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Confronting DeclineThe Political Economy of Deindustrialization in Twentieth-Century New England$
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David Koistinen

Print publication date: 2013

Print ISBN-13: 9780813049076

Published to Florida Scholarship Online: May 2014

DOI: 10.5744/florida/9780813049076.001.0001

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PRINTED FROM FLORIDA SCHOLARSHIP ONLINE (www.florida.universitypressscholarship.com). (c) Copyright University Press of Florida, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in FLASO for personal use.date: 16 September 2021

Small Business Finance and Electronics Spinoff Companies along Route 128

Small Business Finance and Electronics Spinoff Companies along Route 128

Chapter:
(p.160) Chapter 6 Small Business Finance and Electronics Spinoff Companies along Route 128
Source:
Confronting Decline
Author(s):

David Koistinen

Publisher:
University Press of Florida
DOI:10.5744/florida/9780813049076.003.0007

Steps to improve the financing for small New England companies, together with developments in electronics, paved the way for a burgeoning new area industry. Electronics was a key growth sector in the mid-twentieth century. In the industry’s advanced segment, a new type of company arose as technical personnel left established research organizations to set up their own “spinoff,” or startup, firms. The Boston area was originally a spinoff center of secondary importance. But by the early 1960s, Boston’s “Route 128” had become the leading locus of technologically advanced industry. Spinoff companies near Boston outpaced their competitors elsewhere in part because of the greater support they received from local financiers. New England venture capitalists invested in some early Boston spinoffs. More importantly, the First National Bank of Boston and other commercial banks provided loans and other assistance. Financiers assisted the spinoffs in a conscious attempt to develop new regional industry.

Keywords:   electronics industry, spinoffs, startups, small business finance, Route 128, venture capital, First National Bank of Boston, commercial banks

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