The Massachusetts Life Sciences Initiative

1. Funding: A real investment in the future: $1 Billion over ten years in public funding

$500 million in capital funds toward public higher education and other facilities and equipment to be used in collaboration with the life sciences industry
$250 million on research grants, fellowships, and sector-wide workforce training initiatives
$250 million in tax benefits, targeted toward job creation
$250 million in private sector matching funds for capital, research grants, fellowships and workforce training

2. Planning: A Comprehensive strategy

A reformed & strengthened Massachusetts Life Sciences Innovation Center to act as the key entity for Life Sciences in Massachusetts
The Center will have a new mission, focused on medicine and science – not politics or ideology
The Commonwealth will work closely with iIndustry, private higher education, academic medical centers and the Massachusetts Life Sciences Collaborative

3. Research: Promoting ideas and innovation

Massachusetts Life Science Fellowship Grants “Gap Funding” to promote new cures and retain researchers in Massachusetts
NIH gap funding grants to bridge researchers prior to receipt of NIH grant
Stem Cell research funding to overcome federal prohibitions and leverage our existing global strength in stem cell research
RNAi funding to build upon the promising work of UMass Nobel laureate, Dr. Craig Mello

4. Development: Building the innovation infrastructure

Strengthen life sciences research in higher education institutions and academic medical centers through collaboration and funding partnerships
Create the Massachusetts Stem Cell Bank, the largest repository of stem cell lines in the world
Create Massachusetts Life Sciences “Innovation Centers,” regional facilities to enable research collaborations and entrepreneurship models that defray costs by sharing. These centers will spur other development throughout the region and serve as economic development hubs
Fund the purchase of equipment and instrumentation, to be used by public and private entities

5. Commercialization: A healthy economy and skilled workforce

Grant funding in areas like devices, and drug development, where the collaboration is intended to translate Massachusetts discoveries into health applications manufactured in Massachusetts
Funding to build upon the unique innovation strengths of Massachusetts’ small businesses and non-profits
Tax Incentives specific to job creation and manufacturing of products invented or developed in Massachusetts
Workforce training support that is targeted to specific skills required within the life sciences sector