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MassChallenge

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  • 1. MassChallenge 2012 UnTapped #MCUnTappedDRAFT January 2010
  • 2. MassChallenge is fostering innovative growth via a startup accelerator and competition MassChallenge Startup Accelerator Largest-ever startup accelerator and competition and the first to support high-impact, early-stage entrepreneurs with no strings attached MassChallenge mission To catalyze a startup renaissance Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 2
  • 3. The startup accelerator connects innovatorswith supporters and resources throughout 2012 Accelerator Dates Annual $1M StartupJan 2012 Accelerator and Competition Prepare MassChallengeMarch 1 • Anyone can enter, from Accept applications anywhere, with any startup & prepare entrantsApril 11 • Expert judges identify highest 2 rounds of judging impact, most viable startupsMay 17 Prepare finalists • Everyone gets training and for accelerator access to networks & resourcesJune 27 • Finalists are matched with Accelerate mentors and free resources finalists Oct 1 • Highest impact, most viable Final Judging startups win awardsWeek of Final ceremonyOct 22 • Sponsors, partners, alumni are integrated into all stages Engage all participants and alumni Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 3
  • 4. MassChallenge is largest-ever program of its kind and has demonstrated outstanding results MassChallenge launch event with Governor Deval Patrick, Boston Mayor Thomas Menino, and passionate innovators.• Largest-ever startup competition and accelerator • 733 applicant startups from 24 countries and 34 states • Over 600 different judges and mentors applied to participate• Concierge-like support for 125 startups • Office space, mentorship, press/media support and much more • Satisfaction rates among finalists higher than for Apple customers• President Obama honors MassChallenge for results • Identified as one of best programs in US for high-growth startups• 2010 class: $100M+ raised & 500 jobs in 12 months Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 4
  • 5. MassChallenge has secured support from leaders in each area of innovation ecosystem • US President Barack Obama • MA Governor Deval Patrick• Core Sponsors/Advisors: • BOS Mayor Thomas Menino • Desh Deshpande • 40+ VC and Angel funds • Josh Boger Government involved as mentors/judges • Ken Morse • 20 of top 100 VC funds• 733 applications Entrepreneurs Angels & VCs • Dozens of individual angels 125 startups as finalists MassChallenge Startup Catalyst• 250+ events including Businesses & • Microsoft, Blackstone, People Verizon and 15+ more training and job fairs Foundations• Media coverage on • Desphande Foundation Universities Fox Business, CNBC etc. • Kauffman Foundation • 30+ Universities engaged to provide funding, research, students and mentors • Direct support from Presidents of Umass, MIT Babson, WPI, BU, Northeastern, and Tufts • Strong support via entrepreneurship centers at Harvard, Dartmouth & many more Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 5
  • 6. Feedback from startups very positive – 2010 finalistsatisfaction exceeds Apple customer enthusiasm Net Promoter Score = % promoters - % detractors"How likely would you be to recommend Net Promoter Score (NPS) MassChallenge to a friend?" US leaders (2010) (10 = most likely) • USAA 81% 78.3% • Apple 78% • Amazon 71% • Trader Joe’s 68% • Wegman’s 67%Notes: MassChallenge NPS calculated from data collected in Jan 2011 finalist surveyComparative NPS data from: http://www.netpromoter.com/np/compare.jsp Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 6
  • 7. MassChallenge 2012 LaunchAttend the MassChallenge Launch!• Inviting a select number of sincere potential applicants launch event• Network with top VIPs• Send in your startup’s pitch – focus on IMPACT!! Apply: http://bit.ly/LaunchMC Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 7
  • 8. MassChallenge is designed to engage andbenefit the entire ecosystem Government Entrepreneurs Angels & VCs Key opportunities STARTUP • Catalyze startup renaissance CATALYST • Promote jobs and growth People Businesses • Showcase leadership globally Universities How to get involved Sign up at www.masschallenge.org for updates Partner Sponsor• Volunteer as judge, speaker or mentor • Multiple sponsorship levels are available• Help manage and run events • MassChallenge is a 501(c)(3) nonprofit Inform Enter 2012• Spread word to potential entrants, • 733 entrants in 2011 mentors, judges and sponsors • Start vetting idea(s) and forming teams Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 8
  • 9. Selected 2010 and 2011 Finalist ProfilesFINALIST INDUSTRY SUMMARYAltaeros Energies Energy Airborne wind energyBIOARRAY Therapeutics Life Sciences Breast cancer diagnosticsBlank Label Consumer Affordable custom clothingDiagnostics for All Life Sciences Low-cost medical diagnostic deviceHer Campus Media Consumer #1 online magazine for college womenLocalocracy High Tech Online Civic EngagementLocately High Tech Mobile analytics platformNovophage Life Sciences Industrial biofilm protectionOsComp Systems Energy Natural gas compressionOsmoPure Social Impact Water purificationResolute Marine Energy Energy Wave-powered desalinationSanergy Social Impact Sanitation center networkSeeding Labs Social Impact Empowering scientists in 3rd worldSproxil Life Sciences Stopping counterfeit drugsTherapeutic Systems Life Sciences Treatment of autism symptoms Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 9
  • 10. Altaeros Energies uses advanced airborne turbinesto produce low cost renewable energy Next Generation Of Wind Energy • Uses safe and reliable aerospace technology to lift wind turbines into sky • At higher altitude, winds are much stronger and more consistent • Offers easy mobility & rapid deployment at remote, military, and offshore sites • Can lower cost of energy by up to 65% http://altaerosenergies.com/ relative diesel generators or renewable tech Highlights• Team of recent MIT and Harvard graduates has raised several hundred thousand dollars to test its technology• Aerostat design could produce 2-5x as much power as pole- mounted, 350ft tall turbine in same location• 2010 and 2011 MassChallenge Finalist Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 10
  • 11. BIOARRAY attacks breast cancer with a newgeneration of personalized diagnostic tests Customized Detection and Therapy • Cutting-edge clinical diagnostics of breast cancer • Helps patients and their doctors identify more effective treatment options sooner • Integrates multiple gene expression platforms http://bioarray.us/ and multiple biomarkers to produce an accurate, quantitative diagnostic result Highlights• Founded by all-female team of experts in the field of biomarker discovery and breast cancer research• Core technology has been extensively verified in peer-reviewed academic literature• 2011 MassChallenge Finalist Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 11
  • 12. Blank Label revolutionizes the fashion industry withaffordable mass customization Pioneering Choice in Fashion • Empowering consumers by letting them design their own dress shirts • Variety of fabrics and collar, cuff, and pocket styles • Under $100 per shirt • Customers use sophisticatedhttp://www.blanklabel.com/ “configurator” software to design their own dress shirts Highlights• Led by students out of Babson Summer Venture Program• Featured in the New York Times, BusinessWeek, Stuff, MSNBC, Forbes, Fox News, Boston Globe, and more• 2011 MassChallenge Finalist Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 12
  • 13. Diagnostics for All saves lives via low-cost, easy-to-use, point-of-care diagnostic devices Diagnostic devices for 3rd world • Made of paper: simple and effective • Light-weight, durable, and low-cost • Requires minimal training, practically no sample preparation, and no electricity or additional equipment High-quality • Easy to use and easy to read diagnostic device • Reliable and Safe made of paper • Single use, burn when done http://dfa.org/ Highlights • Enable better medical treatment in emerging markets • Avoid unnecessary, harmful and expensive drug deployment by increasing availability of accurate diagnosis devices • Medical care is foundation for stability and community • 60% of developing world lives beyond reach of urban hospitals Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 13
  • 14. Her Campus Media reaches college women acrossthe nation with content generated by students A Collegiette’s Guide to Life • #1 online magazine for college women with branches at 125+ colleges • 9 million college women in USA with spending power of $300B+ per year • Platform for rising student journalists • Feeder for top jobs and internships http://hercampus.com/ • HerCampus combines online and offline opportunities to attract and engage Highlights• Founded by 3 female Harvard grads; named as Inc. Magazines 30 Under 30 Coolest Young Entrepreneurs• Highly charismatic and eloquent team with history of success• 2011 MassChallenge Finalist Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 14
  • 15. Localocracy is an online town common to connectresidents with local media and govt Online Civic Engagement • Gather data on the issues that matter • Virtual voting, commenting, Q&A with • Confirmed Registered Voters • Real people using real names • Make government more accessible Making • Gather feedback quickly and efficiently government • Understand how residents will react more accessible • Connect directly with constituents http://localocracy.org/ Highlights: Promoting Civic Information and Action• Founded by 2010 UMass Amherst Grad – TEDx Boston speaker• 2010 MassChallenge Finalist – has won multiple other prizes• Secured Boston Globe as customer, closed seed round @ $150K• 2010 and 2011 MassChallenge Finalist Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 15
  • 16. Locately’s technology makes sense of GPS datafrom opted-in mobile phones Understanding where people go • 100% opt-in • Consumers volunteer to share their GPS with Locately • In return they get rewards: free cash, giftcards, or entry into prize draws • Like web analytics for the real world • Understanding where people shop Pioneering the science ofconsumer location analytics. • How they get to/from a given location • Which stores they drive past http://locately.com Highlights• Founded by recent Harvard/MIT/Stanford grads• Raised $300K in angel funds and closed key partnerships• 2010 MassChallenge $100K winner Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 16
  • 17. Novophage provides the biological solutions forindustrial infrastructure problems Protecting Against Biofilms • Developing strong anti-biofilm solution • Biofilms are slimy communities of bacteria that contaminate heating/cooling systems, food-processing plants, hospitals, etc. • Patent-pending technology utilizes a biological nanoparticle that uses biofilmhttp://www.novophage.com/ bacteria’s own machinery to create active agents that act against the biofilm itself Highlights• Scientific founder is 2010 Harvard Med School grad & 2007 MIT PhD; honored as a top young innovator by MIT Tech Review• Extremely strong team, mix of young talent and experience• Recently raise Series A financing for $5.75M• 2010 MassChallenge Runner Up Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 17
  • 18. OsComp reduces commercial and environmentalcosts with breakthrough compression technology Future of Natural Gas Production • Product will enhance the productivity of natural gas wells and more • Extend life of well by 15-20 years • Delivers broad environmental benefits • Eliminates nearly all well emissions • 34%+ Higher efficiency = reduced CO2www.oscomp-systems.com emissions and reduction in capital costs Highlights• Founded by 2010 MBA MIT Sloan School of Management• Closed $10M of orders w/in 18 months of founding; 10 full-time employees (plus contractors), 95% of inputs and components are manufactured in US, recently raised $1.5M private investment• 2010 MassChallenge $50K winner Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 18
  • 19. OsmoPure is a low-cost, highly-portable waterpurification device using simple membrane filtration Clean Water in a Pinch • Easy to use • Fill ordinary plastic bottle with water, screw on OsmoPure, squeeze bottle, and drink water • Effectively removes all contaminants • Durable, lightweight, does not clog http://osmopure.com • Inexpensive; less than $2 to produce, lasts 1 month under normal usage Highlights• Founder is 2009 grad of Rensselaer Polytechnic Institute; charismatic engineer with clever, high-potential product• Secured key partnerships• 2010 MassChallenge $100K winner Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 19
  • 20. Resolute Marine Energy will complete off-grid wave-driven desalination system by 2012 Wave-driven desalination • Superior design and execution • Low capital and production cost • Off-grid operation using only renewable resources Energy from waves can generate clean • Scalable design using reverse osmosis water for coastal • Huge market with unmet needs communities in • Current diesel-driven systems inferior developing nations • Already partnered with municipality in http://resolutemarine.com/ South Africa to launch pilot projects Highlights • Triple bottom line: financial, social, environmental • Generate large quantities of clean fresh water for water-stressed, off-grid coastal communities in developing nations where a solution is urgently needed Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 20
  • 21. Sanergy fights a public health crisis by turning it intoan economic opportunity Ending Sanitation-Linked Diseases • 2.6 billion people lack basic sanitation • Created affordable sanitation centers • Pioneering innovative business model • Franchise network of sanitation centers across the slums to local entrepreneurs • Collect the waste from each center and http://saner.gy/ convert to electricity and fertilizer Highlights• Diverse team of graduate and undergraduate students from MIT, University of Nairobi, Tufts University, and University of Cambridge• Winner of the 2011 MIT 100K Business Plan Contest and 2011 Echoing Green Fellowship• 2011 MassChallenge Finalist Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 21
  • 22. Seeding Labs transforms scientific researchat universities across the developing world Talent is Everywhere • Affordable infrastructure • Reclaim U.S. surplus lab equipment • Reduce waste • Affordably equip whole institutions • World-class training • Exchange programs with premiere universities and biotech/pharma www.seedinglabs.org • A global network • Scientists train, mentor and collaborate Highlights• Tools and training for scientists in 16 countries already: • 4000 students getting hands-on training • 216% increase in research funding • 60+ publications, 1 patent, 1 medical diagnostic Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 22
  • 23. Sproxil’s MPA™ solution helps consumers avoidbeing tricked into buying fake medication Don’t get ripped off at the chemist • Win + Win + Win • Consumers avoid harmful fake meds • Pharma companies increase sales • Only counterfeiters lose out • Scalable • Easy-to-use text message • Leverages explosive cell phone growth • Accessible to all • Free to consumer via ROI for pharma Highlights • Tackles $200 billion market opportunity • 700,000 people die worldwide due to fake TB & Malaria meds • Pharma companies lose $200 B a year due to fake drug sales • Sproxil closes $1.79m Series A and expands to India Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 23
  • 24. Therapeutic Systems helps people with autismbecome more engaged in life Medical Devices to Reduce Anxiety • Novel vest-like device inflates to apply uniform, deep-pressure – like a hug • Discreetly and effectively apply deep pressure to an individual anytime • Demonstrated to reduce anxiety and enable greater engagement in life • ~4M Americans with autism; 1 in 100 children diagnosed with autismhttp://therapeuticsystems.com Highlights• Highly charismatic UMass Amherst grad, elegant, seemingly simple solution and inspiring outcomes• Compelling story: parent demand brought device out of lab, which had been developed for over 6 years at UMass Amherst• 2011 MassChallenge Finalist Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 24
  • 25. 2011 Entrant Metrics Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 25
  • 26. The number of participants in MassChallenge 2011 nearly doubled over MassChallenge 2010 2010 2011# Startups Almost 65% increase in applications over 2010, And almost double the number of participants Notes: All values self-reported based on “primary industry” and “current headquarters”. Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 26
  • 27. 733 startups applied to enter MassChallenge 2011, representing 24 countries and 34 states 89 733 147 international total Other USA Almost 65% increase in entrants over 2010Notes: Self-reported for “Primary Industry” and “Current Headquarters”. Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 27
  • 28. 67% of 2011 applicants are headquartered in MA; industry breakdown varies significantly by location 733 MassChallenge applications by headquarters and industryNotes: Self-reported for “Primary Industry” and “Current Headquarters”. Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 28
  • 29. 2011 Finalist Metrics Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 29
  • 30. The 125 MassChallenge finalists for 2011 represent 6 countries and 15 states, NY prominent 6 125 total 24 international (95 from MA) Other USANotes: Self-reported for “Primary Industry” and “Current Headquarters”. Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 30
  • 31. 76% of 2011 finalists are headquartered in MA; industry breakdown varies significantly by location 125 MassChallenge finalists by headquarters and industryNotes: Self-reported for “Primary Industry” and “Current Headquarters”. Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 31
  • 32. MassChallenge Finalist startups are diverse on keymetrics 125 MassChallenge finalists by number of founders per category 42% with 41% with at least 1 at least 1 female minority founder founderNotes: All data self-reported via MassChallenge administered survey May 5, 2011. Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 32
  • 33. 2010 Metrics Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 33
  • 34. 446 teams applied to enter MassChallenge,representing 26 countries and 24 states 446 startups = world’s largest Startup CompetitionNotes: All values self-reported based on “primary industry” and “current headquarters”. Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 34
  • 35. Expert judges selected 111 finalists to participate inthe 3 month MassChallenge accelerator program 111 startups = world’s largest Startup AcceleratorNotes: All values self-reported based on “primary industry” and “current headquarters”. Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 35
  • 36. Feedback from startups very positive – 2010 finalistsatisfaction exceeds Apple customer enthusiasm Net Promoter Score = % promoters - % detractors "How likely would you be to Net Promoter Score (NPS) recommend MassChallenge to a US leaders (2010) friend?" (10 = most likely) N=46 • USAA 81% 78.3% • Apple 78% • Amazon 71% • Trader Joe’s 68% • Wegman’s 67%Notes: MassChallenge NPS calculated from data collected in Jan 2011 finalist surveyComparative NPS data from: http://www.netpromoter.com/np/compare.jsp Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 36
  • 37. MassChallenge organized 250+ events in 2010,fostering connections and educating 5,000+ people Events Organized How satisfied are you with by MassChallenge your current ACCESS to each of in 2010 the following? (10 most satisfied)Notes: Before data from April 2010 (N=86),after data from November 2010 (N=49) Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 37
  • 38. 2010 finalists indicate improved access to keyresources, especially to peers and funding sources How satisfied are you with your current ACCESS to each of the following? (10 most satisfied) +32% +34% +22% +16%Notes: Before data from April 2010 (N=86),after data from November 2010 (N=49) Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 38
  • 39. 2010 finalists credit MassChallenge with increasingtheir access, especially those that engaged activelyTo what extent has MassChallengeimproved your access to key resources? ~30% better(10 being very significantly) improvement for engaged teamsNotes: Before data from April 2010 (N=65),after data from November 2010 (N=48) Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 39