Innovator

InnovateMass was specifically designed to provide targeted, strategic support to companies facing the so called “commercialization valley of death,” a widely-recognized funding gap that exists between early-stage support offered by angel investors and later-stage support historically provided by venture capital and strategic investors.

If I’ve applied in the past, but was not awarded, may I re-use the same letters of intent from my project partners?

Yes, if the letters are still applicable with any changes you’ve made in your application and if the relationship is still active. The letters should demonstrate an active relationship and cooperation with critical partners, which will last at least the duration of the proposed project. To this end current letters are preferred, as it indicates that the cooperating parties are still in the relevant positions and the relationship is ongoing.

MassCEC's InnovateMass program is accepting applications for a special round of the program: Resilient Stations Challenge. More information can be found here.

To stay up to date on when the main application process re-opens, please sign up for our email updates and select Clean Energy Business Opportunities.

Only technologies that have achieved Technology Readiness Level (TRL) 5 will be considered eligible for an InnovateMass grant.

Application Teams may comprise both public and private entities, including clean energy companies, research and development institutions, academic institutions, state, local, and quasi-governmental agencies, school districts and nonprofits.

Seed Investments was created to serve as a resource for recent accelerator graduates to allow them to reach a stage where they can reach commercial milestones and successfully obtain private investment funding. The goals of the program are to:

What is a convertible grant?

A: A convertible grant is a financial instrument that is initially provided as a grant and, upon obtaining a Qualified Financing  or  other funding  milestone, the  grant converts  into  an  equity stake  in  the  company.  If  a  Qualified Financing  or  other  funding  milestone  is  not  reached,  the  convertible grant  remains  a  grant  until  the  term expires, at which point it may convert into equity at the then current fair market value, at MassCEC’s option.

Phase 1 – Please check back in Fall 2017 for the next Phase 1 Solicitation.

Phase 2 (Note: Only companies who have received a Phase 1 award are eligible to apply for Phase 2. Applications for Seed Investments Phase 2 are accepted on a rolling basis)

Step 1: Complete Phase 1 of Seed Investments in accordance with the agreed-upon work plan and reporting requirements outlined in Step 6 of Phase 1 above.

Only Massachusetts-based applicants that fit the MassCEC definition of “clean energy” (defined in the MassCEC Enabling Legislation here) and that have successfully graduated within the current year from the following accelerator programs are eligible:

General Inquiries: investments@masscec.com

Tibor Toth, Managing Director of Investments / ttoth@masscec.com / 617-315-9345

Alison Ernst, Senior Manager of Investments / aernst@masscec.com / 617-315-9389

Emil Mamedov, Senior Manager of Investments / emamedov@masscec.com / 617-315-1115

MassCEC’s Venture Debt Program was approved by the MassCEC Board in 2009. The Venture Debt program was created to fill funding gaps for clean tech companies who are looking for venture debt, but who may have trouble attracting private resources. The goals of the program are to: