The MassChallenge Startups Raise $90M+ & Create 500 Jobs

http://bostinnovation.com/2011/08/09/the-masschallenge-stimulus-package-inaugural-class-of-startups-raise-90m-create-500-jobs/

by jsavimbi • 15 years ago

34 10 15 years ago

bostinnovation.com

pyoung2• 15 years ago

Creating tech jobs does nothing to solve the unemployment crisis. I don't have any stats, but my guess is that the unemployment numbers for qualified tech workers are already absurdly low. Unless these guys are building manufacturing plants in the mid-west, I doubt any of these companies will have any significant impact on unemployment numbers.

smanek• 15 years ago

Creating tech jobs will drive tech salaries up. That will attract new workers to tech (make it worth the investment to retrain, etc), and 'trickle down' money to manufacturing and other industries.

Making the pie bigger is good.

Of course $90M and a few hundred jobs won't shift equilibrium much on its own, but it's a step in the right direction.

kmccarth• 15 years ago

ahh, Reagan's trickle-down effect. fingers-crossed...

cgarb• 15 years ago

Agreed with smanek - step in the right direction and trickle down does make sense. Where we have a problem is our educational infrastructure. We would see way more people going into tech if we had more people able to teach it to them. Need to be teaching CS way earlier in school and should be mandatory. CS should replace lost manufacturing jobs.

pyoung2• 15 years ago

Trickle down? Seriously?

Even if trickle down had a positive effect on the economy (which it doesn't), technology tends to have a negative effect on employment anyway. I am all for advances in technology, it increases efficiency, productivity, and quality of life. But let's face it, Amazon put a ton of brick and mortars out of business, e-mail's killing the postal service, humans are pushed out of manufacturing jobs by advances in robotics, etc...

HistoryInAction2• 15 years ago

Send this one to the WH to show them that promoting entrepreneurship promotes job growth.

dbfclark• 15 years ago

Just FYI, MassChallenge is already the Massachusetts partner of Startup America, the White House's initiative to promote entrepreneurship. I think they know.

HistoryInAction2• 15 years ago

Thanks, didn't know that!

marcamillion• 15 years ago

Any entrepreneur looking to raise money now, shouldn't. Focus on generating cash flow.

The party is about to end. Those sky-high valuations and relatively easy deal flow will be coming to a trickle over the next few months, as we see the financial markets take a beating.

The MassChallenge Startups Raise $90M+ & Create 500 Jobs

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