Massachusetts Next Generation Initiative

Program Overview

The Massachusetts Next Generation Initiative (MassNextGen) is a five year, $1 million commitment to ensure the next generation of life science entrepreneurs have equal representation of men and women. MassNextGen is a partnership between the Massachusetts Life Sciences Center and anchor sponsor Takeda.

Each year, following a competitive program, two women-owned or controlled early-stage life science companies will be awarded a year-long customized package of support, which includes funding and access to a network of seasoned Executive Coaches from the life sciences ecosystem to refine business strategies to effectively raise capital.

Takeda is the first private partner to kick off this program by providing $250,000 to match the MLSC $250,000 over a five year period. As a result, $100,000 in funding is available for the inaugural year of the program to be distributed to two winners of a competitive process, each receiving a $50K grant. An additional $100,000 of in-kind support and coaching from an illustrious network of seasoned entrepreneurs and investors as executive coaches who will be available to winners of the first year’s challenge. 

Why MassNextGen?

It is clear the system is broken and that absence of diversity in life sciences is real[1]. Between 2011 and 2013, only 15% of the companies receiving venture capital investment had a woman on the executive team. However, only 3% of the total venture capital dollars in the U.S. went to companies with a woman CEO[2]. Seed stage money is the hardest for women executives to come by.

The MLSC and Takeda recognize it is vital to the success of the life sciences ecosystem to not leave any talent nor intellectual capital on the table. Each are committed to making change in the Life Sciences ecosystem through the development of the Massachusetts Next Generation Initiative.

Stay Tuned!

The program will be launched in early 2018. Please check back for updates to the program or e-mail MassNextGen@masslifesciences.com.

If you are interested in sponsoring the Massachusetts Next Generation Initiative, please reach out to Jennifer Griffin, Vice President of Industry Programs & Relations at JGriffin@masslifesciences.com.

[1] Stasiak L, Simpson K. Opening the Path to a Diverse Future. Liftstream. 2017
[2] Balachandra, L., Blank, A., Brush, C., Davis A., Greene, P. The Diana Report Women Entrepreneurs 2014: Bridging the Gender Gap in Venture Capital. Babson College, 2014

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