MassCONNECT

NOW ACCEPTING APPLICATIONS!

 

MassBio has created MassCONNECT to link new entrepreneurs and founders with seasoned biotechnology professionals to provide industry expertise, MassCONNECTevaluation, and guidance as a means to help commercialize your ideas.  The goal is to enable new company start-up through partnership with mentors and to establish the right connections with industry facilitators. This may result in working with venture capitalists, angels, and other financiers who will help launch your company. 

You are cordially invited to apply for participation in MassCONNECT.

 

Download the editable-PDF version of the MassCONNECT RFP/Application here.

Have questions? Email MassCONNECT@massbio.org.

Why you should submit an RFP and work with MassCONNECT

Are you interested in starting a life sciences based company, whether as a founder or entrepreneur?  MassCONNECT assists you in getting your ideas and technology crystallized into a business opportunity for presentation to the investment community.  We are here to help you think about and think through your business opportunity, and most importantly, connect you to the enablers of the biopharmaceutical industry.

Why you should join MassCONNECT:

  • expose your technology to  industry experts comprising biopharmaceutical executives, venture capitalists, and angels;
  • connect with individuals and teams of mentors who will provide practical advice on how to increase the value of your opportunity;
  • receive coaching to prepare for investment pitches and develop concise business plans;
  • connect to resources to  improve your idea;
  • connect to avenues for financing your technology;
  • network with business professionals to develop your management team.

 

Eligibility

MassCONNECT is open to life sciences-based, pre-start, opportunities arising from New England based laboratories. The venture must involve the development of a new products, services, applications, or process in the life sciences area.  Typically, these will include new diagnostic tests, pre-clinical therapeutic molecules, platform technologies, and/ or instrumentation.

Applicants must submit the Request for Proposals to the Massachusetts Biotechnology Council.

 

Deadline, Application and Fee

RFPs (which can be downloaded at www.massbio.org) are due by 5:00 P.M. Friday, April 2, 2009. MassCONNECT will complete the review of RFPs within six weeks. The fee is $50, which should be submitted at the time of application and is payable to the Massachusetts Biotechnology Council. Mailing instructions for payment are on the MassBio website. RFPs must be emailed to RFPMassCONNECT@massbio.org, Please call 617-674-5151 for entry fee payment options. 

 

First-Round Screening

First-Round Screening will take place for all qualified entrants on May 7, 2010 and will be conducted by industry experts from various sectors of the biotechnology ecosystem, including representatives from venture capital, angel capital, biotechnology and pharma business development, and pre-clinical research. Screeners will evaluate the proposals and sort them along a scale of "business readiness". Upon completion of the review and categorization of the opportunities, MassCONNECT will be contacting each submitter of the outcome with initial feedback.

 

Mentor Match-Up

Depending on the degree of business readiness attributed to an RFP, MassCONNECT will assign a team of mentors (industry professionals) who will collaborate with the entrepreneur by providing advice, guidance, and further the network of the entrepreneur to introduce them to necessary resources. The goal of working with a mentorship team is to develop and hone the business opportunity and present it in a clear and concise way to potential investors. The entrepreneur and mentor team collaborate to generate a 10-15 page business plan for presentation at Office Hours, and ultimately before investors.

 

Presentation at Office Hours

There will be two Office Hours offered to founder-mentorship teams. Office Hours are conducted by members of the venture and angel community; The purpose of Office Hours are:

  • to provide you the opportunity to pitch your business plan to practicing venture capitalists and to get real time feedback regarding your opportunity. 
  • to understand the strengths, weaknesses, opportunities and threats of your business plan. 
  • to provide you with an action plan to improve your business plan and enable you to make the necessary changes to attract venture capital.

Office Hours are a no pressure, instructive, and consultative process.  Office Hours dates, time, and locations will be announced two weeks prior to the appointment.

The mentorship team will transition to a sole mentor after presentation at the first Office Hour.  Entrepreneurs will be matched with a sole mentor who will collaborate to refine the business plan in preparation for presentation to investors. 

 

Just for Fun...The Dragon's Den

And just for fun, MassCONNECT will host a Dragon's Den competition where founders compete amongst themselves to an open audience before a panel of venture capitalists.  Although, in the  future prize money may be awarded, under the initial piloting of MassCONNECT, no prize money will be awarded.  The practical benefit of participating in the Dragon's Den is presenting under a pressure condition to see how well the founder performs under a simulated investor pitch.