With the application for MassBioDrive’s fall 2022 cohort now open, here are some of the most common questions we’ve received about this program. As a reminder, the deadline to apply for the fall 2022 cohort is July 1, 2022 at 12:00PM (noon) ET.
What types of companies/founders/projects are you looking for?
We’re primed to support scientific founders and very early-stage biotechs who want to develop their business literacy, while also getting hands-on expert guidance and mentorship from industry leaders and growing their industry networks.
Specifically, we’d like to see early-stage startup applicants that have:
- A high potential therapeutic pipeline or platform technology
- Access (or a clear path to) to the intellectual property that the startup is founded on
- An interest in incorporating (if they haven’t already)
If your science or biotech doesn’t meet these criteria (or meets some of it), we’d still encourage you to apply – we know extenuating circumstances often exist so our application gives you room to provide more context.
But really, who is this program for?
This is for emerging founders who want the support of a community as they take the next step with their science. MassBio has a robust network of members, partners, experts, and mentors who want to support the next generation of groundbreaking startups.
What will my startup get out of it?
Here are MassBioDrive’s benefits, which are all provided for free and with no equity taken:
- 6 weeks of business curriculum and individualized working sessions, led by experts from J.P. Morgan (business & commercialization strategy), Thermo Fisher Scientific (drug development), Wilson Sonsini (IP & legal), KPMG (regulatory strategy), Xontogeny (fundraising), Marsh & McLennan (team & HR)
- 3 – 5 mentors who will serve as an advisory board for the course of the program; the MassBio team will help match you with mentors that fit your specific needs
- Business development and networking support from the MassBioDrive team throughout the program
- Ecosystem visibility through MassBioDrive networking events and an end-of-program Demo Day, and through MassBio marketing channels
- An equity-free “graduation gift” package, which includes a stipend award from Bristol Myers Squibb and resources from Evaluate, Johnson & Johnson Innovation, Watershed, and MassChallenge.
What does a week in the life of a program look like?
We know that our founders are busy with academic work, research, families, and everything else, so we’ve worked to make this program as manageable but as high impact as possible.
The two pillars of our 8-week program are curriculum modules and mentor meetings, which will both happen weekly:
- Curriculum modules: We take a hybrid and asynchronous approach to our six curriculum modules, which are composed of reviewing a video about that week’s topic and participating in a 1:1 deep dive working session with that week’s topic expert(s). Each week, you’ll receive a video overview of the next week’s curriculum topic; you (and anyone on your team who is interested) will watch it, take notes relevant to your startup, and share any questions or topics you’d like to discuss during the 1:1 working session with the curriculum expert. During the 1:1 working session with the curriculum expert, you’ll have the opportunity to connect live (or hybrid) on specific topics or questions directly related to your startup.
- Mentor meeting: The weekly mentor meeting will function as an advisory board meeting – you’ll have a set time to connect with your mentor team to discuss that week’s curriculum module, provide updates on your roadmap progress over the last week, and get advice or make asks of your mentors
Here’s what your average week at MassBioDrive will look like:
- Throughout the week:
- Continue to make progress towards the goals outlined in your program roadmap, which you’ll develop with MassBio and mentor support during the first two weeks of the program
- You’ll work with your mentor team to determine a consistent day and time of the week to meet that works for everyone for the eight weeks of the program
- Monday (during a 30-minute timeslot between 3:00 – 5:30PM ET):
- 1:1 meeting with that week’s curriculum expert
- Receive next Monday’s curriculum video, which you should watch between Tuesday and Wednesday (approximately 45 minutes – 1 hour)
- Prep for the next Monday’s curriculum module by sharing any questions or agenda items you’d like to review during the 1:1 meeting
- Next Monday:
- Start the cycle over again!
If I live/work outside of Boston/Cambridge (or Massachusetts…or New England) can I still apply?
Absolutely! We welcome all eligible applicants. In fact, three out of the five startups in our last cycle were not based in Massachusetts.
This is a hybrid program for a reason – we want it to be as easy as possible for all founders with great potential to harness our region’s networks and resources.
What is the application process for MassBioDrive?
To start, fill out our online application. We use this application to collect basic information about you and your startup, and we expect that it will take most applicants about an hour to complete.
All applications will be anonymized and undergo a blind review process by an expert team. Select companies will be invited to participate in 1:1 interviews with our review board of industry leaders, who will select the final cohort.
What key dates should I be aware of?
Here are the key dates for our fall 2022 program; applications for our spring 2023 program will open in January 2023.
- Key Application Dates
- May 31 , 2022: Application for MassBioDrive F22 Cohort Open
- July 1, 2022: Deadline to apply for F22 Cohort
- August 5, 2022: Applicants notified if accepted to interview round
- Weeks of August 22 & 29, 2022: F22 Cohort Interviews with Review Board
- September 27, 2022: F22 Cohort Public Announcement
- Key Dates for F22 Cohort
- September 26 – November 23, 2022: F22 Cohort*
- Note: Onboarding will begin the week of September 19
- October 13, 2022: Innovation Ecosystem Mixer
- December 1, 2022: F22 Demo Day
- September 26 – November 23, 2022: F22 Cohort*
Who are your portfolio companies?
Learn more about our S22 cohort here.
My company is a little too advanced for MassBioDrive – how can I engage with the network?
First – congratulations on your success!
Second – thanks for your interest in joining our community: join us by attending our events (see above) or becoming a mentor (see below)!
How can I get involved if I’m not an entrepreneur?
We have a few ways to support MassBioDrive:
If you’d like to give back:
Consider mentoring with MassBioDrive. Mentors play an invaluable role in helping founders take the first step (and all the other steps after). Your perspectives and experiences could be extremely valuable to someone who is just starting out. If you’d like to learn more, visit our mentor overview and interest form.
If you have resources to share:
Partner with MassBioDrive to provide tools or resources to our cohorts. It could be consulting services, access to a technology, space, or cold hard cash, startups can benefit from all different types of support. If you have something to share and would like to get involved, reach out to our team.
If you want a front-row seat to the latest industry breakthroughs:
Volunteer as an analyst. Analysts are undergraduate and graduate students pursuing degrees in the life sciences (biology, biotechnology, biomedical engineering, chemistry, or biochemistry preferred) or business, or experienced professionals who help conduct due diligence on our cohort applications. Interested? Send us your CV to start the conversation.
If you want to build your network:
Participate in our events. Through MassBioDrive, we want to catalyze the community and create more opportunities for everyone in the ecosystem, so we’ll be hosting at least five innovation ecosystem-focused networking events each year. Our next event is on October 13, but keep an eye on our event page for other upcoming events.