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Boston Innovation District – Venture Capital

South Boston’s Seaport Square

South Boston waterfront

 

Boston Mayor Thomas Menino recently revealed plans for a public Innovation District in South Boston’s waterfront area. The mayor is hoping to appeal to venture capital firms from other parts of the state and elsewhere with attractive real estate within the ongoing Seaport Square project’s borders.

Venture capital firms in the state have been huddled in the Cambridge and Waltham areas for some time, and this is partly a result of the “Cambridge Initiative” which apparently was a similar initiative that was successful in achieving a kind of startup and VC hub in that area. The Boston Mayor envisions a similar hub in South Boston where smaller early stage companies can rub elbows or collaborate with larger companies and VCs who have capital and connections.

It was not immediately clarified what the “public” label encompasses, but the Mayor in a speech to business executives at Boston College this week stated that Venture Boston will be the city’s initiative to bring venture firms from Cambridge and Waltham to Seaport Square. No reaction was immediately available from the mayors of Cambridge or Waltham.

At the same time, Mayor Menino is focusing on the Seaport Square project for his green economy initiative, a contest called “Solar Challenge” which combines the Mayor’s vision for reducing energy costs via clean technology with an incentive for bright young minds to take up residence in the area. The goal of the initiative is to generate 1 megawatt of solar powered electricity in the Seaport Innovation District by the end of 2013.

Still no reaction from the mayors of Cambridge or Waltham.

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