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Oct. 29, Day 8 (8 days to go): The Innovation Fund

With Election Day 16 days away, we launched a new feature: 16 reasons in 16 days. From now until Election Day, we’ll be unveiling 16 reasons to reelect Tom Sannicandro on Nov. 6.

With Election Day 16 days away, we launched a new feature: 16 reasons in 16 days. From now until Election Day, we’ll be unveiling 16 reasons to reelect Tom Sannicandro on Nov. 6 as state representative.

Oct. 29, Day 8 (8 days to go): The Innovation Fund

The Innovation Fund was the signature piece of the 2012 Jobs Bill. Tom Sannicandro authored that section of the bill.

Massachusetts’ economy--particularly in the MetroWest--is built on innovation, research, and technology. Increasingly, this research is being done by universities, often in collaboration with private companies.

This research makes its way into the private market in the form of new medicines, digital computer technologies, assistive technologies, or other cutting edge innovations and developments. Some research projects spin off entirely into new start-up companies.

Some companies that rely on this kind of research include MathWorks in Natick, Caliper Life Sciences in Hopkinton, Genzyme in Framingham, and BioSurfaces in Ashland. UMass Medical School alone has 196 licenses with 110 private sector companies. There are thousands of others across the state.

The Innovation Fund is a $50 million matching grants program. For every $3 in private or federal investment a university research project receives, the Innovation Fund contributes $1. This is important, since matching grants are often a consideration in whether a project receives funding. As such, the fund will attract $150 million in outside investment.

Tom Sannicandro believes investing in innovation is smart, because it propels the economy forward. Tom Sannicandro has demonstrated an understanding of how to leverage state dollars creatively to capitalize on the state’s best asset: brainpower. If reelected, Tom Sannicandro will continue efforts to ensure the jobs of tomorrow are created in Massachusetts.

Previous entries:

Oct. 28, Day 7: Tom Sannicandro connects out-of-work employees with real jobs

Oct. 27, Day 6: Ashland State Park reopening

Oct. 26, Day 5: Tom has helped deliver state resources for local projects

Oct. 25, Day 4: Inclusive Concurrent Enrollment

Oct. 24, Day 3: Tom was born and raised in Framingham, and has lived in Ashland 26 years

Oct. 23, Day 2: Tom Sannicandro supports local schools

Oct. 22, Day 1: Let's pass the Updated Bottle Bill

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