About Us

Mission

The mission of the Regional Technology Corporation ("RTC") is to be the market driven catalyst for growth and development of technology-based industries in Western Massachusetts and the Knowledge Corridor. In affiliation with the Western Massachusetts Economic Development Council, the RTC coordinates and manages the region's technology economic development strategy as it relates to business development, attraction and creation. It does this by:

• Expediting technology business transactions that lead to job growth and financial investment
• Helping leverage the hundreds of millions dollars of research at UMASS Amherst, Baystate Health Systems and other regional institutions
• Supporting the activities of three regional technology business networks (TEC, MMTN, BETA)
• Identifying gaps in technology business infrastructure and facilitating development of the region's technology business resources
• Advising technology service providers and other organizations that work with technology-based businesses
• Tracking national and global opportunities that play to the region's strengths
• Serving as a single point of contact for the region's technology businesses, affiliated organizations and for technology economic development strategy
• Marketing the region's technology assets outside the region and educating government officials about economic development opportunities that draw on the strengths of the region's technology assets

Background

The Regional Technology Corporation was created expressly to increase the number of technology-based businesses in western Massachusetts. It was created in direct response to an assessment by the Economic Development Council of Western Massachusetts that the region needed a more precisely focused technology development strategy. The EDC, together with the University of Massachusetts and others, commissioned the Battelle Institute to conduct a study of technology clusters, which was completed in 2000 and resulted in a National Science Foundation Grant of $600,000 to the University of Massachusetts Amherst.

This grant created the Regional Technology Alliance which fostered three technology clusters, one each in information technology, advanced manufacturing and materials and biotechnology. In addition, the EDC in 2002 retained Battelle to describe the best practices of similarly sized regions around the country that had developed strong technology development programs. These studies and experiences combined with the input from business consultants located in the region, venture capital fund managers and technologists resulted in the decision to create a corporate entity through which most services required to foster the development of technology based businesses would be channeled. The RTC was officially launched in June 2003 and became an affiliate of the Economic Development Council of Western Massachusetts at the end of the summer. The RTC will incorporate the RTA activities into its overall program of work.

For more background, read the executive summary of the initial Battelle report, an extensive analysis of the technology industry in our region and the basis for the RTA's efforts.