Massachusetts Life Sciences Center Impact Report

I am pleased to present Public-Private Partnerships in Action: The Statewide Impact of the Massachusetts Life Sciences Center on the Life Sciences Ecosystem, which analyzes the economic and scientific impact of the Massachusetts Life Sciences Center (“MLSC” or “the Center”) since the inception of the Massachusetts Life Sciences Initiative in 2008. There is no shortage of reports or data that present the case for Massachusetts as the world’s leading life sciences ecosystem.

This report is different.

Through our engagement with a consultant team, we have sought to independently evaluate and assess the unique, incontrovertible contributions the Center has made to support the growth, development and vitality of the Massachusetts life sciences ecosystem. In short, we wanted to know “but for” the investments and activities of the Center, how might the ecosystem have evolved?

The report that follows is the result of months of engagement by the consultant team, gathering and evaluating data from primary and secondary sources. This rigorous analysis not only provides a sense of economic and scientific development, it also begins to provide a measure of the return on the significant public investments made by the Center over the past ten years. I am deeply grateful to our partners, collaborators, and grantees for their time, data and transparency that significantly contributed to the integrity of the analysis.

As a quasi-governmental authority, the MLSC is unique in our investment strategy and approach. Our mission is to advance both the scientific and economic development of the life sciences industry. As such, our work places us at the intersection of innovation, entrepreneurship, academic and workforce development, community and regional development, job creation and, of course, great science and positive patient outcomes. While we have many metrics that measure the efficacy of our actions, at the core, we approach our investments by looking at how best to serve individuals, communities and regions across the entire Commonwealth.

I am very proud to report that, in relation to the overall Massachusetts life sciences ecosystem, MLSC-supported companies have increased job growth, improved patent activity and commercialization, seen an increase in venture capital and federal funding, and conducted nearly 10 percent of the clinical trials in the Commonwealth. At the same time, our contributions increased collaborations between industry and academia, making innovation infrastructure such as research facilities, lab space, cutting-edge equipment, and incubators available across the state.

Perhaps most importantly, our investments are preparing the next generation of life sciences leaders through capital investments in K-12 education, community colleges, state colleges, and the University of Massachusetts system. We operate the largest state-run life sciences internship program in the nation. With this year’s cohort, nearly 3,500 high school and college students will have had internship opportunities underwritten by the Center, and almost 25 percent will have gained full- or part-time employment directly as a result.

Looking forward, the future for our industry is bright and our commitment steadfast. With your ongoing support, we will continue our work to ensure Massachusetts remains a beacon to all those across the world who chose to make Massachusetts home and solve the biggest challenges in driving patient health.

Sincerely,


Travis McCready, President & CEO

To read the full report, please click here.

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