Boston University International Incubator Program Receives Global Recognition

in Business, News Releases, School of Management
July 25th, 2008

Contact: Richard Taffe, 617-353-4626 | rtaffe@bu.edu

(Boston) — Boston University’s International Incubator Program, blending academics with business development, has won the National Business Incubation Association’s coveted seal of approval recommending it to international companies looking to expand to the United States. Of the 2,100 U.S. business incubators, BU’s is the fifth to earn the endorsement, one of 12 globally, and the first in the Northeast.

“This designation is good for Boston University and it’s good for the city of Boston and the state,” said BU President Robert A. Brown. “Given our leadership role in the life sciences, our experience in incubating new businesses, and our international focus, we are especially well-positioned to help foreign companies that are interested in developing emerging technologies in the American market. We can assist them in building local capacity, while they in turn provide opportunities to our faculty and students and also help strengthen the regional economy with new business and new jobs.”

The 2-year NBIA “Soft Landings International Incubator” designation recognizes those especially capable at helping overseas companies enter the domestic market. BU was selected because of its business services and academic offerings, and proven success in helping firms enter the U.S. market, said NBIA spokesman Randy Morris. Thanks to the NBIA nod, the Massachusetts Office of International Trade & Investment (MOITI) now recommends BU as a first stop for international firms exploring U.S. expansion.

“The designation of Boston University’s International Incubator Program as an official Soft Landings Incubator is great news for both BU and the Commonwealth of Massachusetts,” said Christa Bleyleben, MOITI executive director. “As one of only five in the United States to have achieved this distinction, BU’s program will be especially beneficial to innovation-driven businesses from around the world that are looking to explore partnerships with Massachusetts. We look forward to working closely with the Boston University team and to the opportunity to create new jobs in Massachusetts.”

BU’s application for the NIBA status demonstrated a mix of both academic resources and traditional business incubator services available for foreign firms. They include translation services, language training, market research, customized facilities, engineering assistance, and entrepreneurial-management coursework, along with help with intellectual property protection, government regulation, and import/export law. MBA students, for their coursework, can be assigned to help foreign firms determine their needs.

The resources available from BU’s International Incubator Program are centered around its traditional business incubator system — which includes the Business Incubator on the Charles River campus and the BioSquare Discovery and Innovation Center on the Medical School campus — and the education, training and facilitation services available across BU’s spectrum of colleges through the Institute for Technology Entrepreneurship and Commercialization (ITEC) based in the School of Management.

Founded in 1839, Boston University is an internationally recognized institution of higher education and research. With more than 30,000 students, it is the fourth largest independent university in the United States. BU contains 17 colleges and schools along with a number of multi-disciplinary centers and institutes which are central to the school’s research and teaching mission.

For more information:

BU International Incubator Program, www.bu.edu/iip/

NBIA Soft Landings Program, www.nbia.org/member_services/soft_landings/details.php

Mass. Office of Trade & Investment, www.moiti.org/

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