MassVentures is excited to announce $3 million in START grant funding for 17 deep tech startups. Funded by the Commonwealth and managed by MassVentures, the SBIR Targeted Technologies (START) grant program helps startups convert research developed under SBIR and STTR contracts into viable businesses in Massachusetts.
The START program awards companies $100,000 to $500,000 in non-dilutive funds to help them commercialize their technologies. But START is more than just capital. The MassVentures team spends hundreds of hours each year providing business guidance, such as introductions to customers, partners, employees, and capital providers, along with go-to-market strategy, pitch coaching, and mentoring. START is also unique in that it covers activities that are critical for growth but not included in federal grant programs.
In addition to supporting innovative companies, START has a tremendous impact on the economic growth initiatives of the Commonwealth. The program helps transfer research into viable businesses, create new industries, generate jobs, and bring new products to market. Since 2012, the MassVentures START program has granted $37.2 million to 125 companies which have gone on to raise more than $5.1 billion and employ more than 3,200 people in the Commonwealth. These companies have also added value by bringing over $2.2 billion in federal grant funding to the state. We are excited to be part of this visionary program and the innovative ecosystem it has helped create here in Massachusetts.
MassVentures wants to thank the dozens of amazing companies who applied this year and the dedicated reviewers and judges who volunteered their time to read and score each application. Every year we are bowled over by the groundbreaking ideas in these applications and the outstanding teams who pitch their business plans. This year was no different, so we are very pleased to announce the following winners.
Stage III Awards ($500,000) - ActivSignal and EnVision Endoscopy, Inc.
Stage II Awards ($200,000) - Advanced Silicon Group, Electrified Thermal Solutions, Gel4Med, Inc., Notch Inc., and Osmoses.
Stage I Awards ($100,000) - BioSens8, Bloomer Tech, Emvolon, Eyebot, Guardion, Inc., Ortholevo, PhagePro, Theromics Inc., Transcend Air Corporation and Versatope Therapeutics.
https://lnkd.in/erGF94YA
Yvonne Hao Sarah Stanton Gabriela Santana Goldstein Massachusetts Executive Office of Economic Development (EOED)
Charlie Hipwood Stacy Swider Vinit Nijhawan (he/him) Priya Yadav Sienna Leis Whitney Leslie
#innovation #SBIR #STTR #nondilutive #startups #deeptech
