Biotechnology industry in Boston
Greater Boston, primarily Boston and Cambridge, is home to more than 1,000 biotechnology companies, ranging from small start-ups to billion-dollar pharmaceutical companies. The many universities in the area give the region a large network of scientists. The Kendall Square area of Boston holds a large concentration of the life science industry, numbering over 120 companies within a mile, and has been described as the "center of the nation’s biotechnology industry". The Longwood area is about two miles from Kendall Square, and is also home to many biomedical research companies. History. The biotechnology industry  in Boston dates back to the 1970s, when genetic engineering was developing. Biogen was the first company in Boston focused on biotechnology. In 2008, the governor of Massachusetts announced the Massachusetts Life Sciences Act, promising $1 billion to further the development of the biotech industry. Massachusetts is among the top states for biotech jobs. In 2016, venture investment in Massachusetts biopharma companies was $2.9 billion, and more than half of the biotech companies in the state receiving venture capital were located in Cambridge. When Cambridge and Boston were considered together, they received more than 80% of the funding  in the state. Seven teaching hospitals are located in Boston, contributing to the research efforts. Five of the top six NIH-funded independent hospitals in the United States are located in Boston.