To create a stronger ecosystem in Massachusetts, I propose...

Support “Rapid Prototype Innovation” and connections/partnership

Separate from venture money, established technology companies have their own funds. These firms have money and what they need is innovative products to feed their large sales channels. By educating innovators to build rapid prototypes of innovative new products, something that you can touch, perhaps the ecosystem can connect these ideas with existing companies. It would be most effective if this connection provided some protection from improper investing agreements. Both large companies and the new startups can be served and both provide growth for Massachusetts.

 

The Boston ecosystem may be able to help make these connections, establish some first time engagement structures (with respect to fund raising) and make innovators feel they can produce an idea and use some of that early value to jumpstart their startup. The key is to allow innovators and entrepreneurs to feel like they can "make it" with their idea.

 

The startup ecosystem could create exchanges between these two groups, not only helping the small startups but also the larger firms to engage and solicit help in new product sectors to augment their existing solutions, areas they are not working in, providing upside for everyone.

 

These relationships will foster partnerships between the larger firms and startups. Conducive to channel partnerships, value added products and services to customers and later acquisitions.

 

Finally, Rapid Prototyping allows for incremental progress. Many innovators can start working nights and weekends on rapid prototype products while working their day job. Again, helping the innovator build and work within the budget they have now and when ready, have a way to accelerate into the market.

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Idea No. 19