Ian Cain is Co-Founder and Executive Chairman of Qubic Labs in Quincy, Mass., which brings together people from business, government, and academia to fuel a global hub for blockchain technology, development, and innovation. He’s also a member of Quincy’s City Council, and has career experience in the private equity sector. Ian touched on his background and told MFN about some of Qubic Labs’ latest wins.
Q: What is Qubic Labs, and what role does it play?
A: Qubic Labs identifies, supports, and invests in entrepreneurs building mostly technology startups. Our technology verticals are primarily financial- and government-focused. Over the past few years, we’ve been developing a value proposition around supporting the development of the blockchain, digital asset, and Web3 ecosystem.
Q: How does your role as a city councilor influence or enhance this work for you?
A: It definitely enhances this work. The reason we started Qubic was that I had been a city councilor for a few years and had seen a lot of real estate development activity in Quincy. I wanted to see more commercial and innovation activity take place in Quincy, not just as a bedroom community. Historically, Quincy was a center for innovation, with businesses like Dunkin’ Donuts and Howard Johnson’s starting there. General Dynamics used to have a presence there. In the absence of these industries, we’re seeking a new identity for Quincy, which in recent years has been largely restricted to real estate development. We aim to create a space for the innovation economy.
Q: What brings you to this work?
A: I’ve worked in private equity and venture capital across various industries. I spent years acquiring and developing power plants in the Middle East, North Africa, and East Asia. I learned about world business, geopolitics, and finance. Then I got an MBA at Duke and returned to the Boston area, where I worked for a natural language processing tech startup, and ran for office after moving to Quincy.
Q: What values drive you and your work for Qubic Labs?
A: Most of this is personal fulfillment, tied to the public and private roles I play. I want to see Quincy be better and bring my global experience to the city. It’s about revitalizing Quincy’s industrial and innovation shine.
Q: Have there been any recent success stories or milestones for Qubic Labs?
A: In 2022, we received the first investment from the Commonwealth of Massachusetts made in blockchain—a $2 million grant to support the creation of a conceptual research, development, and commercialization program. We’ve been giving out $25,000 non-dilutive grants to startups and founders. We guide them toward business plan development and consider them for private investment. We’re also working to build a true ecosystem in blockchain, crypto, digital assets, and Web3 (the next iteration of the Internet). We’ve hosted Boston Blockchain Week, where founders, innovators, capital providers, and technologists come together. This year we had 75 speakers from California to Switzerland to the UAE. We’re stimulating energy and creating a global platform for this sector.