Cambridge Innovation Center
 |
|
| Private | |
| Industry | Innovation spaces |
| Founded | 1999 |
| Founder | Timothy Rowe Andrew Olmsted |
| Headquarters | Cambridge, Massachusetts, United States |
|
Key people
|
Timothy Rowe, CEO; Geoff Mamlet, Managing Director |
|
Number of employees
|
100+ |
| Website | http://cic.us/ |
Cambridge Innovation Center (CIC) is an American real estate services company which bills itself as a "community of entrepreneurs". The company was founded in 1999 by Massachusetts Institute of Technology (MIT) graduates Timothy Rowe and Andrew Olmsted.
Contents
Role in economy
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"If technology and innovation are the lifeblood for our future, then CIC is ground zero. That's saying a lot, considering it sits in the Kendall Square neighborhood next door to the Massachusetts Institute of Technology (which owns the building) and its cutting-edge research labs."
- Rob Weisman, The Boston Globe[1]
History
CIC was founded in 1999 in 2,700 square feet (250 m2) at 238 Main St in Kendall Square (also the home of the MIT Treasurer's office). In April 2001 it grew to 18,000 square feet (1,700 m2) across the street at One Broadway. An unusual office design garnered its new office the Honor Award for Design Excellence from the Boston Society of Architects for 2000.[2] It continued to grow, doubling in size twice by 2004, reaching 71,000 square feet (6,600 m2) and 75 companies.[3]
In December 2006, a major transformer fire in an NSTAR electrical vault in the basement of One Broadway led to the building and the CIC being closed for 5 weeks. The 150 companies located in the building at that time, including Google, had to be relocated on an emergency basis in space provided by MIT.[4]
In August 2008, CIC housed 170 companies, and was recognized as a phenomenon of sorts in a Boston Globe feature article.[1] Massachusetts Governor Deval Patrick visited Cambridge Innovation Center in January 2009.[5] As of July 2013[update], CIC had grown to over 500 companies.[6]
In May 2013, CIC announced its first expansion outside of Massachusetts. CIC St. Louis anticipates being able to house up to 100 companies when fully occupied.[7]
Famous companies based at CIC
"An astonishingly high percentage of cool start-ups in town start off in this space."
- Scott Kirsner, Innovation Economy author and columnist at The Boston Globe[8]
- Google set up its New England headquarters in CIC in 2005. The first person to move in was Google Android (operating system) co-founder Rich Miner. It grew there until, at approximately 175 people and no longer able to fit, it relocated a block away.[9]
- Maven Technologies, the company that became a Yahoo subsidiary and the kernel of its operations in Cambridge, also began at CIC.
- Great Point Energy,[10] while based at Cambridge Innovation Center in 2007, raised $103M for its coal gasification technology in what was at the time one of the largest investments in the history of cleantech.[11]
Trivia
In 2008, Cambridge Innovation Center operated one of the first bikeshare programs in the Boston area.[12]
References
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