CriticalMass, a Boston area co-working space powered by the New England Venture Capital Association, launched today at the Cambridge Innovation Center. CriticalMass is the only dedicated workspace designed exclusively for promising start-ups which has the full backing and support of the regional venture trade group and a syndicate of some of New Englands most well-respected venture capital firms, including Bain Capital Ventures, Charles River Ventures, Flybridge Capital Partners, Highland Capital Partners, and North Bridge Venture Partners.
While co-working spaces like this have become more commonplace in New England, said James Nahirny, current chairman, New England Venture Capital Association, and managing director, Bain Capital Ventures, none to date have had the active participation and support of the regional venture trade association, as well as from a group of sponsoring firms, that collectively have 88 investors based in Massachusetts, a network of more than 130 portfolio companies in New England, and nearly $ 10 billion in capital under management. Our shared goal is to make CriticalMass a premiere address of promising startups in the region, and the country.
CriticalMass will provide early stage entrepreneurs with a place to work, learn, collaborate and start new companies. However, CriticalMass will go beyond a typical co-working space because it will bring together a broad cross-section of the Boston area start-up community experienced technology leaders, first time entrepreneurs and investors-- to drive new company creation without an expectation that all the related startup activity needs to be or will be venture-backed.
CriticalMass is one of a series of new initiatives by the New England Venture Capital Association to more actively support and engage entrepreneurs in the region, said Jamie Goldstein of North Bridge Venture Partners and the Associations president. The Association is a platform for more than 80 member firms to advance our collective interest in helping the regions best ideas and brightest entrepreneurs thrive right here in the Northeast.
New England Venture Capital Association members, staff and the venture firm sponsors will spend time at CriticalMass, providing regular programming, as well as informal interaction with and mentoring of entrepreneurs in the space. Each premier sponsoring firm will own a huddle, a conference room space branded by them, open to all, but serving as a location for that firm to regularly meet and interact with entrepreneurs. All Association member firms are encouraged to participate in CriticalMass and should contact Nancy Saucier at saucier (at) openapurpledoor (dot) com or 617-595-8760 for more information about how to get involved.
CriticalMass adds to an increasingly vibrant set of entrepreneur support efforts in New England, said Nancy Saucier, executive director of the New England Venture Capital Association. We look forward to doing our part to nurture and think creatively about building the regions start-up success.
Any entrepreneur is welcome to utilize CriticalMass facilities at the Cambridge Innovation Center for $ 250 per month. Venture sponsors will have the opportunity to defray CriticalMass fees for at least 48 entrepreneurs per year.
Entrepreneurs considering locating at CriticalMass can contact Anna Whitlock at Whitlock(at)cictr(dot)com or 617-758-4200 for more information and a tour.
Press should contact Laura Beck for opportunities to talk with New England Venture Capital Association or the involved venture partners, and details about an upcoming March 31st launch event.
About New England Venture Capital Association
Established and run by venture capital investors in the area, New England Venture Capital Association is the region's premier organization to promote venture capital investing and entrepreneurship in New England. With more than 700 venture capital professionals from more than 80 firms, our members collectively manage more than $ 50 billion in capital.
In addition to CriticalMass, NEVCA hosts a VC Unplugged informational Q&A session and one-on-one Office Hours every other week at the Venture Caf
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