2011 01-31 mass challenge overview and metrics
by masschallenge on Feb 01, 2011
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MassChallenge runs a $1M annual startup competition and accelerator to catalyze the launch and success of high-growth, high-impact new businesses. The competition is open to anyone in the world, with ...
MassChallenge runs a $1M annual startup competition and accelerator to catalyze the launch and success of high-growth, high-impact new businesses. The competition is open to anyone in the world, with any new startup, in any industry. Every entrant receives training, feedback, PR and networking support via expert volunteers from partner organizations, and the highest-potential startups receive 3 months of intensive mentorship and free services in 22,000 sq ft of premium office space in Boston's Innovation District -- all free of charge, with no strings attached. In 2010, MassChallenge's inaugural year, MassChallenge received 450 applications from 26 countries and 24 states, and supported just over 330 entrepreneurs in their accelerator program. Since the start of the first accelerator in August 2010, MassChallenge teams have secured $20M+ in outside funding, representing leverage of more than 40x on the public grants provided by Governor Deval Patrick to help launch the pilot program in Massachusetts. The startups involved have already produced almost 300 direct jobs, representing less than $2,000 public funding per job created, and their highest-growth stages still lie ahead. New support from the Deshpande Foundation, the Blackstone Charitable Foundation, the Fallon Company, Johnson & Johnson’s Corporate Office of Science & Technology (COSAT), the Microsoft Corporation and others will enable MassChallenge to support 1,000+ entrepreneurs directly in 2011, and provide a platform for significant national expansion in 2012 and beyond. You can learn more at www.masschallenge.org
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