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LOWELL — Attention, medical-device entrepreneurs.

The Massachusetts Medical Device Development Center is sponsoring a medical-device venture competition that aims to find the best new medical-device startups, and will award them $20,000 in product-development services.

The center, referred to as M2D2, is a joint initiative between UMass Lowell and UMass Medical School in Worcester.

Now in its second year, the M2D2 competition promoting entrepreneurship is sponsored by Nutter, McClennen & Fish and will culminate in an award ceremony in April.

All new medical-device ventures and entrepreneurs are encouraged to apply. The application fee is $25 and the entry deadline is 5 p.m. Friday, Feb. 1.

A panel of expert judges will hear from finalists at 6 p.m. on Wednesday, March 27, at the M2D2 headquarters in the Wannalancit Mills, East Campus, 600 Suffolk St., Lowell.

A winner’s ceremony will be held in Boston in April. For more, visit www.uml.edu/m2d2 and click on “events.”