crucial to their development. Massachusetts houses over 40 industry and university
accelerators that enable promising start-ups to flourish. Once these companies tap
their potential, exit options abound, with multiple IPOs and M&A transactions over the
past five years.
Energy and Clean Technology
Massachusetts’ cleantech industry is the latest sector to experience rapid growth.
The state boasts an array of energy efficiency and renewable generation companies
in addition to innovators in water, transportation, and other sectors. In 2014,
Massachusetts had the nation’s highest per capita early-stage cleantech investment,
beating second-place California by 149%. That year saw 41 cleantech companies
complete 52 deals totaling US$550 million. A flurry of growth equity and early-stage
agreements made up 56.6% of total capital invested.
Although 2014’s US$550 million invested is down from 2013’s record-setting
US$859 million, cleantech jobs grew at an 11.9% clip to almost 99,000 statewide.
This upward trajectory will continue as renewable generation expands. Last year’s
solar installations totaled an estimated 350 MW, with the state expected to match
that in 2016. Several companies also plan to deploy offshore wind in the near future.
Why Massachusetts?
These industry snapshots display how Massachusetts’ businesses are pivotal to the
21st century’s innovation economy. Massachusetts assumed this mantle because
the state offers a unique environment where entrepreneurs, employees, and investors
come to thrive. Specific synergies between commonwealth and Israeli interests
promise to spur fruitful business relationships.
Source: MassCEC
Source: MassCEC