The Salem News: Federal Grant to Spur Expansion of North Shore's Biotech Industry

Endicott, North Shore InnoVentures partnering on life science, business incubator at college

BEVERLY — A $1.4 million grant to Endicott College — the largest federal grant the small private college said it has ever received — will spur construction of a new life science and business incubator center on campus that will be run through a partnership with North Shore InnoVentures, a Beverly-based biotech and cleantech incubator.

The investment is expected to create 335 new jobs and lead to the expansion of the North Shore's thriving biotech and life sciences sectors, those close to the grant award say.

Salem Congressman Seth Moulton, who announced the grant award in a statement Thursday afternoon, called it a “substantial federal investment" that will fund "critical infrastructure improvements" and create local jobs.

“I’m grateful to the Department of Commerce for making an investment that will enhance economic development, create new jobs, and solidify our state's role as a national leader in the life sciences industry,” Moulton said. The grant comes from the U.S. Department of Commerce's Economic Development Administration.

The money will go toward the construction of an 18,000-square-foot addition to the Ginger Judge Science Center on campus to house biotech and cleantech startups and related entrepreneurship activity there.

The facility could host up to 20 new startup companies, giving students in life sciences, business and marketing the chance to work with growing real-world firms, says Gene Wong, dean of Endicott's School of Arts & Sciences. Wong noted the college's business school is also attached to the science building, meaning students in finance, accounting or other fields would also get to intern with the startups.

He said North Shore InnoVentures and Endicott already have some startups at the science center, but the facility is at capacity, so the idea of the expansion would allow the program to grow.

"It's a great synergy," he said, referring to how Endicott provides facilities and North Shore InnoVentures provides the business know-how to run the incubator.

“We are very appreciative of the EDA investment that will help us move forward with the biotech incubator expansion of the Ginger Judge Science Center,” said Dr. Richard Wylie, Endicott's president, in a prepared statement. “The new facilities will allow additional startup companies to establish themselves on the North Shore, and expand academic and internship opportunities for students in developing a highly skilled biotechnology workforce within the region."

Wylie credited Wong in helping "to develop the infrastructure and academic, corporate, and government partnerships to make the North Shore an attractive location to start a biotechnology company."

InnoVentures a key partner

“The regional impact of this project will be the hundreds of jobs created by startups in the North Shore InnoVentures program that will be residents in this new biotech incubator facility,” said Martha Farmer, Ph.D., the president and CEO of North Shore InnoVentures, in a statement.

InnoVentures, based out of the Cummings Center, has already assisted 38 startups that have created 270 jobs, and the expansion at Endicott College will more than double the biotech and cleantech incubator's capacity.

"He felt we should be the ones to run it," said Farmer, who added the federal grant will provide about 15 percent of the building's cost.

Farmer noted Endicott College also has a thriving entrepreneurship program, and students are required to do three internships, including a full-time internship during their senior year, giving them valuable work experience and a greater likelihood of finding a job in their field.

Life science startups are also eager to have the help of interns, so the companies being housed at the new facility will give Endicott students expanded opportunities. Biotech entrepreneurs not only need help in the lab, Farmer said, but help with business, finance and marketing.

North Shore InnoVentures will, of course, remain at the Cummings Center, but the space at Endicott will give the program room to grow. InnoVentures is working with 24 companies now, and it has about 15 that have "graduated" from the incubator space.

For her work, Farmer, who serves on the Board of Advisors for Endicott College, has received an honorary degree from the college. Farmer, who is herself a scientist, said the most exciting thing is the innovation these biotech startups provide.

"I am getting to see amazing new technologies that are being developed in the world," she said.

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