Description of MassVentures START Program for SBIR winners in Massachusetts. MassVentures is a venture capital firm focused on fueling the Massachusetts innovation economy by funding early-stage, high-growth Massachusetts startups as they move from concept to commercialization. MASSVENTURES: HELPING TO MAKE MASSACHUSETTS THE MOST DESIRED PLACE TO START and GROW YOUR COMPANY

1. SBIR Targeted Technologies
START Program

2. START Program Overview
Overview:
• $12 million to support the commercialization of technologies developed
under Phase II SBIR contracts
Goals:
• Taking technologies developed under SBIR and priming them for
commercialization
– Generate patents
– Build prototypes
– Perform market research
– Write fundable business plans
• Create fast growing MA companies by providing funding as well as
coaching, business planning and introductions to potential investors
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3. Supporting the Innovation
Economy
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• START is focused on activities essential to
successful commercialization, to help support
promising MA companies looking to grow and
stay here in the Commonwealth
• State support of the innovation ecosystem
• Leveraging federal dollars into high growth
companies moving towards the private sector

4. The Importance of SBIRs
to the State
Massachusetts has long been a national leader in SBIR
grants and dollars received
• 2nd in the nation in dollars received
• 1st in dollars received per capita
• $3.8 billion in commercial sales of SBIR technologies
generated to date
• MA has consistently been awarded nearly 12% of all
SBIRs
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5. START Program Details
• 3 Stages over 3 years
• $100,000 each to 10 Massachusetts applicants that have won
Phase II SBIR contracts
• Based on progress demonstrated over the first year, an
additional Stage II grant of $200,000 will be awarded to the
five most promising companies
• At the end of the second year, two companies will be chosen
for a $500,000 investment based on their potential for growth
and profitability
• This process is renewed yearly!
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6. START Program Details
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3 Stages over 3 years
Stage 1: Ten companies receive $100,000 each
Stage 2: Five companies receive $200,000 each
Stage 3: Two companies receive $500,000 investment each
$1 Million$1 Million$1 Million$1 Million
$1 Million $1 Million $1 Million
$1 Million $1 Million
2012 2013 2014 2015
Stage 3
Stage 2
Stage 1

7. Eligibility
• Massachusetts based companies that have received
Phase II funding within the last 3 years
• The company must demonstrate a significant,
addressable market for its technology
• Well planned use of proceeds that will take company
to commercialization
• Life sciences will not be considered under START as
other Massachusetts programs support them.
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8. Selection Process – Stage 1
Streamlined and User-friendly process
• A two-page executive summary and Quad Chart
• 80 reviewers evaluate the plans
• Top 15 – 20 present to panel of judges
– 10 Minute presentation, 5 minute Q&A
• 10 are selected for $100k grant subject to due
diligence and contract
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9. Qualified Reviewers
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• 110 experts in their fields
• Evenly divided among:
– Scientists
– Engineers
– Managers of technology companies
– Investors
• Each proposal reviewed by minimum of 7
individuals

10. Results
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• In just five years, START has provided $12
million funding to 50 SBIR projects
• START companies have raised additional
capital of $278+ million.
• START companies current combined
annual revenue is $82+ million

11. Results
• START companies have seen 30% employee
growth.
• START companies employ over 1000 people
• Through the START program, MassVentures
has created an ecosystem of more than 200
companies, reviewers, service providers and
advisors.
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12. Key Dates for 2017
Announcement / RFP
• TBD; typically March-April
Applications Due
• TBD; typically April-May
Presentations and tentative decision
• TBD; typically May-June
Winners announced
• TBD; typically June-July
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13. Summary
• The State and MassVentures are committed to
fueling the innovation economy in the
Commonwealth
• MassVentures has a strong track record of
helping companies grow and achieve
profitability
• A unique program to address Massachusetts’
unique situation
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