MLSC launches the first round of Fiscal Year 2015 Accelerator Loan Program
The Massachusetts Life Sciences Center is pleased to announce the launch of the first round of our Fiscal Year 2015 Accelerator Loan Program. We encourage eligible early-stage companies in Massachusetts to apply.
The Accelerator Loan Program -- our flagship investment program -- reflects the Center's ongoing commitment to support early-stage life sciences companies that are bringing significant new products and services to market and expanding employment opportunities across the Commonwealth. The primary objectives of the program are two-fold: To provide working capital to promising early-stage life sciences companies that still are in the process of developing their science or technology, and to position these companies for subsequent investment. Accelerator loans awarded during this round will be capped at $1 million per company.
Target applicants generally are early-stage life sciences companies with a high potential for technology commercialization, rapid growth and private equity financing. The Accelerator Loan Program is designed to help sustain these companies through a critical stage of development and financing. The Center launched the program in 2009, and has awarded 28 companies a total of almost $18.8 million in loans. Seven of these companies have (pre) paid their loans with interest.
Applications are now being accepted and are due by August 4, 2014, at noon EDT. The Center anticipates that awards will be announced in late December 2014. The Center has established a web-based interface for companies' use in applying to the program. Applications must be submitted online; the Center will not accept paper submissions.
For more information and to submit your application, please visit the Center's web site at www.masslifesciences.com.
The Center will also be offering information sessions across the state for interested applicants. The first session will be held on Tuesday, July, 8th in Waltham, MA. Please refer to our web site for additional details about the information sessions.
If you have any questions or would live to RSVP for an information session, please contact firstname.lastname@example.org.
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