A Seed Ecosystem is Growing in the Northeast

Startup cultivation in the northeast is hitting an inflection point. A strong root system is taking shape given the increased level of seed-focused activity across the industry.

In the first few days of June, over a period of about 36 hours, the Microsoft NERD Center in Cambridge showcased a slew of fresh startups, from Angel Boot Camp, to the Angel Capital Association meetup, to TechStars Demo Night. These events drew hundreds of experienced, emerging and aspiring seed stage investors.

In the weeks following, we’ve seen announcements regarding collaborative workspaces that house and nurture new ideas, from Jon Pierce regarding the expansion of Betahouse, and Bill Warner about the Anything Goes Accelerator Lab at the Cambridge Innovation Center, which is also hosting The Venture Cafe. Polaris’ continues to offer desks to entrepreneurs at Dogpatch Labs.  Young entrepreneurs like Kevin Vogelsang are opening up space as well.

More activity is on the horizon, with Dogpatch hosting Jason Calcanis’ Open Angel Forum this Friday, MassChallenge kicking off its accelerator program, and the upcoming Momentum Summit, where experienced entrepreneurs will coach others on turning ideas into big businesses.

These efforts are driving education and awareness amongst a broader crop of seed stage investors, from individual angels, to seed funds, to later stage venture capital funds that are now allotting more capital to seed.

The area’s foundational seed investors like Common Angels, GoldenSeeds, HubAngels and LaunchPad have been joined by Launch Capital, Founder Collective, Google Ventures, Hacker Angels, and if the rumors are true, another incredible team of angels:). Investors like Phin Barnes from Philadelphia-based First Round Capital and Jay Levy from NYC-based Zelkova Ventures are spending more time in the area as well.

Traditional venture capital firms like SoftBank Capital, where I work, are also increasing their seed efforts.  Our new fund’s primary focus is on seed and Series A investment opportunities.

As a firm based in both Boston and New York, we are excited to see similar activity in Yankees country, with more emerging firms like Genacast, IA Venture Partners, and Lerer Ventures supporting very early stage companies.

With entrepreneurs building more on less in today’s environment, the time is ripe for seed stage investing. The broader industry has taken notice and a stronger seed ecosystem is forming. Completing my metaphorical overdose, I’ll state that I expect a bountiful harvest over the next few years in the northeast.