Mass. Life Sciences Center launches small business grant program
 
By Julie M. Donnelly
 
 
The Massachusetts Life Sciences Center, which administers the 10-year, $10 billion Massachusetts Life Sciences Act, has announced it has set aside $3 million to launch a matching grant program for small companies.

 
This is the first time since the bill was enacted in July of 2008 that the center has opted to give out cash awards to companies. Previous grants has been directed to infrastructure and academic researchers, while companies have received loans and tax credits. The Life Sciences Center was tasked with setting up a number of grant programs as part of the bill but has had to delay implementation, due in part to budget cuts.

 
The new small business matching grant program that will match federal small business grant funding — from the National Institutes of Health, the National Science Foundation or the Department of Defense — for early-stage life sciences companies in Massachusetts. The MLSC will begin accepting online applications for the new program on Monday, Feb. 1. 

 
The program will provide matching grants of up to $500,000 to eligible life sciences companies. MLSC officials said they would seek out companies whose products are production-ready and those that are likely to create additional jobs in the state.
 
"This is a precedent setting program, really the first of its kind in the 50 states, supporting the growth of companies that are going into commercialization,” said Robert Baker, president of the Smaller Business Association of New England, in a statement."