North Shore InnoVentures Receives $100,000 Grant from Cummings Foundation

Grant Will Aid in Services for Biotech and Cleantech Startups

BEVERLY, Massachusetts, June 25, 2013. North Shore InnoVentures, (NSIV) one of New England's leading technology incubators and business accelerators, announced today that it has received a $100,000 grant from Cummings Foundation. The grants were awarded under Cummings Foundation's $10 million "$100K for 100" program to local area not-for-profit organizations.

"Cummings Foundation supports many programs that contribute to the economic development of our region and we are proud to be recognized by the Foundation for the work we do with startups, creating jobs and helping them bring exciting and important new technologies to market," said Martha Farmer, President and CEO of North Shore InnoVentures. "As our landlord and a corporate sponsor of NSIV, Cummings Properties has been an integral part of our success, providing flexible, state-of-the-art space ideally suited for collaboration and growth. We look forward to a continuing relationship that benefits our client companies and the North Shore biotech and cleantech communities."

North Shore InnoVentures operates technology business incubators to nurture innovative early stage companies and support sustained economic growth in the North Shore region. NSIV focuses on cleantech and life sciences, two of the strongest technology clusters in Massachusetts, and provides creative business acceleration services that increase the success rate for early-stage companies and their investors.

"As a driver of economic growth, North Shore InnoVentures is well positioned to have a highly positive impact on the North Shore," said Joel Swets, Executive Director of Cummings Foundation. "We are delighted to support its efforts to assist the local startup business community."

"This multi-year grant will help us to defray operating costs over the next few years and further our incubation services for early stage companies," said Tom Kinneman, Vice President and Chief Operating Officer of North Shore InnoVentures. "We've recently added six new life science and cleantech client companies, which indicates the strength of the startup community in the North Shore and their interest in our programs to help technology entrepreneurs thrive."

About the Cummings Foundation
Established in 1986 by Joyce and Bill Cummings of Winchester, Cummings Foundation, Inc. is a private operating foundation. Based in Woburn, it has been the beneficiary of substantial contributions from the Cummings family, often through the commercial real estate firm Cummings Properties, LLC. With assets exceeding $1 billion, it is one of the largest private foundations in New England. Cummings Foundation directly operates its own charitable subsidiaries, including Veterinary School at Tufts, LLC and its two New Horizons retirement communities in Marlborough and Woburn. In 2011, Cummings Foundation created two grant-making affiliates: OneWorld Boston, Inc., which supports charitable organizations serving Middlesex, Essex, and Suffolk counties in Massachusetts; and Institute for World Justice, LLC, which funds national and international organizations, with a special focus on Rwanda.

About North Shore InnoVentures
North Shore InnoVentures (NSIV) is a non-profit 501(c) (3) business incubator headquartered at the burgeoning cluster of more than sixty life sciences and cleantech businesses at the Cummings Center in Beverly, MA. NSIV is dedicated to accelerating the growth of innovative early-stage life sciences and cleantech businesses and supporting the economic growth of Boston's North Shore. Its management, board of directors, advisory board, and mentors bring a wealth of entrepreneurship experience in addition to business development and technical expertise. Further support comes from sponsors who contribute marketing, legal, operational and educational services.

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