"There is often a migration to start-ups, because of their potential and things like stock options and benefits," Austin said.
Along with many companies that stay in the area after growing out of the two universities, Cambridge is home to many established companies now facing start-up competition.
Lotus Development Corporation, which was founded in Central Square, is one of the largest software firms in the country.
The company, which employs over 1,700 workers, is the biggest company in Cambridge.
"They are a major employer," Strain said.
Even with high-tech expansion at Harvard and MIT, Cambridge officials maintain that the city does not make a conscious effort to attract new technology.
"Our main strategy is to grow from the inside," Strain said.
And with the resources of MIT and Harvard, that growth is likely to continue for years.
Read more in News
Someone Still Likes You: DateSite Docs Plan ComebackRecommended Articles
-
At OCS, a Focus on Start-UpsWhen Bill Gates, Class of 1977, left Harvard after his sophomore year to found his own computer software company--now known
-
Draper Lab Retains MIT ConnectionThis is the second in a two-part series. Although the Massachusetts Institute of Technology (MIT) formally disassociated itself from Draper
-
MIT AppointmentsChristopher T. Walsh '65 and Ernest G. Cravalho recently became associate directors of the Whitaker College of Health Sciences, Technology,
-
Revolution in a Blue ApronForbes magazine recently released a list of the world’s billionaires—they also publish a list of the richest people in the
-
MIT-Related Firms Driving Biotech IndustryCambridge (AP)--The booming field of biotechnology can trace much of its success to research and graduates of the Massachusetts Institute
-
MIT Chooses New PresidentThe Massachusetts Institute of Technology (MIT) Corporation yesterday elected Paul E. Gray, MIT's chancellor since 1971, as the MIT's 14th
