State Awards Grants to Support Tech and Innovation Companies’ Growth
FORGE Partners with Western Massachusetts Economic Development Council, Meristem Partners, and Berkshire Innovation Center to create the “Western MA Mentor Network!”
by: Amy Phillips
Posted: Jul 30, 2021 / 01:07 PM EDT/Updated:Jul 30, 2021 / 01:07 PM EDT
BOSTON (WWLP) – The Massachusetts Technology Collaborative, in partnership with the state, has awarded four grants totaling $700,722 from the ‘Pathways to Scale’ program, an effort from the Commonwealth to boost tech and innovation companies emerging from the startup phase and poised for growth.
The four grants will help build or expand mentorship programs statewide that support ‘scaling companies’ and aim to increase the survival rate of innovative, high-growth companies across Massachusetts.
Left to right: Laura Teicher of FORGE, Lucy Steinert, Kate Putnam, and Karen Carswell of Meristem Partners
Economic Development Council of Western Massachusetts (WMEDC) – ‘Western MA Mentor Network’
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Amount: $50,000 planning grant, $149,605 reserved conditionally.
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Timeline: 12 months
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Overview: WMEDC, in close partnership with Meristem Partners, FORGE, and Berkshire Innovation Center, is spearheading the initiative to create the ‘Western MA Mentor Network.’ The Mentor Network is a curated mentorship program focused on supporting the growth of scale up-ready companies in the four counties of western Massachusetts (Hampden, Hampshire, Franklin, Berkshire). The proposed network consists of three main components: a peer-to-peer founders network, a mentor training network, and a curated mentor matching program. The Network would be the foundation for a sustainable and diverse entrepreneurial ecosystem in Western Mass that creates a virtuous cycle where scaling executives remain in the region, support the local economy, and foster more entrepreneurs. An additional $149,605 has been reserved conditionally to expand the project award, based on the outcomes of the planning grant.