Opinion

Forging a Stronger Economy

Editorial

 

When Laura Teicher was hired as director of Greentown Learn in 2018, one of the first things she did was push for a rebrand, a new name that better represented what the enterprise — an offshoot of Greentown Labs in Somerville that connects startups with manufacturers — is all about.

The team tried to get some variation of the word ‘connect’ into the name, almost calling it KINECT before realizing that was the name of a failed Super Nintendo app, as well as too close to K’Nex building toys.

What they eventually settled on was FORGE, which isn’t an acronym; the capital letters are used for emphasis. It was simply, elegant, and forceful, speaking to the way the agency forges relationships between innovators looking to produce and then scale up their big ideas, and manufacturers looking for new, local lines of business.

And that’s exactly what it has done, helping more than 500 startups since 2015, currently engaging more than 450 manufacturers, and supporting more than 4,500 jobs in innovation and manufacturing along the way. The startups in the program boast more than a 90% survival rate; the national average is around 10%.

But, in some ways, FORGE’s name took on a new meaning during the past two and a half years of economic upheaval churned up by the pandemic. It reflects the way this agency forged on, not only continuing to make connections, but re-emphasizing the importance of what it does.

Take the supply-chain crisis. The disruptions of those global production and shipping networks, which continues today, caused many manufacturers to localize their supply chains as much as possible, at the same time that startup companies were increasingly looking to manufacture their products close to home. In that sense, FORGE has become an even more valuable part of the innovation and manufacturing ecosystem.

But even in more stable times, an enterprise like FORGE is simply a good idea, on many levels. So many startups with good ideas fail because they don’t have this kind of resource to guide them into the production and scaling phases that are critical to a business success story. And so many manufacturers aren’t aware of the potential new lines of business sprouting up in their own backyards.

The greatest beneficiary is the regional economy itself. These connections are not only helping businesses grow and thrive, but do so in Massachusetts, and in many cases Western Mass., and that’s good economic news for everyone.

FORGE’s Western Mass. director, Kevin Moforte, told BusinessWest that he loves entrepreneurship, partly because of the role it plays in building not just individual wealth, but prosperous, stable communities. That’s something to celebrate during an era that has been anything but stable.

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