- Build a list of incubators/accelerators in and around the Greater Boston and Cambridge areas in order to build a presentation regarding the opportunity for a healthcare incubator in Boston. Incubators/accelerators can be from any industry and will include co-working spaces, universities, independent, local, national, or international organizations.
- After locating accelerators/incubators in and around the Greater Boston/Cambridge areas, an analysis of the successes and failures of the healthcare-focused ones will be carried out to further prove the opportunity for a healthcare incubator in Boston.
- For each incubator/accelerator located, their name, industry, value proposition, member footprint, and office location(s), and success metrics/money raised will be provided, as available.
- A startup accelerator/incubator is a sort of company or organization that provides assistance to startups in the form of mentorship, advice, resources, and funding in order to help their business succeed. The difference between the two is that accelerators don't typically provide help with office space for startups, while incubators do.
- Techstars is a global accelerator with a location in Boston since 2009. Their program includes a 3-month long mentorship, networking opportunities with investors, and more. They receive 6% equity from the startups they support, but also provide up to $20,000 for living expenses and a $100,000 convertible note.
- LearnLaunch offers two separate accelerator programs in Boston — LearnLaunch Boost and LearnLaunch Breakthrough. The former is a 3-month mentorship and includes capital investments and 6 months rent for office space, as well as $20,000 in credit and a $50,000 convertible note. LearnLaunch Breakthrough is specifically focused on established edtech companies, takes 2-4% equity, and assists startups by offering workshops, partnerships, and up to $120,000 in convertible notes.
- Harvard i-lab is an incubator/accelerator based out of Harvard Univerisity's entrepreneurship center for students; they offer Innovation Lab workshops, events, etc. for student startups throughout the semester. Startups with a minimum of one current Harvard student as a founder can participate in the accelerators "Venture Incubation Program (VIP)" where they will receive workspace, mentoring, and industry-specific support.
- MassChallenge HealthTech is an accelerator in Boston for digital health startups. They provide lab/office space, a mentorship program, and workshops designed by hospitals and corporate partners. They do not take any equity or charge any additional fees.
- Philips HealthWorks is an accelerator that provides a 90-day program for HealthTech startups, which includes access to Philips executives, coaches, and healthcare experts. The program does not take any equity or fees, but they also do not provide any capital.
- German Accelerator Life Sciences is an international accelerator in Cambridge, MA that provides assistance for emerging German life sciences companies, which includes but is not limited to digital health, medical devices, and platform tech startups. They offer a program that ranges from 3-12 months for startups that are already bring in revenue and can provide a 1,000 Euro deposit.
PROPOSED NEXT STEPS
- There appear to be a large amount of incubators and accelerators in the Greater Boston/Cambridge areas. Because of this, we recommend specifying additional attributes of the types of incubators/accelerators that are of interest, so as to provide more relevant options in the upcoming list (especially for the interest with healthcare opportunities). Please address the following clarification questions in order to narrow down the search process, and confirm the scope below, thanks!
- After addressing the clarifications below, we recommend locating a list of between 10-20 startups in the Greater Boston/Cambridge area, perhaps with a focus on the healthcare industry (6 hours, $174).
- We also recommend submitting a follow-up project to analyze the successes/failures of the healthcare accelerators/incubators provided in the list that would address why the incubators are/are not favorable among startups (6 hours, $174).
1. Are you interested in accelerators/incubators that provide assistance for a specific type of startups, such as the healthcare startups?
2. Are there any specific requirements/qualities that the accelerators/incubators should have/offer (i.e. workspace/office space, a certain amount in convertible notes, a specific length of a mentor program, how much equity they withhold, an application process, provision of venture capital funding, etc.)? If so, please list any required characteristics.
3. What information are you looking for each accelerator/incubator that we locate? So far we have the following points, please confirm if these are what you want, and if there are any more, please provide them.
- Company Name
- Value Proposition
- Member Footprint (can you please explain what you mean by this?)
- Office Location(s) (does this mean where the accelerator is located, OR does it mean where the office space that they provide for startups is located?)
- Success Metrics/Money Raised
4. Is there a specific number of accelerators/incubators you wanted us to identify? We would be able to provide a list of 5-7 within a single request if addressing each of the criteria listed above in question 3. If more data points are wanted, we could locate 3-5, and if fewer data points are wanted, we could locate 7-10.