Watch out, world – Beantown is coming for you. A recent study by real estate services firm CRBE, titled “2016 Scoring Tech Talent,” found that Boston is the tech industry’s No. 1 talent exporter. The city is fueling a good portion of tech growth in San Francisco, but at home, Boston universities are generating more degrees than local jobs.
Below are additional top stories from the Boston ecosystem:
Boston-based startup HourlyNerd doesn’t just want to be an on-demand staffing service; it wants to disrupt the hiring decisions of large companies altogether. The startup announced a $22 million Series C round led by General Catalyst Partners, with participation from multiple other investors, including Highland Capital Partners and Mark Cuban. Previously, the company had raised a total of $12 million.
Startup Lectro creates bikes that supply supplemental pedal power through electric motors, making it possible to zip through Boston streets even faster. Columnist Scott Kirsner’s overview of startups making recent waves also includes Spike Aerospace, Greensight Agronomics, eGenesis, MyOnCampusChef, Hylux, Cookin and Spyce Kitchen.
In Boston, where there’s a rotating door of real estate relocations, professionals don’t always want to lock into an apartment lease. That’s why startup Let’s Sub has created a “swipe left, swipe right” matching platform for finding dream sublets. Founders Jeremy Hefter and Sonia Brown created the company based on personal experience, citing how entrepreneurs can struggle with finding apartments when strapped for cash.
New biotech startup Morphic Therapeutic launched with the goal of beating big-pharma drugs. With heavy initial investments from Polaris Partners and Tim Springer, a pioneering immunologist researcher who discovered the technology in the 90s, the company raised $52 million in a Series A round. The startup is first tackling drugs that treat fibrosis and an inflammatory bowel disease.
Millennials and tech workers both value access to public transportation – one reason why a city like Boston is so attractive to such demographics. The recent 9 percent increase in MBTA fares threatens this trend. The fare increase has irritated commuters that spurn carbon-emitting transportation, and it affects the wallets of those who rely on the subway as their primary transportation. While the influx of funds is sorely needed by the MBTA, the modest increase does nothing to eat into the organization’s $8 billion in debt.
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