House Manufacturing Caucus: How Manufacturing Incubators Are Powering Growth Across America Posted 5/04/2018
mHUB CEO and Co-founder, Haven Allen, had the distinguished honor of representing mHUB in the House Manufacturing Caucus panel discussion on How Manufacturing Incubators are Powering Growth Across America on Friday, April 27th.
The House Manufacturing Caucus panel discussion and presentation highlighted how manufacturing incubators across the country are driving economic growth, reinvestment in urban and nonurban areas, workforce development and a powerful startup ecosystem. Hosted in collaboration with SecondMuse, the panel featured manufacturing incubator leadership from Greentown Labs in Boston, Futureworks in New York City, 43North in Buffalo, AlphaLab Gear Gear in Pittsburgh, Youngstown Business Incubator in Youngstown, and mHUB in Chicago. Success stories, incubation models and impact that can be leveraged in any city or region across the country were shared.
Manufacturing is a proven growth strategy for city, local and state governments: every $1 invested in the sector returns $1.89 into the economy as well as an estimated $3.60 multiplier effect. Incubators and accelerators helping local startups succeed, and attracting new ones, is the biggest differentiator of cities in the 21st Century. Incubation programs give startups the mentorship, tools and network they need to thrive - and a typical success rate for incubator and accelerator graduates is 80%+.