Massachusetts Life Sciences Center announces launch of new Small Business Matching Grant Program

 The Massachusetts Life Sciences Center is announcing the launch of its new Small Business Matching Grant (SBMG) Program. This program, created by the Life Sciences Act of 2008, reflects the Center’s ongoing commitment to supporting early-stage life sciences companies that will grow jobs, promote manufacturing and product commercialization in Massachusetts and stimulate innovation across the Commonwealth.

The primary objective of the SBMG is to provide support to companies that have developed new commercialization-ready technologies so that they may reach production and create jobs in the Commonwealth. Target applicants are emerging life sciences companies whose products are production-ready and have high market potential, but are in need of some small level of financial support to enable that commercialization. These companies are poised for rapid growth that will create jobs in the Commonwealth and are positioned to draw additional (non-state) financing.

As with all of our programs, the Center is committed to casting a statewide-net for prospective applicants so as to receive a rich pool of competitive applications from every corner of Massachusetts. 

About the Small Business Matching Program (SBMG)

Created through the Life Sciences Act of 2008, the SBMG will provide “matching” support – capped at $500,000 per company — to Phase II or Post Phase II SBIR or STTR grants already received by applicant companies.

Applicants must 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), or Department of Defense (DOD).

The Life Sciences Center has established a web-based interface where companies may apply for a grant under the SBMG Program.  The solicitation period for applications is February 1 – March 1, 2010. The Center anticipates that awards will be announced by the end of May 2010, subject to approval by our Board of Directors. 

On-line applications are now being accepted. The Center will be offering information sessions on Friday, February 12th and Tuesday, February 23rd, 2010, for interested and/or prospective applicants to the Small Business Matching Grant Program. The information sessions will be conducted from 8-10 a.m. at the Bay Colony Corporate Center Conference Room, located at 1100 Winter Street in Waltham, Massachusetts.  RSVP for either session by emailing lsmith@masslifesciences.com.

Those interested in obtaining more information and/or applying to the Center’s Small Business Matching Grant Program, please visit the center’s web site: www.masslifesciences.com.

The Massachusetts Life Sciences Center is a quasi-public agency of the Commonwealth of Massachusetts created by the Economic Stimulus Bill of 2006.  The Center is 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.

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