We analyzed funding trends into genomics companies using CB Insights data. After California, Massachusetts has solidified itself into a solid second place for genomics deals. At 12%, deal share into the area was more than double the number seen in New York.
In general, Massachusetts ended up missing out on a lot of the value created in the recent technology entrepreneurship wave despite being a tech epicenter in the 1980s. Route 128 was Silicon Valley! Even Y Combinator originally was in Cambridge. People attribute tech entrepreneurship moving to California for different reasons, from non-competes to lack of investor networks, but as the intersection of biology and technology inch closer together, Massachusetts has the opportunity to pioneer innovation here if it sets up a conducive environment for entrepreneurship.
Considering the amount of genetics breakthroughs happening in the labs at MIT and Harvard as well as the large pharma/biotech presence, Massachusetts is poised to ride the genetics/CRISPR wave. Genomics could be a forward-looking indicator – more innovation on the software + biotech/med device side has the potential to happen in Massachusetts especially in areas like AI in drug discovery, automating wet labs, etc.