Advanced ferrite-based solutions provider, Metamagnetics, receives MassVentures START Stage I and Stage II funding, focused on supporting early-stage, high-growth companies to commercialize its technological innovation
Canton, MA - 11/20/2013
MassVentures, the venture capital arm of the Commonwealth of Massachusetts, named Metamagnetics as one of 10 winners of the 2013 START program. START is a $6 million initiative to help growing companies commercialize technologies developed under Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) contracts. Selected from more than 90 applicants, Metamagnetics received a grant of $100,000 under the 2013 Stage I program for its high frequency self-biased circulators. This is the second Stage I award for Metamagnetics. In 2012, the company won for its high frequency power cores program. Based on its success towards commercialization with the 2012 Stage I grant, it was one of five companies to receive a follow-on $200,000 START Stage II grant.
Elaine Trudell, Chief Operations Officer and President of Metamagnetics, said, "We're very pleased to receive a Mass Ventures START Stage II award for our power core technology and a new Stage I award to develop cost-effective, self-biased ferrite circulators. These innovative technologies have broad commercial applications, and these awards provide critical funding and tools to help us capitalize those market opportunities. The START awards, along with our recent SBIR wins and continued contract R&D work are keys to our trend of steady growth and success as an early-stage, high-tech company."