MBI 2024 Impact Report

In 2024, Massachusetts Biomedical Initiatives (MBI) celebrated 40 years as the Commonwealth’s longest-running nonprofit life sciences incubator, driving innovation, economic growth, and workforce development in Central Massachusetts. Our 2024 Impact Report highlights MBI’s pivotal role in fostering a vibrant biomanufacturing hub and supporting the next generation of life sciences breakthroughs.

Key Achievements:

• Startup Incubation: MBI supported over 49 early-stage companies at our expanded 17 Briden Street facility, which added 10 new labs through the Pilot Biomanufacturing Center. These companies hit multiple milestones and created more than 200 jobs, contributing to a $2.2 billion economic impact since 2000.

• Workforce Development: Through the 2024 Challenge Grants, MBI and the MOBD funded programs to enhance diversity and skill-building in the life sciences workforce. Recipients included BioBuilder Educational Foundation, Latino Educational Institute, Girls, Inc., and Massachusetts College of Pharmacy and Health Sciences, supporting initiatives like biomanufacturing training and STEM programs for underrepresented groups.

• Economic Impact: MBI’s efforts have solidified Worcester as a top U.S. market for life sciences research talent, with Worcester County leading Massachusetts in biomanufacturing job growth. Our partnerships with academic institutions, industry leaders, and initiatives like the Worcester Biomanufacturing Initiative continue to strengthen the regional bio-cluster.

As MBI looks to the future, we remain committed to fostering innovation, building a diverse workforce, and establishing Central Massachusetts as a global biomanufacturing leader. Read the full 2024 MBI 2024 Impact Report to explore 40 stories celebrating our history and vision for the next decade.