The Massachusetts Life Science Center announced at the MassMEDIC conference in Boston last Friday that it had established a new competitive grant program designed to provide seed funding for emerging life science companies in order to de-risk subsequent angel and VC financing.
A life science company within broad categories of eligibility, having previously raised at least $50,000 but not more than $1,000,000, can apply for a grant of between $50,000 and $200,000 in order to reach specifically stated milestones identified in the application. The milestone goal might be development of a product, or reaching a certain stage of clinical trials, or obtaining a strategic positioning, or the grant of a patent or the filing of a patent, by way of example.
The application period begins December 8th and ends at noon on February 2nd; informational programs will be held in late November and early December in Boston, Beverly and Cambridge.
The program, called MAP, can be reviewed in detail at the following website: [email protected].