Small Business Matching Grant (SBMG) Program
The Massachusetts Life Sciences Center is pleased to announce the launch of its FY12 round of the Small Business Matching Grant (SBMG) Program. This program reflects the Center’s ongoing commitment to supporting early-stage life sciences companies that will grow employment opportunities, promote manufacturing and commercialization, and stimulate innovation across the Commonwealth. The Center is targeting an FY12 investment of $3 million in the Small Business Matching Grant Program.
The primary objective of the Small Business Matching Grant Program (SBMG) is to provide grants to commercialization-ready life sciences and technology companies that have received at least the equivalent of a Phase II Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) grant from federal agencies such as the National Institutes of Health (NIH), National Science Foundation (NSF), Department of Defense (DOD), etc.
Grants will provide matching support capped at $500,000 per company to Phase II or Post Phase II SBIR or STTR grants already awarded to applicant companies. Through the SBMG Program grants, the Massachusetts Life Sciences Center will help companies that have developed now commercialization-ready technologies reach production and create jobs in the Commonwealth. Through two rounds of this program, we have awarded seven (7) companies three million five hundred thousand dollars ($3.5M).
Target applicants are emerging life sciences companies whose products are production-ready and have high potential for market adoption and penetration, are poised for rapid growth that will create jobs in the Commonwealth, and are positioned for additional financing.
Applicant companies to the SBMG must meet the following criteria:
- Must have been awarded a Phase II, post Phase II, or equivalent small business innovation research (SBIR) or small business technology transfer (STTR) grant from a federal agency within the prior seven (7) years, 2005 through the application deadline of February 10, 2012.
- Must be small businesses, as defined by the U.S. Small Business Administration (SBA). See http://www.sba.gov/contractingopportunities/officials/size/index.html to determine if your company qualifies as a small business.
If you meet any of the following criteria, you are not eligible to apply to this program:
- You received funding under the MLSC’s SBMG program.
- You received funding under the MLSC’s Accelerator loan program.
- You have raised $10 million or more in total equity financing.
- You are majority owned (greater than 50%) by a parent company that is an operating or holding company and have raised $10 million or more in combined total equity and/or debt financing independently or from its parent.
- You are majority owned (greater than 50%) by a parent that is an investment company, investment partnership, or investment fund and have received $10 million or more in financing from your parent.
The solicitation period for applications is January 4 – February 10, 2012 at NOON (EST). All applications must be submitted online using the link below. The Center will not accept any applications submitted by any other means. The Center encourages applicants to read the program solicitation, FAQ and sample grant agreement (see below) prior to applying to the program.
The Center anticipates that awards will be announced by the end of May 2012, pending approval by our Board of Directors.
The Center will be holding information sessions for the Small Business Matching Grant Program as follows:
Waltham: |
Wednesday, January 11 at 9:30 a.m. |
1000 Winter Street, South Entrance, Suite 2900, 2nd floor *note new location |
Lowell: |
Wednesday, January 18 at 10:00 a.m. |
UMASS Lowell/M2D2, 600 Suffolk Street |
Worcester: |
Friday, January 20 at 10:00 a.m. |
WPI, 60 Prescott Street, 1st floor |
Waltham |
Monday, January 23rd, 3:30 p.m. |
1100 Winter Street, Center Entrance, 1st floor |
Boston |
Thursday, January 26th, 10:00 a.m. |
MassMEDIC, 715 Albany Street |
We require an RSVP for the information sessions above and ask that you please provide contact information in the event of cancelation of the session due to inclement weather. Please send your RSVP to sbmg@masslifesciences.com
Information Session Presentation >>
Sample Grant Agreement Template >>