The Small Business Matching Grant Program is targeted at commercialization-ready life sciences companies that have received Phase II or Post Phase II small business innovation research (SBIR) or small business technology transfer (STTR) grants from federal agencies such as the National Institutes of Health (NIH), National Science Foundation (NSF), Department of Defense (DOD) or equivalent. 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. To be eligible companies must be a small business as defined by the U.S. Small Business Administration (SBA).
The Program will provide matching grants of up to $500,000 to eligible life sciences companies. Over the program’s first two years $3.5 million in grant funding was awarded to seven companies. The Center’s other programs for industry include the Life Sciences Accelerator, through which the Center provides loan financing to early-stage companies, the Internship Challenge, the Life Sciences Tax Incentive Program, the Massachusetts-Israel Innovation Partnership (MIIP), and the Center’s Cooperative Research Matching Grant Program.
“These grants help our small businesses grow, while creating new jobs in our innovation economy,” said Secretary of Housing & Economic Development Gregory Bialecki, Co-Chairman of the Center’s Board of Directors. “Through programs like this one, Governor Patrick’s Life Sciences Initiative is making Massachusetts an even more attractive place for life sciences companies to locate and expand.”
“Last year we awarded grants to four promising companies, and we look forward to a strong group of applicants in 2012,” said Susan Windham-Bannister, Ph.D., President & CEO of the Massachusetts Life Sciences Center. “This program is providing important leverage on federal funding and fills a critical funding gap in the lifecycle of life sciences companies.”
“Supporting commercialization-ready life sciences and technology companies through the Small Business Matching Grant Program (SBMG) is a win-win for the Commonwealth,” said Robert Nelson, Massachusetts District Director for the Small Business Administration. “By leveraging on the strengths of the Massachusetts economy and the federal funds our small businesses have already received through the SBIR and STTR programs, the program facilitates the creation of high quality manufacturing jobs and real economic development.”
The Center will be holding information sessions on the following dates so that interested applicants can learn more about the program and how to apply:
Waltham Wednesday, January 11, 9:30 am 1100 Winter Street, center entrance, 1st floor
Lowell Wednesday, January 18, 10:00 am UMass Lowell/M2D2, 600 Suffolk Street
Worcester Friday, January 20, 10:00 am WPI, 60 Prescott Street, 1st Floor
Waltham Monday, January 23, 3:30 pm 1100 Winter Street, center entrance, 1st Floor
Boston Thursday, January 26, 10:00 am MassMEDIC, 715 Albany Street
To attend an information session please RSVP to sbmg@masslifesciences.com. Please include your cell number and email address in case of cancellation due to inclement weather.
About the Massachusetts Life Sciences Center
The Massachusetts Life Sciences Center (MLSC) is a quasi-public agency of the Commonwealth of Massachusetts tasked with implementing the Massachusetts Life Sciences Act, a ten-year, $1 billion initiative that was signed into law in June of 2008. The Center’s mission is to create jobs in the life sciences and support vital scientific research that will improve the human condition. This work includes making financial investments in public and private institutions that are advancing life sciences research, development and commercialization as well as building ties between sectors of the Massachusetts life sciences community. For more information, visit www.masslifesciences.com.
