Cambridge Innovation Center Explained

Cambridge Innovation Center (CIC)
Type:Private
Founders:Timothy Rowe
Andrew Olmsted
Hq Location:Cambridge
Hq Location City:Massachusetts
Hq Location Country:U.S.
Key People:Timothy Rowe, CEO; Geoff Mamlet, Managing Director
Num Employees:100+
Industry:“Innovation space,” “co-working”
Products:“Innovation space”
Services:Shared workspace for entrepreneurs
Num Locations:9 cities

Cambridge Innovation Center (CIC) is an American real estate services company which bills itself as a "community of entrepreneurs".[1] The company was founded in 1999 by Massachusetts Institute of Technology (MIT) graduates Timothy Rowe and Andrew Olmsted. Its campuses are a mix of startups, “corporate innovation spin-outs,” and venture capital funds. CIC houses innovation globalization programs for more than a dozen governments, including Canada, China, Germany, Japan, and the Netherlands.[2]

History

CIC was founded in 1999 in 2700square feet at 238 Main St in Kendall Square (also the home of the MIT Treasurer's office). In April 2001 it grew to 18000square feet 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.[3] It continued to grow, doubling in size twice by 2004, reaching 71000square feet and 75 companies.[4]

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.[5]

In August 2008, CIC housed 170 companies, and was recognized in a Boston Globe feature article. Massachusetts Governor Deval Patrick visited Cambridge Innovation Center in January 2009.[6], CIC had grown to over 500 companies.[7]

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.[8]

CIC is the first innovation center to have opened. Since its creation, private companies and local governments are promoting the creation of their own version of an innovation center. Innovation centers can be local development strategies through public-private partnerships for cities to foster innovation district.[9] [10]

In February 2018, the CIC signed a lease for in the heart of Kendall Square at the corner of Broadway and Main. The lease comes with a large street facing video screen and the location is a short distance from the Kendall/MIT station Red Line subway.[11]

In March 2018, CIC closed a $58 million round of funding from HB Reavis.[12]

In 2020, CIC founded CIC Health, a subsidiary that manages COVID-19 testing sites. In 2021, the Commonwealth of Massachusetts contracted CIC Health to run mass vaccination centers at Gillette Stadium, Fenway Park, and later the Hynes Convention Center.[13] CIC Health manages the scheduling and logistics for its testing and vaccines sites, while procedures are performed by contracted physicians and hospital workers.

Also in 2020, CIC opened two new campuses in Tokyo and Warsaw.[14]

Notable companies at CIC

Trivia

In 2008, Cambridge Innovation Center operated one of the early bikeshare programs in the Boston area.[19]

Notes and References

  1. Web site: Cambridge Innovation Center Expands to the Netherlands . July 7, 2015 . Netherlands Foreign Investment Agency . 2018-02-02 .
  2. Web site: Warsaw. CIC. en-US. 2019-06-03.
  3. Web site: ArchitectureWeek Image - The Buzz at Build Boston 2000 . Architectureweek.com . 2013-09-22 . https://web.archive.org/web/20180203123216/http://www.architectureweek.com/cgi-bin/supporting_architectureweek.cgi?dir=2000%2F1206&article=building_1-2.html&image=11206_image_8.jpg . February 3, 2018 . dead .
  4. News: Cambridge incubator celebrates doubling in size. Boston.bizjournals.com. 2013-09-22.
  5. News: After fire, 150 Cambridge startups scramble. Boston.bizjournals.com. 2013-09-22.
  6. Web site: Patrick aims for technology in Kendall Square visit - Cambridge, Massachusetts - Cambridge Chronicle & Tab . Wickedlocal.com . 2013-09-22 . https://web.archive.org/web/20090611234241/http://www.wickedlocal.com/cambridge/archive/x33243146/Patrick-aims-for-technology-in-Kendall-Square-visit . June 11, 2009 . dead . mdy-all .
  7. Web site: CIC Residents. August 25, 2018 . dead . https://web.archive.org/web/20130430152720/http://cic.us/residents.html . April 30, 2013 .
  8. Web site: CIC : Wexford Science + Technology : Cambridge Innovation Center Announces CIC St. Louis, First Expansion Outside of Massachusetts . Cicst1.com . 2013-09-22 . https://web.archive.org/web/20130926214108/http://cicstl.com/i/cic_stlouis.pdf . September 26, 2013 . dead . mdy-all .
  9. Web site: 13th International Postgraduate Research Conference 2017 : conference proceedings. C.. Pathirage. U.. Kulatunga. Y.. Ji. R. N.. Gameson. C. E.. Udeaja. C.. Trillo. M.. Takhtravanchi. B.. Allali. C.. Pathirage. U.. Kulatunga. Y.. Ji. R. N.. Gameson. C. E.. Udeaja. C.. Trillo. M.. Takhtravanchi. B.. Allali. October 4, 2017. University of Salford. usir.salford.ac.uk.
  10. Public-Private Partnerships for the Knowledge Economy: The Case of Innovation Centers. Arnault. Morisson. September 12, 2017. 3046174.
  11. News: Logan . Tim . CIC secures spot in heart of Kendall Square . . 2018-02-01 . 2018-02-02 .
  12. Web site: Cambridge Innovation Center raises $58 million to grow its coworking hubs globally. Venture Beat. March 14, 2018. Paul Sawers. May 27, 2023.
  13. Web site: Gardizy . Anissa . Seven months ago CIC Health didn't exist. Today it's running the state's mass vaccination effort - The Boston Globe . BostonGlobe.com . 19 April 2021.
  14. Web site: Tim Rowe, co-founder and CEO of CIC, talks latest expansions. BOSTINNO. December 22, 2022. Hannah Green. May 27, 2023.
  15. News: Mass. figures large in Google's game plan . The Boston Globe . Robert . Weisman . May 14, 2008.
  16. Web site: GreatPoint Energy . GreatPoint Energy . 2013-09-22.
  17. Web site: Great Point Energy : Before the Commonwealth of Massachusetts : House Committee on Environment, Natural Resources and Agriculture . Greatpointenrgy.com . 2013-09-22 . https://web.archive.org/web/20150924023551/http://www.greatpointenergy.com/pdfs/whitepapersandtestimony/January2008_HouseCommitteeOnEnvironment.pdf . September 24, 2015 . dead .
  18. Web site: HubSpot Says Thank You & Goodbye to the Cambridge Innovation Center. Pamela. Vaughan. www.hubspot.com.
  19. News: For some Cantabrigians, a free ride for the fun of it . The Boston Globe . Christina . Pazzanese . January 13, 2008.

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