Merrimack Valley to Become Silicon Valley

12/10/2010
By By Lyle Moran, Lowell Sun

LOWELL -- Picture the Merrimack Valley teeming with hundreds of new small, high-tech businesses and gaining a reputation as the Silicon Valley of the Northeast.

A group of high-profile local business, education, government and nonprofit leaders think that lofty vision is possible and are pooling their financial and human resources together to revitalize the economically sluggish region by positioning it to become one of the leading economic hubs in the nation in the coming years.

The new partnership unveiled by the leaders yesterday, the Merrimack Valley Sandbox, will work to foster a stream of small businesses that can help create thousands of new jobs in the area and address long-standing social issues, such as homelessness, with new approaches.

The Stoneham-based Deshpande Foundation has donated $5 million to be spent over five years to fund this initiative and create the Merrimack Valley Center for Innovation and Entrepreneurship at UMass Lowell that will be the home base for the partnership.

Read the entire story on the Entrepreneurship Center.