Life Sciences Accelerator Program
The application for the fall 2011 Accelerator Loan Program will be available online starting on November 14, 2011. The application is due December 30, 2011 by noon EST. Please note that applications are only accepted online.
This is the second round of the Accelerator Program for FY2012. The Program reflects the Center’s ongoing commitment to supporting early-stage life sciences companies that will grow employment opportunities and stimulate innovation across the Commonwealth. The primary objective of the Accelerator Loan Program is to provide working capital to early stage life sciences companies that still are in the process of further developing their science/technology and have not yet raised more than $7.5 million in equity financing.
Accelerator Program loans are capped at $750,000 per company. Generally, target applicants are early-stage life sciences companies with a high potential for technology commercialization, rapid growth, and private equity financing. The Accelerator Program is designed to help sustain these companies through a critical stage of development and financing.
To date, the Center has awarded more than $8 million in generally unsecured loans to fourteen companies under the Program. Two of these companies have already paid back their loans with interest.
If you meet any of the following criteria, you are not eligible to apply to this program:
- You received an award under the Center’s Accelerator Loan Program
- You received an award under the Center’s Small Business Matching Grant Program
- You have raised $7.5 million or more in total equity financing
NOTE: If you reach the $7.5 million threshold prior to the closing and funding of the loan, you will become ineligible for an award under the program.
- You are majority owned (greater than 50%) by a parent company that is an operating or holding company and
Have raised $7.5 million or more in total equity financing, or
Have received $7.5 million or more in financing from your parent, or have raised/received $7.5 million or more as a combination of 1. and 2. above
- You are majority owned (greater than 50%) by a parent that is an investment company, investment partnership, or investment fund and have received $7.5 million or more in financing from your parent
Awards are expected to be announced on April 24, 2012.
In order to provide more information and answer any questions you may have, we are offering information sessions throughout the state. The dates and locations of these information sessions are listed below.
Since weather can be an issue, please RSVP with your contact information so that if a session is canceled, we can contact you.
Event |
Date |
Address |
| Waltham I | November 17th, 9:30-11 am | MLSC, 1100 Winter Street, Center entrance, lower level |
Worcester
|
November 29th, 9:30-11am |
MBI/WPI |
Cambridge - Mass Bio
|
November 30th, 9:30-11 am |
One Cambridge Center |
| Salem | Dec. 7th, 9:30-11 am | Salem State University, Enterprise Center, 121 Loring Street |
Fall River |
Dec. 9th, 9: 30-11 am |
UMASS Dartmouth |
Waltham II
|
Dec. 12th, 3:30-5pm |
MLSC, 1100 Winter Street, Center entrance, lower level |
For more information, please review the links below.
Click here to read the Solicitation
Click here to read the Frequently Asked Questions (FAQ)
Click here to see a Sample Accelerator Loan and Warrant Agreement
Click here to see a Sample Application
Click here to see the Press Release
Any questions about this program may be sent to accelerator@masslifesciences.com.