The Pulse {on the startup nation}: City of Boston
We’re starting a new blog series here at Prototype Capital called The Pulse. Our VC firm has the unique advantage of being comprised of a team originating from 11 cities across 3 countries (so far). So, we’re sharing with you the unique snapshot we have on the pulse of the startup nation movement!
First up: The City of Boston by Jake Deutsch.
What’s unique about your city? Boston is home to some of the Nation’s most prestigious universities and through that, the competition runs fierce. Within the city limits lies Harvard and MIT, world renowned for many of their alumni and some notable dropouts that have gone on to change the way the world consumes and operates. Just outside of the city is Babson College notable for their strong Entrepreneurial Focus. Babson has been ranked as the premiere school for entrepreneurship in the last 21 years due largely to the all-encompassing curriculum revolving around starting your own business. One offshoot company that sprang out of Babson is DetraPel founded by current sophomore, David Zamarin. DetraPel was recently featured on Shark Tank where they received a $200,000 investment.
What’s the general sense / feel of the startup and venture scene in your city? With the large number of brilliant young minds throughout the area, Boston has become a hotspot for VCs looking to make their next investment. Some places you’ll find Bostonites working on the next big thing are Babson’s Blank Center for Entrepreneurship, The Harvard Innovation Lab and COGO Labs. The streets of the greater Boston area are filled with intelligent and driven individuals with conversations around startups on every corner.
There are a number of events where you can get in front of VCs. One of the largest events is MassChallenge, a business accelerator competition that has 1700 teams apply, 128 of which are selected to join the program with 6 teams receiving a grand prize of $100,000 in addition to the opportunity to work closely with leading VCs from the accelerator.
Which VC firms / VCs are prolific in your city and what are they investing in? While many companies devised by students in Boston move out to the Valley, there are still plenty of investors based locally that have 9+ figure funds. Just to name few; Bain Capital Ventures, Fidelity Ventures, Spark Capital, and Polaris Partners.
Boston’s primary industry focus centers around robotics and biotech. The robotics industry is led by Boston Dynamics along with the countless other startups that are competing to revolutionise how devices function through the implementation of Artificial Intelligence and machine learning.
The Biotech scene in the Boston area is focused on pharmaceuticals led by powerhouses the likes of Pfizer and Sanofi, which have research centers in the area. Some local biotech startups include Boston Biomedical and Gingko Bioworks.
There’s no indication of Boston losing grip of its worldwide influence anytime soon. Boston offers a unique environment where intelligence and innovation thrive. This New England city has been making history since the birth of America and there’s no stopping this city’s founders from continuing the legacy in the startup nation.
Jake Deutsch is a Venture Scout at Prototype Capital. Have a startup that’s working on a game changing idea? Or from Boston? You can reach out to him at jakedeutsch@gadsden-inc.com.
