Two new startups have arrived at Massachusetts Biomedical Initiatives, the Worcester-based life sciences incubator steadily increasing its footprint throughout Central Massachusetts.
In the fourth quarter, MBI added Roper Thermals and Proper Stagg Environmental Group to its startup cohort, according to a Friday press release from the incubator.
Roper Thermals is a manufacturer of technical grade and 99% paraffin waxes and oils. Proper Stagg uses pyrolysis, a technique of decomposing waste through heat, to turn wood waste into renewable energy.
Roper Thermals and Proper Stagg join dozens of companies working out of MBI, including Conifer Life Sciences, Leal Therapeutics, and Codomax, according to the firm’s website. The incubator is now at 95% capacity.
The announcement of MBI’s new startups comes shortly after the incubator teamed up with Worcester Polytechnic Institute and 31 regional partners to launch a BioHub to support what they refer to as the bioindustrial revolution in Central Massachusetts.
“The vision behind the BioHub designation is rooted in years of regional planning and collaboration. Through the Regional Biomanufacturing Strategy, we and our partners outlined a roadmap to support the companies and talent that fuel this sector,” Jon Weaver, MBI president and CEO, said in the release.
Backed by $5.2 million in state funding, the BioHub aims to complete 24 pilot projects, train more than 500 people, and produce 3,000 new positions over the next three years.
“This announcement represents far more than a new set of programs. It’s a major commitment to strengthening the ecosystem that emerging biotech companies need to innovate and scale,” Weaver said.
With 35 incubating companies as of the second quarter, MBI is the third-largest incubator in Central Massachusetts when ranked by data collected by WBJ’s Research department.
In fiscal 2024, MBI generated $5.33 million in revenue and held $31.32 million in assets, according to nonprofit financial tracker Candid.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare, manufacturing, and higher education industries.
