The design of the Open Capital Program is to provide grants for capital projects that support the life sciences ecosystem in Massachusetts by enabling and supporting life sciences research and development in the Commonwealth.
Up to $10 million in capital dollars is available and Mass Life anticipates each award to be $2 million or less to support capital projects across the state for not-for-profit partners. Applicants will have to demonstrate how the requested infrastructure will benefit the entire life sciences ecosystem in Massachusetts.
Eligibility & Evaluation
Applicants must be a Massachusetts legally organized “not-for-profit” entity such as an academic/research institution, a hospital engaged in research, business incubator or accelerator, or other not-for-profit entity that would be eligible for capital funding from the Commonwealth of Massachusetts. Institutions that are exclusively health care providers and/or requests for the purchase of equipment associated with standard healthcare would not be eligible for capital funding.
Eligible applicants must meet the following criteria:
- Applicants must be requesting funding for life sciences “infrastructure” defined as: “advanced and applied sciences that expand the understanding of human physiology and have the potential to lead to medical advances or therapeutic applications” according to the Massachusetts General Laws (MGL), chapter 23I, section 2.
- Mass Life anticipates each award to provide $2 million (or less) in funds to the eligible applicant. Mass Life may consider requests greater than $2 million in the event of a very compelling and highly competitive application. Mass Life expects to invest up to $10M through this Open Competitive Capital Program.
- Mass Life envisions that recipients receiving a grant under this program identify and raise additional funds for the proposed project that leverages Mass Life funding. Applicants that have succeeded in attracting significant additional funds will benefit during the review process.
- Applicants will have to demonstrate how the requested infrastructure will benefit the entire life sciences ecosystem in Massachusetts.
Submission of applications must be via online. Mass Life staff will conduct an initial screen and then submit to experts for review. Applicants may receive invitations to present their proposals to address questions or provide clarification. Mass Life will provide final recommendations to its Board of Directors for approval.
Please view the full list of eligibility requirements and evaluation process.
Impact on the Ecosystem
Massachusetts recognizes that investment in capital projects and infrastructure is required to create and sustain the attributes that make Massachusetts attractive to innovation clusters. To date, Mass Life has awarded or committed more than $480 million to support capital projects across the state. This includes projects designated for funding in the Life Sciences Initiative, and projects funded through Mass Life’s capital programs.
Learn more about our 2019 Open Capital awardees.
Connect with us to Learn More
If you have any questions regarding the application process, e-mail: OpenCapital@masslifesciences.com.