Five Questions With: Barbara Finer

Barbara Finer is the founder and CEO of TechSandBox, a science- and technology-based startup incubator based in Hopkinton, Mass., that recently closed its doors due to a lack of funding from area companies. Finer talks to Providence Business News about the decision and her experience in the local startup community.

PBN: How was the decision reached for TechSandBox to close its doors?

FINER: The business model for industry associations, incubators and the like are typically either based on memberships or sponsorships. Ours was intended to be a mix. The value to sponsors is usually association with thought leaders, leads, and good will.

Since we were the only entity in a region rich with (tech) talent, we thought that the local corporations would jump at the chance to help drive local economic growth as well as contribute to the growth of innovation in their own region. We also thought that since every town (said they) wanted an incubator, we’d get financial support from those we served – 15-25 of them.

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Neither happened.

The founder (me), the property owner and a few local service providers contributed money but not enough to pay the bills that a 9,000-square-foot innovation center required. The large, local corporations put their support in to Boston/Cambridge/Somerville. The towns didn’t contribute either.

PBN: Looking back, how would you evaluate TechSandBox’s success in achieving what it set out to do?

FINER: Successes were significant and measurable:

  • We gathered a lot of volunteers, a facility and the momentum to open
  • Directly helped over 50 startup companies and indirectly helped dozens more; several received funding
  • Efficiently connected resources together
  • Ran over 300 educational programs that brought people together to learn, network and grow
  • We instigated attention for innovation outside of the urban centers, which will significantly help other entities in the future (and are in the process of giving away $250,000-plus of furniture and equipment to others)

PBN: What are some of the lessons or insights you’ve taken out of your experience with TechSandBox?

FINER:

  • Innovation can and does happen everywhere
  • Geographies create artificial boundaries (we’re a bit parochial in New England)
  • Fads push people to making poor business decisions for the long term
  • There are more people with the desire and market knowledge to start and grow companies than get the chance due to artificial boundaries and fads
  • It takes a village (or 25)

PBN: Are there any particular success stories from TechSandBox that stand out to you? What do you see as the incubator’s legacy?

FINER: Successes are many and include Trilio Data, Content Raven, PetCause Media, Drone Life, Connected2Fiber, InEye Technologies, KBioBox, Next Shift Robotics and many others who got the chance to create revenue, attract funding and scale!

PBN: Do you have plans to continue your involvement in the entrepreneur and startup community going forward?

FINER: Oh yes! In addition to looking for a role as an outside board member, I’m looking for a tech startup that needs a CEO or [chief operating officer] to help grow, creating a healthy culture and focused team!

Kaylen Auer is a PBN contributing writer.