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Emerging Technology Fund

Your company is off and running, and you’re ready to go to the next level – that’s when you come to us. The Emerging Technology Fund (ETF) is designed to help growing companies like yours find the capital you need. We work with companies located in or relocating to Massachusetts that have strong management teams, demonstrated technical developments, shown market demand for their products, and proven financial records.

The ETF makes loans of up to $4,000,000 to technology companies for acquisition, expansion, working capital, or equipment purchases. Combined with MassDevelopment’s other offerings, we can help you deliver the products essential for a thriving economy.

Portfolio Companies

Investors and CEOs alike are realizing that prudent, covenant-lite debt structures that align with realistic business models can provide a path to sustainable growth.

Kathryn Fraser, Vice President Lending

Emerging Technology Fund Direct: 617-330-2082 Email: kfraser@massdevelopent.com

Success Stories

Acacia Communications

Acacia Communications used the ETF to meet ambitious growth projections.

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Algorex Health

Algorex Health used the ETF to triple its head count.

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Dive Technologies

Dive Technologies used the ETF to equip and staff a new facility.

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First Light Diagnostics

First Light Diagnostics used the ETF to hire staff and expand its capabilities.

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MedMinder

MedMinder Systems used the ETF to realize growth and better serve patients.

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Vyasa Analytics

Vyasa Analytics used the ETF to hire staff and build out its infrastructure.

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Frequently Asked Questions

Who's eligible?

Who do we help?

What are SBIR Bridge Loans?

What's the advantage of Venture Debt?

Download ETF White Paper

Portfolio Companies in the News

Mainebiz | April 30, 2020

Senscio Systems leverages the ETF to fight COVID-19

Senscio Systems, a medical device maker with a growing presence in Maine, used the ETF to expand its at-home health-monitoring product to screen people most at risk for COVID-19.

Who’s Eligible?

To qualify for the ETF program, you must be a technology company that:

Is considering launching or expanding manufacturing operations in Massachusetts
Seeks financing for the purchase, expansion, or improvement of real estate; the purchase of equipment; or working capital for growth
Will receive financing from two parties other than the ETF
Can ensure your financial investment benefits the Massachusetts economy

Who do we help?

We help proven technology companies of all kinds looking to expand in Massachusetts, including:

Advanced Materials
Communications
Defense / Homeland Security
Electronics
Environmental
Information Technology
Medical Devices
Nanotechnology
Plastics / Polymers

What are SBIR Bridge Loans?

The Small Business Innovation Research (SBIR) Bridge Loans through the ETF are for Massachusetts-based recipients of federal SBIR grants, which are federal grants that fund research and development projects at small businesses to help them explore their technological potential. SBIR grant awardees typically wait three to nine months for their grant funds; the SBIR Bridge Loans bridge the time between the SBIR award and the time the grant is funded, increasing the value of the SBIR grants by putting the money to work faster.

Companies that have committed federal SBIR grants may apply.
SBIR Bridge Loan facilities may be up to $250,000.
Loans will advance up to 90 percent of eligible grant milestone payments. Loan advances must be repaid when the SBIR grant milestone payments are received.

MassDevelopment will take a first lien on all business assets of the borrowing companies until fully repaid.

What’s the advantage of Venture Debt?

Venture debt provides emerging-growth companies the capital they require without unnecessary dilution. The table below shows typical ranges for terms and costs from the private sector and the Emerging Technology Fund, a venture debt program offered by the Commonwealth of Massachusetts.