TechSandBox incubator closing in July
Courtesy/TechSandBox
TechSandBox headquarters in Hopkinton.
TechSandBox is closing its doors at the end of July due to a lack of sustainable funding, the Hopkinton incubator announced Tuesday afternoon.
Although corporate interest in incubator and accelerator spaces has grown over the past few years, support has been largely concentrated in major metropolitan areas, leaving smaller, regional incubators like TechSandBox to fall by the wayside, according to a press release.
“Two things have happened,” said Michael Miller, member of the board of directors of TechSandBox. “First, large local MetroWest companies have chosen to only sponsor similar entities in Boston but not those close to their headquarters, and, second, cities and towns have a parochial view of something that’s a regional asset, not part of their town per se, even though ‘every town wants one of these.’”
Since it opened in Southborough four years ago, TechSandBox helped create more than 50 companies by helping them grow more efficiently in an incubator space located closer to where people live. The incubator moved to Hopkinton with support from companies like AAFCPAs, Morse Barnes-Brown Pendleton, Bowditch & Dewey and Southfield Properties III, and grant support from the Massachusetts Clean Energy Center, MassDevelopment and Mass Tech Collaborative.
TechSandBox will distribute its $75,000 in equipment and physical furnishings to other incubators and nonprofits.
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