Events

Time: 3:00PM - 4:15PM**
Location: Lobby

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The Life Sciences Milestone Achievement Program is now open and accepting applications

Program Overview
The Life Sciences Milestone Achievement Program (MAP) is a program from the Massachusetts Life Sciences Center for early-stage companies, providing funding to perform and complete essential value-creating milestones. The program’s goals closely align with needs expressed by the marketplace, including filling a gap in the funding environment and empowering companies to attract additional funding.

The grant awards range from $50,000 to $200,000 and will move technologies and companies forward. Target applicants for the Life Sciences MAP are early-stage Massachusetts based companies that can define and articulate a critical milestone needed in order to drive their business forward, and they are currently working with or have previously worked with a mentor or mentors.

Companies must fall within one of the five life sciences sectors: bioinformatics, biopharmaceuticals, biotechnology, diagnostics, and medical devices.

Examples of fundable milestones include projects relating to Product Development and Scale Up, Clinical Evaluation and Regulatory Process endpoints, completing Business and Strategy objectives, and Market Validation. Please refer to the Solicitation for complete program details.

To provide more information and answer any questions you may have, the Center will be offering information sessions throughout the state. Space will be limited. You must RSVP for the info session by sending an email to map@masslifesciences.com and provide a number to reach you in case of inclement weather.

** An Accelerator Loan info session will immediately follow the MAP info session.

Program to Date
This is the initial round of the Life Sciences MAP. The Center’s Board of Directors approved up to $2 million in funding for this program in Fiscal Year 2015.

Program Eligibility
Interested applicants will be required to submit an on-line application. Applications will be accepted via the MLSC application portal from December 8 up until the deadline of February 2, 2015 at 12:00 noon EST.

In order to be eligible for this program, you must meet the following criteria:

1. Applicant must be a for-profit corporation, limited liability company, sole proprietorship, limited liability partnership, or partnership located in the Commonwealth of Massachusetts, which is registered to do business in Massachusetts, and in good standing
2. Applicant must be a life sciences company: bioinformatics, biopharmaceuticals, biotechnology, diagnostics, or medical devices
3. Applicant must have raised/received as of the date of the application:
   1. At least $50,000 and no more than $1,000,000
      1. No MLSC or other state funding may be included to meet the minimum threshold
      2. No more than $100,000 in non-convertible debt
      3. No more than $1,000,000 in equity or convertible debt
      4. No more than $5,000,000 million in grants
4. Applicant must outline and describe a new milestone to be achieved with Center funds
5. Applicant must be actively working with a mentor, or must have previously been mentored. For purposes of this program, a mentor is someone who is familiar with your company strategy, technology, and/or market and has provided input to future planning.
6. Applicant must be able to issue its own equity (stock or units of ownership) if majority owned (50% or more) by a parent company
7. Applicant must be in compliance with all other Center agreements, if any
8. Applicant must not be a Center Accelerator Loan Awardee