Awards for Life Sciences Center Initiative for Women Entrepreneurs
Today, the Baker-Polito Administration and the Massachusetts Life Sciences Center (MLSC) announced the 2020 winners for the MLSC’s Massachusetts Next Generation Initiative (MassNextGen), a competitive program to support women entrepreneurs in early-stage life sciences companies. Six companies will receive more than $85,400 in funding and access to a network of executive coaches for a year. For this funding year, the MLSC and the program’s industry sponsors contributed $512,500 in funding for awards. Since inception, including this year’s awards, the MLSC has deployed more than $1 million in funding for women entrepreneurs through MassNextGen with an executive coaching network providing 200-plus hours of coaching.
“This dynamic group of entrepreneurs and the companies they lead are an essential pillar of our innovative and thriving life sciences sector,” said Lt. Governor Karyn Polito. “The Baker-Polito Administration is committed to providing the tools and other resources to ensure the success of women at all levels in our innovation economy, with a hyper-focus on STEM-oriented fields.”
MassNextGen is a five year, more than $2 million commitment to ensure greater gender parity in the next generation of life science entrepreneurs. Each year, following a competitive program, the MLSC awards women-led early-stage life science companies a yearlong customized package of support, which includes non-dilutive grant funding and access to a network of seasoned Executive Coaches from the life sciences ecosystem to refine their business strategies and effectively raise capital. Lt. Governor Polito formally announced the 2020 awardees via a celebratory video message.
“The Life Sciences Center continues to play a unique role in developing and executing new strategies to address persistent unfairness toward female entrepreneurs in this vital industry,” said Massachusetts Housing & Economic Development Secretary Mike Kennealy, who serves as Co-Chair of the MLSC Board of Directors. “Producing a more diverse workforce and empowering more women entrepreneurs is essential for Massachusetts to retain its global leadership in the life sciences industry.”
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