The Massachusetts Life Sciences Center (“MLSC”), in line with its mission to support life sciences innovation, R&D, and commercialization is pleased to issue this Solicitation, for interested parties to apply for the new Massachusetts Next Generation Initiative (“MassNextGen”).
Donor Name: Massachusetts Life Sciences Center
State: Massachusetts
County: All Counties
Type of the Grant: Grant
Deadline: 05/18/2022
Size of the Grant: $537,500
Grant Duration: 1 year
Details:
MassNextGen is a 5-year >$2M initiative to provide support to women entrepreneurs in order to develop a diverse generation of life science entrepreneurs. Each program round will consist of a competitive process to identify women entrepreneurs leading early-stage life science companies that will receive a year-long package of support including grant money and executive coaching. Specifically, this year’s competition will award:
- Up to $537.5K in grant money to invest in women-led, early-stage life science companies; MLSC has the sole discretion to decide the number and size of award(s) based on the quality of applicants
- Executive coaching from a network of seasoned entrepreneurs and life science investors;
- Visibility within the life science industry including press and media coverage of company and entrepreneur
Grant Period
- The Center will provide select awardees a grant to be utilized over a period of no more than twelve months.
Eligibility Criteria
Each year, following a competitive program, women-led early-stage life science companies will receive a yearlong customized package of support, which includes non-dilutive grant funding and access to a network of seasoned Executive Coaches. Throughout the year, the winners will work to refine their business strategies and build a toolkit to more effectively raise capital.
- The applicant company (“Company”) must be located in the Commonwealth of Massachusetts and registered to do business in Massachusetts.
- The Company must have the majority of its FTEs (full-time-equivalent employees, >35 hours per week) based in Massachusetts and must have a minimum of 1 FTE.
- The Company must have a life sciences focus with core technology and/or service in biotechnology, pharmaceuticals, medical devices, medical diagnostics or imaging, bioinformatics, digital health, agricultural biotechnology, chemical synthesis and/or technology, genomics, marine biology or technology, nanotechnology, drug delivery, proteomics, regenerative medicine, and/or veterinary science.
- The Company must be led by a woman in the CEO or equivalent position (e.g., President).
- The woman CEO or equivalent must be open to executive coaching including receiving critique and feedback and must commit to attending executive coaching sessions in MA throughout the year-long program.
- The Company must be in compliance with all other Center agreements if any.
For more information, visit Massachusetts Next Generation Initiative.