Marketing the N2 Innovation District to Israeli Companies
What is the N2 Innovation District?
The N2 Innovation District is an area of roughly 500 acres along the Newton-Needham line which includes the Wells Avenue office park in Newton, Needham Crossing office park, and adjacent commercial streets. The area is home to many innovation economy sector businesses as well as educational institutions, recreational areas, restaurants, pubs, hotels and retail shops.
TripAdvisor’s new world headquarters is located in N2 as well as PTC, SharkNinja, Verastem, CyberArk, Big Belly Solar, Karyopharm Therapeutics and many others. And the N2 Innovation District is expected to expand further in the next few years with plans to add more than 700 units of workforce housing as well as improved roads, bike lanes and sidewalks.
Why is N2 focused on attracting Israeli companies?
According to a recent Babson report, approximately 250 Israeli companies in the Commonwealth employ roughly 7000 people and generate nearly $7 billion in revenue. These companies, which are growing faster than the state’s economy by 3 to 5 times, are primarily in the IT, life sciences, and energy sectors. The Newton-Needham Regional Chamber has established a N2 Innovation District Task Force to focus on the area and a subcommittee to leverage the growing MA-Israel economic relationship.
The goal is increase the number of Israeli businesses in the N² Innovation District through a targeted marketing effort that highlights its unique advantages and to better serve existing companies that have Israeli roots. The Task Force is committed to helping Israeli entrepreneurs by introducing them to commercial realtors, assisting with permitting and licensing, helping them meet their Israeli neighbors, and advocating for improved transit and infrastructure.
Why might the N2 Innovation District be attractive to Israeli companies?
- Location - 10-15 minutes from Boston, near the intersection of Mass Pike and Rt. 128
- Price - much more affordable than Boston or Cambridge
- Class A amenities
- Highly educated workforce
- Jewish cultural, religious, and social resources
- Space available for businesses to grow
- Great place to raise a family while still being close enough to enjoy all the benefits of Boston
What Israeli companies are already located in the Innovation District?
- Centerity Systems – software products which help businesses monitor and report on the health of their IT infrastructures
- CyberArk - cyber security firm
- Karyopharm Therapeutics - clinical-stage pharmaceutical company focused drugs for the treatment of cancer and other major diseases.
- Intigua - virtualization company
- Kaminario - data storage company