Massachusetts has tapped veteran venture capitalist Eric Paley to serve as the state’s next Secretary of the Executive Office of Economic Development (EOED), marking a strategic move to reinforce its position as a global leader in innovation and entrepreneurship.
Governor Maura Healey announced the appointment as part of her administration’s ongoing focus on economic competitiveness, citing Paley’s deep experience in launching and scaling high-growth companies. As a co-founder and Managing Partner of Founder Collective, one of the world’s top-performing seed-stage venture capital funds, Paley has backed breakout successes including Uber, The Trade Desk, and Cruise Automation.
“Eric brings a builder’s mindset and investor’s precision to this role,” Governor Healey said. “His track record in helping founders navigate the earliest, and most critical, stages of growth makes him uniquely suited to support businesses, lower costs, and expand opportunity across the Commonwealth.”
Paley will begin his tenure in September, succeeding outgoing secretary Yvonne Hao. He joins the administration at a time when Massachusetts is sharpening its focus on affordability, innovation infrastructure, and economic equity.
“Massachusetts is overflowing with world-class talent, driven by top-tier research institutions, a thriving business landscape, and boundless entrepreneurial energy,” said Paley. “I’m grateful for the opportunity to build on these strengths and help shape the next chapter of our economic future.”
Lieutenant Governor Kim Driscoll emphasized the importance of Paley’s hands-on experience. “We’re excited to welcome Eric to Team Massachusetts. He knows what it takes to launch a successful venture, and that expertise will be essential for supporting businesses of all sizes across the state.”
Paley’s appointment reflects a growing national trend of integrating private-sector leaders with startup credentials into public policy roles. With over 25 years of experience in the innovation economy, his arrival is expected to accelerate public-private collaboration and position Massachusetts to better compete in sectors such as AI, life sciences, and clean energy.
As the Commonwealth looks to attract and retain high-growth firms, Paley’s leadership will play a central role in shaping economic development strategies that are inclusive, forward-looking, and innovation-driven.
