MTDC's role in the Innovation Economy
RequiredRequired Question(s)
Required 1.

What is your profession?


Aspiring entrepreneur
Experienced entrepreneur
Angel investor
Venture capitalist
Service provider (i.e. lawyer, accountant, consultant to entrepreneurs)
Trade organization (i.e. MITX, TCN, MassTLC, etc.)
Required 2.

 How do you know MTDC? (choose all that are applicable) 



Not at all
I've heard of it
I know well what it does
I've referred companies to it
I've done deals with it or received funding from it
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Is there a shortage of equity capital in Massachusetts for start-up technology companies?  (i.e. a "capital gap") 



If yes, where is the "capital gap"? Companies seeking initial funding of:


$500k-$1 million
$1 million - $3 million
$3 million to $5 million
$5 million to $10 million

Are there other aspects to the capital gap than funding amounts? (choose all that apply)


Yes - Funding for underserved MA geographies (i.e. companies located in Western MA)
Yes - Funding for first time entrepreneurs (i.e. entrepreneurs who have never started a company before)
Yes - Funding for underserved industries (i.e. material sciences, robotics)

To what degree are the following role(s) appropriate for the state to play in MA's entrepreneurial community?

 Not At All Appropriate    Very Appropriate 
Funding companies in underserved MA geographies
Funding companies in underserved industries (i.e. robotics, material sciences, industrial automation, etc.)
Funding university technology spin-outs
Participating in angel group-led financings
Playing a catalyst role in venture capital financings
Providing mentorship and guidance (no funding) to early entrepreneurs

To what degree should the state pursue the following activities to best support early-stage entrepreneurs?

 Definitely Do Not Pursue    Definitely Pursue 
Providing equity funding
Running business plan competitions
Providing venture debt
Providing grants
Providing mentoring and technical assistance services
Offering tax credits for job creation
Assisting the spin out of technology from universities and corporations
Helping entrepreneurs navigate state government

How many equity deals should the state (MTDC) complete each year to be considered a meaningful funding source for early-stage innovation companies?


N/A - MTDC should not make equity investments

How many companies should MTDC be assisting in other ways besides funding (i.e. through coaching and mentoring) each year?


N/A - MTDC should not assist in other ways

What would be the most appropriate dollar amount for the state (MTDC) to initially invest in a company?


> $500k
N/A - MTDC should not make equity investments

How should MTDC best provide its equity funding?


Maintain a staff to conduct diligence and provide independent assessment of quality of investment
Provide automatic match to a private angel or VC funding
N/A - MTDC should not provide equity funding

Does MTDC's investment in an early-stage technology company make it more attractive to other investors?


It doesn't make a difference

What value do you perceive MTDC brings to an investment? (can pick more than one)


Mentorship to entrepreneurs
Introduction to additional capital sources
Strategic guidance
Introduction to business partners or customers
N/A - MTDC does not bring value to an investment

Would MTDC be as an effective catalyst in the Innovation Economy if it ceased providing funding and focused on programs only (i.e. mentoring, identifying appropriate capital sources for entrepreneurs, running business plan competitions, etc.)?


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What is the primary metric by which an organization like MTDC should be measured? 


Investment returns (IRR)
Number of MA jobs created
Investment leverage (i.e MTDC invests $500K, spurring another $4 million from private sources)

Should MTDC's investment criteria be driven by the goal of self-funding through its investment gains?



MTDC is evaluating a $2 million annual SBIR match funding program. The purpose of this program is to provide state grant money that will be complementary to the federal monies provided by Phase 2 or 3 SBIR funding. The grants will provide support to help companies commercialize their technology. The grants will be more flexible than federal dollars, allowing a company to develop a market study and a business plan (versus just R&D efforts). The goal is to provide this funding to technologies that have the potential to become real businesses. It will be assumed that the technology is sound as evidenced by the SBIR award. MTDC's review process will focus on the viability of the business. Would the MA Innovation Economy be better served by:


A highly selective, rigorous process that would result in four, $500K grants
Grants of smaller amounts, available to more companies that would enable the company to achieve certain milestones on the way to commercialization
N/A - MTDC should not participate
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Which funding vehicles should MTDC provide to early-stage technology companies?

 Definitely do not provide    Definitely provide 
SBIR matching grants (as described above)
Seed investments in companies with just a prototype
Series A investments in companies for go-to-market efforts
Growth capital investments in companies

How can MTDC improve its effectiveness of supporting start-up technology companies in Massachusetts?



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