July 19, 2016 (CAMBRIDGE, MA) – TiE-Boston and MassBio announced a new partnership today between TiE ScaleUp and MassCONNECT. The partnership will provide premier mentoring and resources to life sciences and healthcare entrepreneurs in Massachusetts.
“We are very excited about this partnership as MassBio and MassCONNECT will help us widen our reach in the life sciences and healthcare space and to recruit more life sciences and healthcare companies to TiE ScaleUp,” explained Anuradha Yadav, Executive Director of TiE-Boston.
“The partnership recognizes the synergies between MassCONNECT and TiE ScaleUp, and reflects a shared belief that by working together, we can leverage our respective strengths and networks and amplify our impact in the innovation ecosystem” said John Hallinan, Chief Business Officer of MassBio.
In this partnership, MassCONNECT and TiE ScaleUp will share information and refer promising life sciences and healthcare entrepreneurs to the program that is the best fit based on an entrepreneur’s stage of development. Through this partnership, entrepreneurs will have the opportunity to participate in both programs to maximize their access to resources and networks.
TiE ScaleUp, an accelerator program run by TiE-Boston, provides startups a path toward breakthrough growth through access to investors, mentors and classes/workshops. During the program, startups will have the opportunity to engage with investors through an initial and final demo day, peer-to-peer learning through CEO roundtables, tailored mentorship and workshops taught by world-class academics and subject matter experts.
MassCONNECT matches entrepreneurs and founders with seasoned life sciences professionals to catalyze and commercialize innovation. MassBio’s MassCONNECT program is the only entrepreneur mentorship program in Massachusetts that dives deep into the life sciences.
The MassCONNECT process involves a two-month mentorship where industry experts guide entrepreneurs as they seek to develop business plans, launch companies, and raise capital. MassCONNECT mentors evaluate and provide feedback on commercial feasibility; identify strengths, weaknesses, opportunities and threats; and team up to furnish industry-specific business advice for innovative ideas in therapeutics, diagnostics, medical devices and digital health. Entrepreneurs gain invaluable advice and coaching on defining value proposition, developing pitches and building professional networks.
TiE-Boston and MassBio do not charge fees to entrepreneurs and do not take equity positions for their mentorship programs.
Since 1997, TiE-Boston has been supporting entrepreneurs by offering education, mentorship, networking, and funding opportunities. TiE-Boston connects entrepreneurs with each other and other stakeholders in the ecosystem, including seasoned serial entrepreneurs, angel investors, venture capitalists, service providers, and early customers. TiE-Boston is a chapter of TiE-Global, the largest global not-for-profit organization fostering entrepreneurship. TiE-Boston members leverage the global network of members from 61 chapters in 18 countries. TiE has 12,000 members throughout the world, and has contributed over $250 billion in wealth creation. For more information about TiE-Boston, visit boston.tie.org.
MassBio is a not-for-profit trade association founded in 1985 and committed to advancing Massachusetts' leadership in the life sciences to grow the industry, add value to the healthcare system and improve patient lives. Representing more than 700 biotechnology companies, academic institutions, disease foundations and other organizations involved in life sciences and healthcare, MassBio leverages its network of innovative companies and industry thought leaders to advance policy and promote education, while providing member programs, events, industry information, and services. Learn more at www.MassBio.org.
MassBio’s MassCONNECT program is the only entrepreneur mentorship program in Massachusetts that dives deep into the life sciences. MassCONNECT matches entrepreneurs with seasoned life sciences professionals to catalyze and commercialize innovation.
Learn more at www.massbio.org/discover/massconnect.