Applications are now open for a new accelerator program aimed at scaling Central Massachusetts life sciences companies, created by Worcester-based incubator Massachusetts Biomedical Initiatives and startup hub Auxilium.
The three-month accelerator program will offer each selected startup a capital investment of $250,000 to enhance growth and product development during the initiative. Additionally, founders will receive mentorship from MBI’s and Auxilium’s networks, attend in-person workshops, and receive pitch preparation, according to the Auxilium-MBI accelerator website.
The program will conclude with a public pitch and demo event in front of investors, partners, and ecosystem leaders.
Eligible companies include those throughout the life sciences field, such as startups in digital health, diagnostics, AI-enabled healthcare, and advanced life science tools, according to a Wednesday press release from MBI.
“This joint cohort is designed to give founders focused, hands-on support at a critical stage of growth,” Zak Dutton, Auxilium executive director, said in the release. “From the start, it has been a priority for Auxilium to align with organizations that are already making an impact in Worcester, and MBI is a clear example. By bringing our resources together, we can move the needle and further strengthen the city’s life sciences sector.”
Beginning on June 8, program participants will work out of Auxilium’s offices with access to MBI’s facilities.
Applications are due on April 11, with final selections announced on May 1.
“This cohort is an open door to innovators across the country who want to grow their companies in a region that is deeply committed to their success. This is more than an accelerator. The cohort is an invitation for emerging companies across the country to come build where the future of bioinnovation is rapidly taking shape,” Jon Weaver, president and CEO of MBI, said in the release.
Auxilium was launched last year by Cliff Rucker, the founder of Beverly-based Rucker Investments and owner of the Worcester Railers hockey team. Since its opening, the entrepreneurial hub has launched a number of accelerator initiatives, including StartUp Week Worcester and the Auxilium Center for Entrepreneurship with Quinsigamond Community College in Worcester.
With 35 incubating companies as of the second quarter, MBI is the third-largest incubator in Central Massachusetts when ranked by data collected by WBJ’s Research Department.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare, manufacturing, and higher education industries.
