The Seed Fund

The Massachusetts Life Sciences Center Seed Fund has launched with a mission of seeding innovative and promising life science companies in targeted geographies throughout the Commonwealth. We are investing up to $250,000 in convertible notes to early stage life sciences companies in five pilot locations: Lowell, Worcester, Amherst, Springfield, and Pittsfield. By leveraging the breadth of a strong life sciences ecosystem across Massachusetts, we intend to identify promising opportunities.

Who

The Seed Fund is targeting life sciences companies broadly, which includes therapeutics, medical devices, diagnostics, and bioinformatics/digital health technologies. Pre-seed to early stage companies who have not yet raised their first priced round are encouraged to apply for this program.

The Seed Fund is piloting to five targeted locales: Lowell, Worcester, Amherst, Springfield, and Pittsfield.

At the time of application, a company must:

  • Intend to locate or be located in one of the five pilot locations, where the majority of its employees will also be located

At the time of investment:

  • Be physically located in one of the five pilot regions
  • Employ one full time equivalent MA employee
  • Produce Certificates of Good Standing from the Department of Revenue and Secretary of State’s Office

When

Opportunities will be evaluated on a rolling basis. There is a two phase process. In Phase I, applications are submitted via our SmartSimple Portal (see below for link), screened, and notified within a month whether they are invited to pitch. If advanced, companies will enter Phase II, which includes due diligence over the next few months. All recommendations for investment will be brought before the MLSC’s Board of Directors.

How

Up to $1M is available for all investments in the first year of the fund.

To begin the process, please submit an application via SmartSimple here. If you have questions, please contact an Industry Team member at: SeedFund@Masslifesciences.com.

 

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