Coral MLSC Primary Logo scaled 1
Search
Coral MLSC Primary Logo scaled 1

Program Tags: Early Stage Companies

Out-of-School Time Grant Program

Out-of-School Time Grant Program

Program Overview

The Massachusetts Life Sciences Center (MLSC) seeks to further the development and expansion of life sciences education and training for Massachusetts K-12 students by investing in impactful out-of-school time (OST) programs. The MLSC anticipates awarding transformational grants that enable non-profit organizations to implement new or expanded programming offered beyond the traditional school day, predominately serving underrepresented and/or low-income youth.

Investments made through this program seek to:

  • Reinforce, complement, and supplement life sciences education currently offered by public schools.
  • Provide students with new technical and professional skills development relevant for careers in the life sciences.
  • Expose students to state-of-the-art life sciences equipment, tools, and technologies.
  • Catalyze and grow innovative programming serving underresourced communities.

Applicants can request grant funding of up to $50,000 for program design and implementation costs, including personnel, operations, stipends, equipment, materials, supplies, and/or technology. Applicants will be asked to provide a detailed program description, plans for career awareness/exploration activities, identification of industry/community partners (and at least one letter of support), anticipated outcomes and evaluation plan, team qualifications, an itemized budget, and sustainability plan.

Eligibility & Evaluation

Applicants must be a non-profit organization with a presence in Massachusetts that are delivering OST programming relevant to the life sciences. K-12 public schools are not eligible to apply but can partner with a non-profit organization.

Funding must be requested for programs that:

Occur outside of the traditional school day (e.g. after-school, weekends, school vacation weeks, and summer).

Operate entirely within Massachusetts.

  • Primarily serve Massachusetts K-12 students/schools that meet any of the following descriptions:
    • Vocational technical high school as determined by Chapter 74 of the General Laws of Massachusetts.
    • Public school (including charter) located in one of the following “Gateway Cities” as determined by Sec. 3A of Ch. 23A of the General Laws of Massachusetts: Attleboro, Barnstable, Brockton, Chelsea, Chicopee, Everett, Fall River, Fitchburg, Haverhill, Holyoke, Lawrence, Leominster, Lowell, Lynn, Malden, Methuen, New Bedford, Peabody, Pittsfield, Quincy, Revere, Salem, Springfield, Taunton, Westfield, and Worcester.
    • Public school (including charter) with a student population of at least 25% classified as “low income” by the Massachusetts Department of Elementary and Secondary Education (DESE).
    • Tuition-free private school primarily serving low income/ underrepresented students.
    • Enrolled in the METCO Program, funded by the Commonwealth of Massachusetts to expand educational opportunities, increase diversity, and reduce racial isolation, by permitting students residing in certain cities to attend public schools in other communities that have agreed to participate.
    • Homeschooled residents of a “Gateway City” (as defined above) or a city/town where the public high school(s) has a student population of at least 25% classified as “low income” by DESE.
  • Prepare students with skills relevant for life sciences careers. The “life sciences” are defined in the MLSC’s enabling legislation as “advanced and applied sciences that expand the understanding of human physiology and have the potential to lead to medical advances or therapeutic applications.” Program activities/curricula and associated equipment, supplies, and technology should seek to enhance STEM skills relating to human biology/biomedical sciences, chemistry, engineering, robotics, and/or computer/data science that will prepare them for life sciences careers in sectors such as biotechnology, pharmaceuticals, medical device/technology, medical diagnostics, bioinformatics, and digital health. Activities related to the following are NOT eligible for funding: Earth and Space Science, Clean Tech/Energy, Environmental Science, Gardening/Botany, Veterinary Assisting, and Allied Health careers such as nursing and medical assisting.

Please read the full solicitation for more information about program eligibility and review criteria.

The deadline to apply for FY25 grants is February 13, 2025 at 5 p.m.

Resources

Solicitation

Application
Applicants are required to create an account prior to accessing the application. If you already have an account, please log in to begin the application.

Impact on the Ecosystem

The MLSC has awarded over $1 million in funding to non-profit organizations offering hands-on OST STEM programming. Grants provided essential resources for organizations serving underrepresented youth, enabling them to launch new initiatives/programs, build capacity, and/or expand geographic reach. The MLSC has also invested more than $28 million in equipment and professional development funding for 325 schools throughout Massachusetts.

Connect with us to Learn More

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

Angel Investor Tax Credit

Angel Investor Tax Credit

Program Overview

Thank you for your support and interest in the MLSC and its programs. Please be aware the Angel Investor Tax Credit (AITC) program has been repealed by Chapter 238 of the Acts of 2024, effective for the tax year starting January 1, 2024. Accordingly, we will not be accepting any further applications for this tax credit.

The MLSC will continue to run other programs that support early-stage companies and the entrepreneurs who lead those organizations. We invite you to our website where you may learn of our current and continuing programs that may be of interest or a benefit to you and/or your organization.

The Angel Investor Tax Credit program is offered to investors interested in funding early-stage companies engaged in life sciences research and development, commercialization and manufacturing in Massachusetts. The program provides a taxpayer investor a credit of 20% of the qualifying investment, or 30% if the business is located in a gateway municipality, in a business that has no more than $500,000 in gross revenues in the year prior to eligibility.

Credits are available up to $50,000 in any one taxable year for qualifying investments of up to $125,000 per qualifying business per year and up to $250,000 in cumulative qualifying investments for each qualifying business.

The deadline has now passed and applications are no longer being accepted. All applications received are currently under review and final decisions on awards will be communicated to all applicants after our Board of Directors meeting in late March 2024.

Eligibility & Evaluation

  • Taxpayer Investors must be “accredited” as defined by the U.S. Securities and Exchange Commission and may not be a principal owner of the business or involved in a full-time professional capacity.
  • Qualifying business must be registered to do business in Massachusetts, have 20 or fewer full-time employees at the time of the investment, and have $500,000 or less in gross revenues in the year prior to eligibility.
  • A qualifying investment is a monetary investment that is at risk and is not secured or guaranteed.

Interested applicants will be required to submit an online application. This is a two-step application process that includes information from the taxpayer investor and the qualifying business to meet the requirements for the Massachusetts Life Sciences Center to make an award. Please see sections 4-6 of the solicitation for more information regarding the application process and further details on the eligibility requirements.

Taxpayer investors that receive a tax credit award and the qualifying business in which they have invested are required to provide Annual Reports to monitor compliance.

A business that submits a successful application for early qualification as a Qualifying Business will receive an email confirmation from Massachusetts Life Sciences Center and will be posted on the Qualified Business List.

This certification solely means that MLSC has found that each business listed meets the qualifications specified in the regulations for the 830 CMR 62.6.5: Angel Investor Tax Credit and that each business is therefore eligible to participate in MLSC’s Angel Investor Tax Credit 2023 Program.

Resources

Solicitation

Investor Sample Application

Company Sample Application

Investor Sample Agreement

Company Sample Agreement

View the regulations for the 830 CMR 62.6.5: Angel Investor Tax Credit

Impact on the Ecosystem

To ensure the Massachusetts’ ecosystem remains favorable for investors, we are proud to offer this new Angel Investor Tax Credit to encourage investment throughout the Commonwealth and in our gateway municipalities. We are confident that such investments will create jobs, build a robust workforce, support women and minority-led companies, and propel the development of new therapies, devices, and scientific advancements that are improving patient health and well-being.

Connect with us to Learn More

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

Business Front Door

Team Massachusetts is excited to connect you with the latest and most relevant resources available for businesses. We’re here to support you every step of the way as your company grows. Through the Business Front Door, we can make your business journey in Massachusetts a successful one. Click here to learn more.

Seed Fund

Seed Fund

Program Overview

This program is not currently accepting applications.

The Seed Fund’s mission is to advance innovative and promising life science companies in targeted geographies throughout the Commonwealth by working with partners to leverage resources and promote economic development.

Individual investments of up to $250,000 in a convertible note will be awarded to life sciences start-ups, and up to $1 million of capital investment is available.

Eligibility & Evaluation

The Seed Fund is targeting life sciences companies broadly, which includes therapeutics, medical devices, diagnostics, and bioinformatics/digital health technologies.

Pre-seed to early-stage companies who have not yet raised their first priced round are encouraged to apply for this program.

To be eligible to apply, companies must be located in or intend to locate (with a significant presence or sound hiring/growth strategy) in one of the Seed Fund geographies: Amherst, Beverly, Lowell, Mansfield, North Adams, Springfield, Pittsfield, and Worcester.

At the time of investment, companies must:

  • Be physically located (with a year-long lease) in one of the Seed Fund geographies
  • Produce Certificates of Good Standing from the Department of Revenue and Secretary of State’s Office
  • Employ at least one full-time Massachusetts employee
    • Majority of employees must be employed in MA
    • Detailed offer letter for new FTE or a recent pay-stub indicating full time pay for a MA employee must be produce

Applications are accepted and reviewed on a rolling basis, and the evaluation will consist of a two phase process. In Phase I, submitted applications will be screened, and applicants will be notified within a month whether they will advance to pitch to the group or have an opportunity to schedule a feedback call.  If advanced beyond the pitch, companies will enter Phase II, which consists of deep due diligence over the next few months. All recommendations for investment are subject to approval from the MLSC’s Board of Directors.

Please Note: As part of the convertible note, the MLSC will include a Side Letter, which addresses supplemental language that may be absent from the Note Purchase Agreement. Common conditions include the following:

  • Information rights
  • Board Observer Role
  • Participation rights (a right but not an obligation to purchase its Pro Rata Share of any Equity Securities)
  • Representations (Bad Actor clause, Reps and Warrants, and MFN clause)
  • Put Right to maintain a physical presence in a Seed Fund geography
    • Majority of employees employed in incentivized geography
    • Clawback provision if failure to meet the Put Right

Resources

Informational Overview

Impact on the Ecosystem

The MLSC is pleased to launch its first-ever Seed Fund, which leverages a federal award from the Department of Commerce’s Regional Innovative Strategies Program.

The Seed Fund aims to provide up to $250,000 in convertible notes to early-stage life sciences companies who are located in particular locations to increase visibility of opportunities, highlight the regions resources, and promote economic development overall across the Commonwealth.

Connect with us to Learn More

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

Milestone Achievement Program

Milestone Achievement Program

Program Overview

The Milestone Achievement Program (MAP) was designed to address the needs of early-stage life sciences companies by providing grant funding to execute critical, value-creating technical milestones. This program aims to fill a gap within the existing funding environment to enable early-stage companies to attract additional follow on funding.

Impact on the Ecosystem

The MLSC recognizes that many innovative companies are a milestone away from reaching an inflection point to further the success of the technology and advance the company overall. 

In 2019, the agency awarded  more than $1.9 million in funding to 10 life sciences companies, located across six Massachusetts communities. 

Early-stage programming like MAP bridges the funding gaps associated with long life sciences R&D cycles. The Commonwealth’s support for early-stage activity helps ensure a diversity of entrepreneurs within the life sciences industry, while enabling new partnerships and collaborations, acquisitions, and continued talent recruitment.

Learn more about our 2019 Milestone Achievement Program awardees.

Connect with us to Learn More

If you have any questions regarding the application process, email: map@masslifesciences.com

Massachusetts Next Generation Initiative

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 has expanded to support a larger and more diverse pool of entrepreneurs.

Awardees of the program will receive a year-long customized package of support, which includes non-dilutive grant funding, lab bench at a sponsoring incubator, 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 “showcase” event to promote relationship building.

The application period will run from March 17 – June 13, 2024 at 1 p.m. EST.

Eligibility & Evaluation

  • 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 Life Science company (“Company”) and Applicant 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 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

Awardees
Learn more about the MassNextGen awardees and their company

Executive Coaches
Learn about the life science experts guiding the MassNextGen entrepreneurs

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 35 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 over 100 coaching sessions
  • Sponsoring organizations have reviewed applications from over 180 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.

Business Front Door

Team Massachusetts is excited to connect you with the latest and most relevant resources available for businesses. We’re here to support you every step of the way as your company grows. Through the Business Front Door, we can make your business journey in Massachusetts a successful one. Click here to learn more.

MLSC Brandmark scaled 1
©2024 Massachusetts Life Sciences Center, Inc. All Rights Reserved.
MLSC Brandmark scaled 1
Search

Terms and Conditions - Privacy Policy