The Massachusetts Life Science Initiative, a $1 billion investment to secure and strengthen the state’s leadership in the life sciences, and to bolster the life sciences as an economic engine for the Commonwealth, was passed by the State Legislature and signed into law in June 2008.
The MLSC’s investment strategy is based on public-private collaboration to leverage public tax dollars. This strategy has proven effective; since 2008, the MLSC has directly invested or committed more than $640 million and leveraged more than $2 billion in third-party investment. In other words, for every $1 of taxpayer money that the Center has invested, Massachusetts has attracted more than $3 in additional, outside investment – creating a public-private investment fund of more than $3 billion for the state’s life sciences ecosystem that would not have existed without the Life Sciences Initiative. The MLSC uses a portfolio of tools and investments to achieve its goals and objectives.
To ensure that all investments are evaluated on the basis of merit and “relative best use” of the Commonwealth’s funds, the MLSC makes its awards based on competitive solicitations and a rigorous, transparent review process that draws on experts from the life sciences sectors across the state. The broad expertise that informs the MLSC’s decisions has enabled the Center to make smart, strategic investments that attract matching investment capital and highly leverage the public dollars that have been entrusted to it.