boston

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History

Boston is the capital of the state of Massachusetts, as well as the financial and cultural center of the New England region. Founded in 1630, it is one of the oldest cities in the United States, named after the English town from which its founding settlers came. The Greater Boston megalopolis, which includes Providence, Manchester, Worcester and Cape Cod, is one of the most populous in the United States, with 8.4 million inhabitants, and is recognized as the nation’s 6th largest economy.

Boston’s economic power is due in part to its academic excellence, centered around the Massachusetts Institute of Technology (MIT), Harvard University, and Boston University. In fact, more than 350,000 students, including around 20% d’étudiants étrangers, are attracted to Boston and contribute $4.8B to the local economy.

Boston boasts an extensive public transportation network, including subways, buses, trains and ferries. Boston Logan International Airport (BOS) connects the city to most domestic destinations and a multitude of international destinations.

Boston is also one of the cultural pillars of the United States. The Museum of Fine Arts attracts 1.2 million visitors every year. Considered the cradle of the American Revolution, the city center features the Freedom Trail, a route dedicated to the monuments emblematic of this period.

General Economy

In addition to its world-class academic reputation, Boston’s economic strength is based on its easy access to venture capital investment funds, and the well-known presence of technology companies. Boston is home to 7 Fortune 500 companies, including General Electric, Vertex Pharmaceuticals and Alexion Pharmaceuticals. Boston has become a reference center for biology, medicine, healthcare and robotics, with Boston Dynamics, world-famous for its quadruped robot.

In 2021, biology, medicine and healthcare startups in Massachusetts raised over 13 Md$, and grants from the National Institutes of Health (NIH) ont dépassé 3 Md$.

The robotics industry is represented by over 400 entreprises in Boston, and is supported by The Founder Institute accelerator, in partnership with NASA Ames Research Center and Mass Robotics, and its new Boston AI & Robotics Accelerator program, which aims to attract robotics talent.

Boston’s global influence is reinforced by its entrepreneurial scene, known as one of the l’une des plus dynamiques du monde, with an ecosystem valued at $266B. One of the distinctive features of this ecosystem is its attractiveness to female startup founders, who account for 10% of startup founders in Boston, compared with 3% at the federal level.

Science and Innovation

Boston’s education system includes some of the world’s most prestigious universities. MIT regularly tops the world rankings of engineering universities. The MIT alumni community has launched over 30,000 companies, created more than 4.6 million jobs and generates an estimated $1.9B in annual revenues. Harvard University meanwhile, is the oldest institution of higher learning in the USA. It regularly appears at the top of world rankings for higher education, such as the Shanghai ranking. Boston is also home to other renowned universities such as Boston University and Northeastern University.

Innovation and entrepreneurship are supported by these institutions through various programs, incubators and accelerators. These include, at MIT, the Dual-use Ventures Incubator, the Martin Trust Center for MIT Entrepreneurship, the Legatum Center for Development and Entrepreneurship, the MIT Delta V, and The Engine an investment fund dedicated to large-scale projects; at Harvard University, the Student i-Lab, Launch Lab X GEO and the Pagliuca Harvard Life Lab; and at Boston University, The Idea Incubator and BUild Lab.

Accompaniment and Support

Thanks to its academic, scientific and technological wealth, Boston is an environment conducive to innovation Kendall Square, adjacent to MIT, is internationally recognized as one of the most innovative spaces per square meter on the planet. This intellectual emulation is underlined by the abundant presence of innovation support structures in Boston, including, but not limited to: Greentown Labs, a startup incubator dedicated to working on innovative yet sustainable solutions related to climate change, which has just announced its ACCEL accelerator with the aim of facilitating access to funds for member startups; MassRobotics, a support space for robotics-related startups, offering a wide range of robots and sensors for experimentation and use cases; MassChallenge, an accelerator present in various locations around the world, including Boston, which offers a personalized 4-month pathway for winning startups; Tech Stars, an international accelerator with a branch in Boston, boasting over 19 unicorns and more than $24B in fundraising; Launchpad, a Boston-based network of investors that supports and finances local startups.