07 INTERNATIONAL TECH HUBS SECOND EDITION | BDO LLP
BOSTON’S VENTURE CAPITAL INTEREST IS STRONG, WITH THE CITY COMING SECOND ONLY TO CALIFORNIA AND ITS SILICON VALLEY IN TERMS OF INVESTMENT INTEREST FROM VCS
THE INVESTOR ANGLE Boston’s venture capital interest is strong, with the city coming second only to California and its Silicon Valley in terms of investment interest from VCs . The investment community network - formed of investors, accounting firms, law firms and other related service providers - has always been strong, with a track record of attracting strong investment from UK, Ireland, the rest of Europe, and the Asia Pacific region. The area’s focus on BioTech and HealthTech, as well as its diverse start-up ecosystem, have encouraged venture capital funds to invest extensively in the area. In Q2 of 2020 alone, Boston-area companies raised $3.7 billion in 126 deals – an impressive rate considering the current climate . In terms of other support, there are around 50 accelerators, investment groups and programmes that support the incubation of great ideas in the Boston area. MassChallenge, for example – created with backing from the City of Boston and Massachusetts state government representatives – is an accelerator that offers grants, mentorship, networking and more to businesses. There are plenty of incubators aimed at specific tech to help maximise success too; Bolt, for example, offers prototyping shops and full-time engineering staff for hardware start-ups.
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