Massachusetts Next Generation Initiative

Program Overview

The MLSC is committed to a life sciences ecosystem that is diverse, inclusive, and equitable for all members of this industry. To ensure we continue to shift the paradigm, the Massachusetts Next Generation (MassNextGen) Initiative is building off the success of its first five years with a new iteration to support a larger pool of entrepreneurs with a broad, more inclusive focus.

Awardees of the program will receive a year-long customized package of support, which includes non-dilutive grant funding and access to a network of seasoned professionals from the life sciences ecosystem helping them to refine their business strategies and effectively raise capital. In addition, awardees will highlight their company to sponsors, awardees, and representatives of venture capital firms at the end of the program year in a “pitch” event.

The application period will run from March 18 – June 14, 2024 at 4 p.m. EST.

Eligibility & Evaluation

• The applicant Life Science company (“Company”) must be located in the Commonwealth of Massachusetts, registered to do business in Massachusetts, and have the majority of employees in the Commonwealth. A Certificate of Good Standing from the Massachusetts Secretary of State and Certificate of Good Standing from the Massachusetts Department of Revenue are required for the submission.
• The Company must be led by an underrepresented entrepreneur (“Applicant”) that identifies as: Arab American, Middle Eastern and North African American; Asian American, Pacific Islander, or Native Hawaiian; Black, African American, or Afro Caribbean; Female; Hispanic, Hispanic American, or Latinx/Latin; Indigenous, Native American, or First Nation; LGBTQIA+; Living with apparent or non-apparent disability; Neurodiverse; Refugee, Immigrant, or Migrant; Socially disadvantaged; Veteran or another underrepresented group in the CEO or equivalent position (e.g., President).
• The Applicant must be open to executive coaching, including receiving critique and feedback, and must commit to attending executive and business coaching sessions in MA throughout the year-long program.

Please view the full list of eligibility requirements and evaluation process.

Sponsors

Increasing the number of successful entrepreneurs is in the best interest of the entire life science industry, and as such, this initiative is a public-private partnership between the MLSC and our corporate sponsors.

In 2018, Takeda became MassNextGen’s Anchor sponsor as the first private partner to invest in the program. Their leadership and unwavering support to foster a more inclusive and diverse ecosystem continues with their commitment for this next chapter of MassNextGen.

Learn more about the MassNextGen sponsors and how your company can join the movement.

Resources

Sample Application

Eligibility Requirements and Evaluation Process

Deliverables, Confidentiality, and General Conditions

Business and Executive Coaching Session Format and Topics

Program Handout

R.E.D.: Research Equipment Database

D.A.T.A. (Databases, Algorithms, Tools, and Analyses) Repository

Awardees and Coaches

Impact on the Ecosystem

In 2018, MassNextGen launched with one goal in mind, to shift the paradigm to build a diverse ecosystem with equal representation. With the support from sponsors like Takeda, King Street Properties, Sanofi, Johnson & Johnson Innovation, Mintz, Mission BioCapital, and LabCentral Ignite, MassNextGen launched as a five year commitment to ensure greater gender parity in the next generation of life science entrepreneurs.

In the first six years, the MLSC deployed more than $2.5 million in funding to women entrepreneurs and provided over 200 hours of coaching from the elite executive mentoring/coaching network.

Now with 31 companies in the MassNextGen portfolio, the MLSC funding combined with executive coaching and business mentorship have proven invaluable for these underrepresented entrepreneurs in building their teams and progressing forward with new opportunities. The program continues to see tremendous success from previous awardees, including:

• 17 companies have raised a seed or series A financing round
• Companies have raised nearly $365 million in follow-on funding
• Companies employ in total 115 additional people
• There’s been nearly 90 coaching sessions
• Sponsoring organizations have reviewed applications from over 120 early-stage women led companies with an opportunity for follow on discussion

Connect with us to Learn More

If you have any questions regarding the application process, e-mail MassNextGen@masslifesciences.com.

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