Boston offers unparalleled resources to fledgling life sciences companies
Guest blog post by Susan Thompson, PhD, engagement manager, Back Bay Life Science Advisors
A hub for the biotech and pharma startup industries, Boston’s startup ecosystem ranks No. 4 in the world, offering an ideal environment for aspiring candidates to grow and flourish through a myriad of local resources. Young companies can draw on these resources and learn from established life science leaders, like Back Bay Life Science Advisors, who regularly offer real-life expertise and insights to the startup community through free MassBio events.
On November 4, Back Bay Life Science Advisors will moderate a panel discussion on Valuation & Funding at MassBio. At this event, part of MassBio’s Entrepreneur’s University, panelists will discuss and share practical expertise on:
- notable funding innovations from the past year
- practical insights on the latest developments in valuation and funding
- resources for tackling questions around establishing value in volatile markets
- balancing short-term funding with long-term strategy.
MassBio also supports entrepreneurs through its MassCONNECT program, the only entrepreneur mentorship program in Massachusetts that dives deep into the life sciences. MassCONNECT matches entrepreneurs and founders with seasoned life sciences professionals to catalyze and commercialize innovation.
In addition to the networking, education and advocacy resources offered through MassBio, early stage startups can look to the following resources:
- Women in Bio (WIB) – an organization that holds regular events for females in the biotech and life sciences industry; while not exclusively focused on entrepreneurs and startups, the diversity in membership helps to connect founders with a variety of industry experts.
- Massachusetts Medical Device Development Center (M2D2) – a hub for medical device startup companies, including access to facilities, services and resources at UMass Lowell and UMass Medical School campuses; every year, M2D2 also hosts a 100K Challenge New Venture Competition for seed and early-stage medical device companies.
- VentureWell – a non-profit that provides non-dilutive funding and resource-intensive accelerator programs and workshops to student-based start-ups; VentureWell has given more than $7.5 million to over 500 student-based startups.
- Massachusetts Life Sciences Center – an agency that makes investments in life science-focused companies and helps to foster new job creation in the life science industry; notably, the center has invested $600 million in state funding to state-based life science companies and helps match interns with early stage life science companies.
- Mass Challenge – an accelerator that provides startups a range of resources across Massachusetts, including free office space, a network of eager mentors, workshops and training session as well as access to participate in a competition for non-dilutive prize money of up to $1 million. Mass Challenge alumni have raised an impressive $1.1 billion in outside funding, created more than 6,500 high-paying jobs and 32,500 indirect support jobs.
Boston is packed with resources for life science startups, ranging from collaborative working space to intense mentorship matching and even to millions in non-equity based funding. Access to these resources has led to a direct impact on the success of new life science companies in Boston as measured by funding raising and exit values.
What are your valued resources in the Boston area?
This is an edited version of a post that originally appeared on BostInno here.
Guest postings on the MassBio blog in no way represent the opinions or endorsement of MassBio or its officers, directors, employees, agents, and consultants. MassBio does not represent or guarantee the truthfulness, accuracy, or reliability of statements or facts posted under the Guest postings on the MassBio blog. MassBio accepts no liability for errors, omissions or representations. The copyright of guest content belongs to the author and any liability with regard to infringement or intellectual property remains with the author.