Worcester Business Journal

wbjournal.com | March 18, 2024 | Worcester Business Journal 7 Making Community Connections for Opportunities to See. Believe. Achieve. Putt with a Purpose! Register Now! Scan the QR Code or visit sevenhills.org/nbgolf Contact Bill Stock to get involved: bstock@sevenhills.org, 508.983.1305 The New Beginnings Charity Golf Tournament is a major fundraiser for Community Connections, a program that supports thousands of people with disabilities to participate in activities that develop skills, encourage interests, build friendships, and promote overall health and well-being. Your support of New Beginnings is critical to securing families' connections across central Massachusetts. Thursday, May 23, 2024 Register as a Golfer or Sponsor 9:30 a.m. Shotgun Start Lunch, Prizes, Raffles Highfields Golf & Country Club Grafton, MA 36 36 th th PUTT WITH A PURPOSE W Electric Hydrogen has more than 300 employees and has raised more than $600 million in funding since it was founded in 2020. Worcester chamber creates $2.5M fund for economic development e Worcester Regional Chamber of Commerce has launched a strategic opportunity fund to use for economic development and workforce initiatives through the its nonprofit foundation. e chamber has raised $2.466 million from contributions and commitments for the Linda Salem Pervier Permanent Restricted Fund, against the goal of raising $3 million by the end of 2025, which is the chamber's 150th anniversary. e fund is named in honor of Linda Salem Pervier, the chamber's vice president of membership development and finance, who has worked for the chamber for 50+ years. e money from the fund can be used for one-time initiatives, projects, and consulting services to aid in the economic development or workforce needs of Central Massachusetts. Worcester entrepreneur support organization seeks to turn city into global startup hub A Worcester-based not-for- profit is launching a series of new entrepreneurship-focused initiatives, with the intent of helping turn the city into a globally competitive startup hub. e Venture Forum, an independent volunteer-led organization founded in 1991, will start a number of new initiatives for 2024, including a program seeking to match early stage startups with mentors, a business development resource platform, and two separate pitch competitions, according to a March 6 press release. "We believe that Worcester has the opportunity to become a globally competitive startup hub," Zachary Dutton, executive director of Venture Forum, said in the press release. "As part of achieving that vision, we are growing and developing new programs intended to serve as catalysts for local entrepreneurs, enabling them to access mentorship, capital, and talent." Venture's Mentor Match Program is an eight-week initiative connecting startups with experienced mentors who offer support with business plans and capital raising. Venture's first cohort is currently running, with a second cohort planned for later in 2024. As another means of supporting startups, Venture has created Launch Worcester, a new free online platform connecting young companies with business development resources available in Greater Worcester. Participants can utilize the platform to access resources and information regarding available resources, jobs, and potential mentors. Venture's 2024 pitch competitions will be the WooTank Intercollegiate Showdown and the 5 Minute Pitch Competition. WooTank is a new competition featuring top student entrepreneurs from Central Massachusetts colleges competing to receive funding from local angel investors. e 5 Minute Pitch Competition will feature scalable startups competing for the opportunity to win non-dilutive seed funding. is is the third year in a row Venture has hosted the 5 Minute Pitch Competition. Most housing proposals will be completed Housing developments with dozens, or even hundreds, of planned units have been proposed throughout Central Massachusetts over the last 10 years. However, as construction costs have risen and the price of borrowing money remains high, some of these projects have been delayed, such as the proposed Table Talk Lofts development in Worcester. Still, though, the issues surrounding real estate developments haven't stopped new developments from being proposed, with a new 26-unit complex proposed for Worcester on Feb. 23. When polled online, the majority of WBJ readers said at least half of these projects will end up being built, despite the headwinds facing the industry. What percentage of proposed Central Massachusetts housing developments will come to fruition? 100%, but with significant delays 10% 1% - 100% More than half 44% Less than half 36% Less than 25% 8% READER COMMENT "Not surprised, are we? This is all part of the real estate cycle." - Robertson Construction Linda Salem Pervier (center), the Worcester chamber vice president, poses with Gov. Maura Healey and Salem Pervier's husband Michael at a chamber event on March 7. PHOTO | MATT WRIGHT

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