Page 34 - BusinessWest July 25, 2022

innovation economy has also long been one of the Bay State’s strengths. “Right here in Massa- chusetts, two of our economic powerhouses are innovation and manufacturing. And FORGE is really the first organzation to focus on bringing the two together to work collaboratively, which has a lot of fantastic impacts for both the innova- tor and the manufacturers.”
She was quick to clarify what she means by ‘startup,’ however. These aren’t solo inventors
“We’re really helping the success rate on the innovation side,
and we’re driving a tremendous amount of economic value to the manufacturing side locally.”
with a drawing scribbled on a napkin. In fact, the average startup FORGE works with has a proto- type, a manufacturing budget, and, on average, eight employees and about $900,000 in funding. But that next steps — starting production and scaling up — are tricky.
“We help them get ready to manufacture; we educate around getting their materials together, look through their specs, and make sure they have the appropriate amount of funding before they’re connected with any manufacturers,” Tei- cher explained. “On the other side of the equa- tion, we develop just as deep a relationship with the manufacturers themselves. So we’re able to
educate both sides on preparing to work together and then make right-fit connections between the two.”
To date, FORGE has served more than 500 startups and innovators and has more than 450 manufacturers and suppliers in the network — and is always looking for more local shops.
The results of connecting the two parties has been striking, as the startups working with FORGE have more than a 90% survival rate, as opposed to the national average of around 10%.
“So we’ve essentially flipped the script,” Tei- cher said. “We’re really helping the success rate on the innovation side, and we’re driving a tremen- dous amount of economic value to the manufac- turing side locally. We know of over $34 million in contracts resulting from our direct connections to manufacturing, and that’s definitely a tip-of-the- iceberg number. We’re serving about 300 startups and innovators annually at this point, so we’ve really accelerated.”
Forging Connections
FORGE was essentially created to help entre- preneurs building products to create prototypes and find manufacturers that can build the prod- ucts they’ve developed and specific compo- nents for them — specifically, manufacturers in Massachusetts.
In doing so, Teicher said, FORGE has support- ed 4,500 jobs in innovation and manufacturing, providing unique, manufacturing-focused sup- port across all sectors, including robotics, medical devices, cleantech, advanced materials, transpor- tation, and much more. About 75% of the innova- tors FORGE has helped return to the organization as they scale for new and further support, and
Laura Teicher says the survival rate of startups taking advantage of FORGE is more than 90%, a staggering improvement over the national average.
20% are in full-scale production and deployment. Meanwhile, more than 40% of the startups are minority-led, and 28% have female or non-binary leadership.
“How you design and manufacture your prod- uct can really make or break your product. There are a million pitfalls,” Moforte said. “So getting the right connections, getting the right advice, getting the right people on your side, is critical. And that’s
The Best Residential HVAC Team in the Industry
With years of experience under our belt, your home’s needs are in capable hands. Ours.
• Indoor Air Quality • Heating & Cooling
Systems
• Plumbing Services
westernmassheatingcooling.com • 413-268-7777
34 JULY 25, 2022
MANUFACTURING
BusinessWest