Small Business Matching Grant (SBMG) Program
The Massachusetts Life Sciences Center is pleased to announce the launch of its new Small Business Matching Grant (SBMG) Program. This program reflects the Center’s ongoing commitment to supporting early-stage life sciences companies that will grow employment opportunities, promote manufacturing and commercialization, and stimulate innovation across the Commonwealth. The Center is targeting an FY 10 investment of $3 million in the Small Business Matching Grant Program.
The primary objective of the Small Business Matching Grant Program (SBMG) is to provide grants to commercialization-ready life sciences and technology companies that 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), Department of Defense (DOD), etc.
Grants 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. Through the SBMG Program grants, the Massachusetts Life Sciences Center will help companies that have developed new commercialization-ready technologies reach production and create jobs in the Commonwealth. 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.
Applicant companies to the SBMG must meet the following criteria:
- Must have received a Phase II, post Phase II, or equivalent small business innovation research (SBIR) or small business technology transfer (STTR) grant from a federal agency.
- Must be small businesses, as defined by the U.S. Small Business Administration (SBA). See http://www.sba.gov/contractingopportunities/officials/size/index.html to determine if your company qualifies as a small business.
If you meet any of the following criteria, you are not eligible to apply to this program:
- You received funding under the MLSC’s 2009 Accelerator loan program.
- You have raised $5 million or more in total equity financing.
- You are majority owned (greater than 50%) by a parent company that is an operating or holding company and;
• Have raised $5 million or more in total equity financing, or;
• Have received $5 million or more in financing from your parent - You are majority owned (greater than 50%) by a parent that is an investment company, investment partnership, or investment fund and have received $5 million or more in financing from your parent.
Companies that apply to the MLSC’s Small Business Matching Grant Program in 2010 will not be eligible to apply to the MLSC’s 2010 Accelerator Loan Program (anticipated to launch in late February 2010. See program description below).
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, pending approval by our Board of Directors.
2010 program awards were approved at the Center’s May 28th Board meeting. Three grant awards were made totaling $1.5 million, with the three recipient companies collectively projecting the creation of 40 new jobs as the result of these grants. Additional rounds of the Small Business Matching Grant Program will be announced via this web site.
Click here for Press release announcing 2010 grant awards >>
Click here for Press Release announcing program >>
Click here to see slide presentation from info session >>
Click here to see the Solicitation >>
Click here to see sample Grant Agreement Template >>
Click here to see a PDF of the application form (Note that this is for reference only, applications will only be accepted in electronic form via this web site) >>
With any questions about the Small Business Matching Grant Program, please email sbmg@masslifesciences.com.