On October 18th, the Smaller Business Association of New England held its 2012 Annual Meeting at the Westin Hotel in Waltham, MA. As part of the meeting each year, SBANE selects recipients for its “Profitable Connections Award”, an award given to member companies that successfully collaborated with SBANE in identifying a successful financial or matchmaking solution to a current challenge or opportunity. This year, eleven companies were presented with the award including MBBP client Metamagnetics, Inc., a research and development company focused on developing innovative microwave materials and device solutions in the areas of radar, communication, sensing and other high frequency electromagnetic technologies.
Earlier this year, Metamagnetics was announced as a winner for MassVentures 2012 “START” Program, a $6 million initiative to help growing companies commercialize technologies developed under Small Business Innovation Research (SBIR) contracts. As one of ten winners, Metamagnetics was awarded $100,000 and, based on future progress, could possibly receive up to a $500,000 investment after two years. Jerry Bird, President of MassVentures had this to say of the awards:
This year’s winners are a strong indicator of the depth and breadth of innovative technologies coming out of the Commonwealth to support the economy and job growth.