2011 01-31 mass challenge overview and metrics (1)

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Overview and metrics of 2010 competition.

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2011 01-31 mass challenge overview and metrics (1)

  1. 1. Overview and 2010 metrics<br />MassChallenge overview and 2010 metrics<br />January 2011<br />January 2010<br />
  2. 2. 1<br />MassChallengeis fostering innovation and growth via a global startup competition<br />
  3. 3. The startup competition connects innovators with supporters and resources throughout<br />2011 Competition Dates<br />Jan 2011<br />Prepare MassChallenge<br />March 8<br />Accept applications<br />& prepare entrants<br />April 11<br />2 rounds of judging<br />May 24<br />Prepare finalistsfor accelerator<br />June 20<br />Accelerate<br />finalists<br />Oct 1<br />Final Judging<br />Final ceremony<br />Oct 20<br />Engage all participants and alumni<br />2<br />
  4. 4. In year 1, MassChallenge was largest competition & accelerator ever: 446 entrants and 111 finalists<br />MassChallenge launch event with Governor Deval Patrick, Boston Mayor Thomas Menino, and passionate innovators.<br /><ul><li>Largest-ever startup competition and accelerator
  5. 5. 446 applicant startups from 26 countries and 24 states
  6. 6. Over 250 different judges and mentors participated
  7. 7. Concierge-like support for 111 startups
  8. 8. Office space, mentorship, press/media support and much more
  9. 9. Satisfaction rates among finalists higher than for Apple customers
  10. 10. Millions of dollars in funding facilitated
  11. 11. $1M in cash prizes across 16 winners
  12. 12. Connections resulting in significant angel and VC financing</li></ul>3<br />
  13. 13. In first year, MassChallenge secured support from leaders in each area of MA innovation ecosystem<br />4<br />Government<br />Entrepreneurs<br />Angels & VCs<br />MassChallengeStartup Catalyst<br />People<br />Businesses &Foundations<br />Universities<br />
  14. 14. 5<br />MassChallenge Accelerator: 111 startups, 22K+ ft2 office space, 200+ mentors, $1M in grants<br />446 applications received<br /><ul><li>22,000+ ft2 shared office space
  15. 15. 330+ people in 111 startups
  16. 16. 5,000+ hours of mentoring
  17. 17. 200+ mentors
  18. 18. 10+ new companies incorporated
  19. 19. 300+ judges & mentors engaged
  20. 20. $20M+ external funding secured by startups by Jan 31, 2011
  21. 21. ~300 jobs created by startups by Jan 31, 2011</li></ul>Aug-Oct<br />Accelerator<br />111 startups mentored<br />Oct. 21<br />Final Ceremony<br />$1M awarded<br />April 2011<br />6 month review<br />Updated metrics TBD<br />
  22. 22. 446 teams applied to enter MassChallenge, representing 26 countries and 24 states<br />446 startups = world’s largest Startup Competition<br />Notes: All values self-reported based on “primary industry” and “current headquarters”. <br />6<br />
  23. 23. Expert judges selected 111 finalists to participate in the 3 month MassChallenge accelerator program<br />111 startups = world’s largest Startup Accelerator<br />Notes: All values self-reported based on “primary industry” and “current headquarters”. <br />7<br />
  24. 24. Feedback from startups very positive, with finalist satisfaction exceeding Apple customer enthusiasm<br />Net Promoter Score = % promoters - % detractors<br />Net Promoter Score (NPS) US leaders (2010)<br />"How likely would you be to recommend MassChallenge to a friend?" (10 = most likely)<br /><ul><li>USAA 81%
  25. 25. Apple 78%
  26. 26. Amazon 71%
  27. 27. Trader Joe’s 68%
  28. 28. Wegman’s 67%</li></ul>N=46<br />78.3%<br />Notes: MassChallenge NPS calculated from data collected in Jan 2011 finalist survey<br />Comparative NPS data from: http://www.netpromoter.com/np/compare.jsp<br />8<br />
  29. 29. MassChallenge organized 250+ events in 2010, fostering connections and educating 5,000+ people<br />Events Organized by MassChallengein 2010<br />How satisfied are you with your current ACCESS to each of the following? (10 most satisfied)<br />Notes: Before data from April 2010 (N=86),after data from November 2010 (N=49)<br />9<br />
  30. 30. Finalists indicate improved access to key resources, especially to peers and funding sources <br />How satisfied are you with your current ACCESSto each of the following? (10 most satisfied)<br />+32%<br />+34%<br />+22%<br />+16%<br />Notes: Before data from April 2010 (N=86),after data from November 2010 (N=49)<br />10<br />
  31. 31. Finalists credit MassChallenge with increasing their access, especially those that engaged actively<br />11<br />To what extent has MassChallenge improved your access to key resources? (10 being very significantly)<br />~30% better improvement for engaged teams<br />Notes: Before data from April 2010 (N=65),after data from November 2010 (N=48)<br />

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