North Shore InnoVentures Chosen as International Soft Landing Center

Beverly-based incubator chosen as only international soft landing
center in New England;

Offers specialized services to foreign biotech and cleantech
companies establishing US operations

BEVERLY, Mass.–(BUSINESS WIRE)–#MassachusettsNorth
Shore InnoVentures
(NSIV), a non-profit technology business
incubator helping biotech and cleantech startups increase their
probability of success, earned recognition as part of the Global
Soft Landing Network by the International Business Innovation
Association (InBIA)
. NSIV is the only location in New England to
join the highly-selective program, which identifies incubators around
the world that are expert in addressing the needs of companies expanding
into new national markets.

International entrepreneurs face huge challenges as they look to enter
the US market. In addition to the technological and business challenges
that plague every eager entrepreneur, they also often find cultural and
market differences that hamper growth. What they need is a place to
start that offers them a chance to get to know the market while also
providing the business mentorship they need to succeed.

“A company cannot simply apply what they know in their home market to
what goes on here. They need specific help to solve complex problems,”
said NSIV CEO Chris Ilsley. “Each company’s challenge is unique and they
need unique mentorship to help them solve it. For one company it could
be as simple as giving samples to prospective customers, which seems so
natural to a company marketing in the US but is a new concept in some
business cultures. For other companies the problems could be in
navigating regulatory and compliance issues, or even understanding
fragmented and localized markets that exist across the US.”

Foreign investment has a huge impact in Massachusetts

This isn’t just about entrepreneurship, but about boosting local
economic impact with foreign investment. Foreign direct investment in
the US totaled $259.6 billion in 2017, according
to the US Bureau of Economic Analysis
. Of that, $6.4 billion focused
specifically on establishing and expanding foreign businesses. Here in
Massachusetts, nearly 7 percent of private industry employees work
for companies that are foreign owned
, accounting for more
than 200,00 jobs
.

“International companies need help in a myriad of different areas, from
legal assistance around issues like immigration, intellectual property
and import/ export issues, to cultural training, housing assistance and
access to capital,” said Charles Ross, InBIA’s interim president and
CEO. “NSIV is the rare location that has a long history of helping such
companies across all categories of need.”

The Soft Landing designation comes amid a year of growth and expansion
for NSIV. Celebrating its first decade, the incubator recently hired a
new CEO and expanded its footprint at the Cummings Center in Beverly.
Its newly-opened 13,000 square foot facility includes co-working, wet
labs and a maker space. In addition, the Cummings Foundation awarded
NSIV a 10-year, $200,000 sustaining grant, and InBIA previously
recognized NSIV by naming it the
Dinah Adkins Technology Incubator of the Year
. Since its inception,
NSIV has incubated 44 companies that have created 295 jobs, many of
which remain in the North Shore of Massachusetts.

ABOUT the International Business Innovation Association (InBIA)
InBIA
is a global nonprofit with over 2,200 members that lead hundreds of
entrepreneurship centers in 62 countries. For over 30 years, InBIA has
provided industry best practices through education while enabling
collaboration, mentorship, peer-based learning and the sharing of
innovative ideas for developing entrepreneur centers and ecosystems
across the globe. InBIA is the premier organization for business
incubators, accelerators, coworking spaces and other entrepreneurship
support organizations.

About NSIV
North Shore InnoVentures (NSIV) is a non-profit
501(c)(3) business incubator headquartered in the burgeoning cluster of
more than sixty life sciences and cleantech businesses at the Cummings
Center in Beverly, MA. NSIV is dedicated to accelerating the growth of
innovative early-stage life sciences and cleantech businesses and
supporting the economic growth of Boston North. Its management, board of
directors, advisory board, and mentors bring a wealth of
entrepreneurship experience in addition to business development and
technical expertise. Further support comes from sponsors who contribute
marketing, legal, operational and educational services. For more
information, visit http://www.nsiv.org.

Contacts

NSIV
Trish Fleming, 617-306-0984
trish.fleming@nsiv.org
or
Fresh
Ground
Chuck Tanowitz, 617-575-9643
ctanowitz@freshground.co

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