BEVERLY, Mass.--(BUSINESS WIRE)--North Shore InnoVentures (NSIV), a non-profit technology business incubator helping biotech and cleantech startups increase their probability of success, was presented with the Dinah Adkins Technology Incubator of the Year Award at this year’s International Business Innovation Association (InBIA) annual convention.
“This award is validation for a decade of work building an ecosystem of innovative cleantech and biotech companies on the north shore of Massachusetts,” said Martha Farmer, President & CEO of North Shore InnoVentures. “As we host some of the world’s leading life science entrepreneurs next week at BIO International in Boston, we hope they will see how focused incubation in this country can lead to market success.” The Adkins Award pays tribute to the accomplishments and contributions of Dinah Adkins, a pioneer within the business incubation industry.
North Shore InnoVentures also achieved a further milestone with a 10-year sustaining grant from the Cummings Foundation, promising $200,000 over the next decade. NSIV is one of 33 local nonprofits awarded a total of $10 million from Cummings Foundation through its new Sustaining Grants program.
As it approaches its 10th year, NSIV has grown its footprint at the Cummings Center in Beverly with a 13,000 s. f. facility that includes co-working space, well-equipped Class A wet labs and a maker space. Since its inception the company has incubated 45 companies that have raised a quarter of a billion dollars and created nearly 300 current jobs.
“Cummings has been a key partner in NSIV’s success,” said Tom Kinneman, COO of NSIV. “With the North Shore’s premier laboratory and co-working space, and the support from Cummings Properties and the Cummings Foundation, our early-stage companies have the resources they need to succeed.”
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. For more information, see us at https://inbia.org.
About Cummings Foundation
Woburn-based Cummings Foundation, Inc. was established in 1986 by Joyce and Bill Cummings. The Foundation directly operates its own charitable subsidiaries, including New Horizons retirement communities in Marlborough and Woburn. Its largest single commitment to date has been to Cummings School of Veterinary Medicine at Tufts University. Additional information is available at www.CummingsFoundation.org.
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’s North Shore. For more information, visit http://www.nsiv.org.