It’s almost time to kick off a new year, and we’re already thinking ahead to the 23 companies we’ll be watching in 2023.
But before we leave this year behind, let’s take a look at some of the top tech and startup stories from 2022.
Forget work perks. Boston’s young people want a city nightlife.
With in-office work schedules still in flux due to the pandemic, Boston has had to raise its game to attract young talent back into the city. Boston isn’t known for its nightlife, or venues and activities that represent the city’s diverse population. But the Wu administration worked to change that in 2022.
One of its tactics was through the hiring a “late-night czar.” BostInno broke the news earlier this year that the city was in the process of hiring a director of strategic initiatives to help make the city’s recreational economy more vibrant and inclusive. At the time of publication, the city said it was finalizing the interview process for this position and expected to announce its new hire in the coming weeks.
Young tech workers who spoke to BostInno said that while they’re seeing signs of change, with more inclusive and interactive events popping up that cater to young people, others said the city just isn’t evolving fast enough to keep them here.
A city known for its sports teams is home to a growing sportstech scene.
Never mind the Red Sox, Celtics and Patriots. Let’s talk about companies like Whoop, Hydrow and Nix.
Such "sportstech companies" are becoming big names in the industry, with this year bringing new funding for the rowing machine company and an expansion into brick and mortar for the wearable tracker tech unicorn. But even they haven’t been without their challenges. Both companies made layoffs this year.
New players are also entering the scene. Nix Biosensors is a Boston startup that recently launched its wearable biosensors that analyze user’s fluid and electrolyte losses during exercise.
Investors are hot on plant-based meat alternatives that push the envelope.
Outside the big names like Impossible Foods and Beyond Meat, much of this plant-based innovation is centered in Greater Boston. And the area’s entrepreneurs are developing meat alternatives that go beyond ground beef and chicken nuggets.
Somerville-based Tender Food is making products that replicate the structures and textures of whole muscle cuts from animals. This year the company announced a $12 million seed round led by Chris Sacca’s Lowercarbon Capital.
High Time Foods, a Techstars Boston startup, is bringing its plant-based minced chicken to local restaurants like Boloco. The product is shelf-stable and preservative-free.
And Motif FoodWorks recently launched its plant-based beef, pork and chicken burger patties. The company has new capital from FootPrint Coalition Ventures, a firm co-founded by actor Robert Downey Jr. Motif is also engaged in a legal battle with Impossible, which sued the Boston startup, saying its fake meat too closely resembled Impossible's patented version. Motif is trying to revoke this U.S. patent.
Tough tech gets new support.
Tough tech startups face big obstacles to get off the ground. These companies, which are doing science and engineering work in areas like biology, industrial design or quantum computing, require more space and facilities than your typical software company. Investors can also be more wary because the returns on these companies don’t come as quickly.
This year saw universities, venture groups and accelerators investing heavily in filling that gap. Harvard University launched The Grid, an accelerator to help Harvard researchers and students turn their research into tough tech startups. MIT’s The Engine opened a new Cambridge headquarters with labs, workshops and capital-intensive tools. Intel Corp. brought its Intel Ignite accelerator for deep tech startups to Kendall Square. And MassVentures began deploying funds from its $20 million fund from the U.S. Department of Treasury to fund deep tech startups.
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