I learned last week that Worcester has hired some people from the Massachusetts Institute of Technology's Department of Urban Studies and Planning to help develop a plan to boost startup activity. An MIT student, who is a candidate for a master's degree in city planning, called me on April 16 to ask for my assessment of Worcester's advantages and disadvantages for startups, and my thoughts on what the city could do to attract more startups.
In a nutshell, here are my answers: My favorite idea for how to attract more startups is for the University of Massachusetts Medical School to hire a researcher with a reputation as the world leader in the most promising field in biotechnology. In my view, Worcester's strengths for startups are its relatively low commercial rents and salaries, and a lower cost of living. Worcester's weaknesses are its lack of world leadership in many areas of technology, its challenges in attracting venture capital, and its relatively limited economic opportunity.
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