MassVision2050: Massachusetts Innovation Sectors
MassVision2050 zeroes in on key innovation sectors likely to drive employment and economic growth in the coming decades. Presenting annual updates to our Innovation Sector data, we have set the stage for robust, fact-based recommendations tailored for public, private, and academic leaders. This first-of-its-kind endeavor explores market size, talent needs, and growth opportunities across nine innovation sectors crucial to Massachusetts’ success over the next 20-30 years:
Blue Technology/Maritime Innovation (Blue Tech)
Clean Energy & Clean Technology
Financial Technology (FinTech)
Health Technology (Health Tech)
Life Science Innovation
While examining these sectors the following considerations and cross-cutting topics were kept in mind:
Future of Work: Talent Needs & Strategies
Supply Chain Enhancement
Transportation Technology & Advanced Mobility
MassVision2050 Innovation Sector Member-Led Initiatives
The Innovation Sector workstream extends beyond theory to actionable ventures driven by the expertise of High Tech Council member organizations. These initiatives assemble public, private, and academic experts, forming collaborative working groups focusing on actionable projects, including:
Innovation Sector Fact Packs
Led by Knowledge Partner McKinsey & Company, the Innovation Sector Fact Packs are foundational to MassVision2050’s initiatives. Updated annually, this effort produces a nuanced fact base for the nine innovation sectors, exploring the market size, talent needs, and growth opportunities across each sector.
Cybersecurity Collaboration Community (CCC)
Launched with leadership from MKS Instruments, the Cybersecurity Collaboration Community (CCC) is a collaborative platform for Chief Information Officers and cybersecurity experts representing High Tech Council’s member organizations to share expertise, insights, and best practices to collectively enhance cybersecurity capabilities and enable resilience against evolving cyber threats.
FinTech Innovation & Research Center (FIRC)
A team of High Tech Council members are advancing the launch of a collaborative FinTech Innovation & Research Center (FIRC). Our goal is to accelerate growth in Massachusetts by focusing on AI for fintech. AI/ML applications are a driver of growth. FIRC can capitalize on that potential by accelerating that growth through applied research, development and policy evaluations. This project will bring together the most innovative minds in AI/ML, Finance, Law, and Technology, both from industry and academia, to leverage research and technology to address the current inefficiencies in the world of finance with a target to improve financial equality.
The Impact of AI in Healthcare: Analysis & Recommendations
AI has the potential to revolutionize healthcare by accelerating innovation, improving patient outcomes, and addressing current challenges in cost, quality, and access to care, while alleviating healthcare workforce shortages and burnouts. Led by the Boston Consulting Group, this endeavor aims to assess the impact of AI on the healthcare sector in Massachusetts, spanning from Biotech and Biopharma to MedTech and Health Services. The project will articulate implications on workforce development, laying the foundation for a future-ready healthcare workforce.
Massachusetts Microelectronics Coalition Expansion
A successful effort led by the MITRE Corp and Analog Devices, we will amplify engagement by Massachusetts microelectronics employers and boost state grant funding to support the regional hub in Massachusetts (one of eight national hubs) awarded by the U.S. Department of Defense in September 2023 as part of the implementation of the CHIPS and Science Act.
Amplify Awareness & Engagement in MITRE’s BlueTech Research Center
The MITRE BlueTech Lab is a state-of-the-art, indoor maritime test facility and collaborative laboratory for innovators and researchers to advance marine technology, strengthen climate resilience, and increase national security and safety. MITRE’s BlueTech Lab is a testing facility that enables the regional BlueTech innovation community to rapidly prototype new technology quickly and safely.