Bill > S237

This bill establishes a pilot program through the Executive Office of Housing and Economic Development to offer competitive grants totaling $500,000 to startup companies owned by Massachusetts residents and business owners. The program aims to provide up to ten grants to eligible startup companies, which are defined as newly emerged business ventures seeking to develop a viable business model to meet a marketplace need. The grant program will open for applications no later than December 1, 2024, and the funding will be awarded to selected winners no later than July 1, 2025. The Executive Office of Housing and Economic Development will also submit a report to the state legislature detailing the progress of the pilot program and the economic impact of the grants on the recipient startup companies by July 1, 2026.

Business and Industry

https://malegislature.gov/Bills/193/S237