Spencer Trask & Co. will be holding a startup competition starting in July that will award the winner $25,000 to locate a business in that part of the city
I can imagine that 25K going really fast once you pull up out of your apartment and set up a "real" office. The idea sounds half-baked to me.
I'm in the Boston area and would really like the startup culture to grow here, but I get the feeling that our local government just doesn't get it.
Seems that while MA is not as hostile as CA to non-competes, I vaguely remember from my business law class that they are still generally weak, and this article confirms:
"Having been involved in counseling companies on noncompete issues for 20-plus years, I have to admit that I am suprised to read this. While noncompetes are pervasive in Massachusetts, many judges are unwilling to enforce them, or will enforce them only in part (i.e., “you can’t work in this particular area for a period of time”). The sense of lawyers in Massachusetts is that absent theft or trade secret misappropriate of some sort, enforcing a noncompete is an uphill fight, so better to negotiate than attack head-on. Most noncompete disputes are negotiated to a private resolution."
And what's the basis for thinking the second one is not true in MA? What legal theory would hold that IP developed with your own time and resources not be yours, unless you signed away that right explicitly (and even then, if there's no consideration...)
I'll believe it when I see it - it will be very interesting to see if other VC firms in the area (Sigma, Greylock, Matrix, Polaris, North Bridge, etc) get involved in this at all.
As it is, I've not seen very many business-or-startup friendly movements coming from the local and state government, so we'll see.
I agree, getting other firms involved will definitely help the process and could decide it's success or failure. The building(s) in that area alone aren't going to attract startups. The whole package (location, funding, state and local laws) needs to be more attractive.
At least they've announced they're working on it though. This still could go no where, but it's nice to know startups are being talked about at the local government level.
I can imagine that 25K going really fast once you pull up out of your apartment and set up a "real" office. The idea sounds half-baked to me. I'm in the Boston area and would really like the startup culture to grow here, but I get the feeling that our local government just doesn't get it.