START: The SBIR Targeted Technologies Program
A program initiative of MassVentures
Massachusetts companies are awarded over 200 Phase II Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) contracts every year, equating to more funding to the SBIR program per capita than any other state. START is a program funded by the Commonwealth of Massachusetts to assist Massachusetts-based companies, which have received SBIR/STTR Phase II funding, in turning their technologies into commercialized, promising technologies. The program helps high growth companies grow employment opportunities, promote manufacturing and commercialization, and stimulate innovation across the Commonwealth. In addition to this funding, the START program has served an equally impactful purpose in Massachusetts, that of bringing together an ecosystem of companies, expert reviewers, service providers and advisers who have helped make the program a success.
In total, over the past four years MassVentures has awarded $9,000,000 of START funds to 40 technology projects. The winning companies have raised additional capital of $24 million and added dozens of jobs, a 30% increase from initial employment levels.
START Overview Presentation
The 2015 START Stage III program winners are:
Boston Engineering is a product development and engineering consulting company that is using its START funds to commercialize its underwater vehicle technology, including the BIOSwimmer™. Boston Engineering’s unmanned underwater vehicle (UUV) systems replicate the dynamics of a biological fish to move rapidly and accurately in areas inaccessible by other vehicles for operations including port security, and underwater search and inspection. Waltham, MA.
Metamagnetics develops and markets leading-edge commercial and defense electronic products. It is using its START funds to deploy cost-effective, self-biased ferrite circulators, which reduce electromagnetic interference in dense communication and sensing environments. Canton, MA.
Mark Smithers, CTO of Boston Engineering:
“Boston Engineering thrives on solving client challenges and making a difference in the way that people work and live. It’s through programs such as START that we can take our creative ideas and bring them through to commercialization. We’re very thankful to MassVentures for this funding, recognition, and the expertise they have provided to help scale our technology during the past three years.”
Anton Geiler, President of Metamagnetics
“We are focused on enhancing the performance and driving down the cost of critical sensing, Earth science and communication systems. Remaining focused on our technology and scaling the company can only happen when you have the right mentoring and guidance surrounding you. In addition to the funding, MassVentures has provided just the right amount of support and guidance to help us scale and thrive. We look forward to the continued partnership.”