MassChallenge

MassChallenge is a global, zero-equity startup accelerator, founded in Boston, Massachusetts in 2009.[1] As of 2021, MassChallenge has accelerated more than 2,928 startups that have raised more than $8.6 billion in funding and generated $3.6 billion in revenue.[2]

MassChallenge
Formation2009
Type501(c)(3)
HeadquartersBoston, Massachusetts
Location
Websitemasschallenge.org

MassChallenge is headquartered in Boston's Seaport District in the Innovation and Design Building, and has additional U.S. locations in Texas and Rhode Island, as well international locations in Israel, Mexico, and Switzerland.[3]

History

MassChallenge co-founders John Harthorne and Akhil Nigam were working as strategy consultants at Bain & Company during the global financial crisis in 2008. It was at this time that John and Akhil developed the concept for MassChallenge, a not-for-profit startup competition that would help jumpstart the global economy by supporting entrepreneurs around the world.[4] MassChallenge secured early support from successful entrepreneurs like Desh Deshpande and Joe Fallon, the public sector including Thomas Menino the then-Mayor of Boston and the Commonwealth of Massachusetts, and large organizations like The Blackstone Charitable Foundation and Microsoft.[5]

During its first Boston-based cohort in 2010, MassChallenge accelerated 111 startups.[6] In 2020, MassChallenge accelerated 470 startups with $458 million total funding raised across its eight accelerators worldwide.[7] MassChallenge accepts less than 10% of all applicants.

Notable alumni
  • Ksplice, an open-source extension of the Linux kernel that allows security patches to be applied to a running kernel without the need for reboots
  • RelayRides, a peer-to-peer carsharing marketplace
  • JoyTunes, a music app producer[8]
  • Thinx, maker of period-proof underwear[9]
  • Sproxil, a producer of app-based anticounterfeiting measures[10]
  • Drync, a wine mobile app for iOS platforms[11]
  • Her Campus, an online newsmagazine for college women[12]
  • Global Research Innovation & Technology, manufacturer of the Leveraged Freedom Chair[13]
  • LiquiGlide, a plant-based liquid-impregnated surface coating
  • RallyPoint, a professional network for US military members[14]
  • Ministry of Supply, a business wear men's fashion brand[15]
  • Moneythink, a non-profit organization that places college volunteers in high school classrooms to teach courses in financial literacy and entrepreneurship[16]

References
  1. "About". masschallenge.org. Retrieved 2019-02-14.
  2. "'Impact Report 2020' by MassChallenge | Readymag". Impact Report 2018. Retrieved 2019-02-14.{{cite web}}: CS1 maint: url-status (link)
  3. Delaney, Erin. "MassChallenge Opens New Home for Innovation". MassChallenge.org. MassChallenge. Retrieved 17 June 2014.
  4. "MassChallenge's John Harthorne Explains How Startups Can Fix The World". TechCrunch. Retrieved 2019-02-14.
  5. Colao, JJ (13 March 2012). "MassChallenge: A Colossal Startup Accelerator That's 100% Free". Forbes.
  6. Kirsner, Scott (24 May 2011). "MassChallenge start-up competition picks 125 finalists for 2011". Boston.com. Retrieved 12 November 2012.
  7. "'Impact Report 2020' by MassChallenge | Readymag". Impact Report 2020. Retrieved 2020-10-06.{{cite web}}: CS1 maint: url-status (link)
  8. Empson, Rip. "JoyTunes Wants To Teach You To Play Real Instruments With Interactive Video Games". TechCrunch. Retrieved 12 November 2012.
  9. "Thinx". MassChallenge.org. Retrieved 14 January 2018.
  10. "Sproxil". MassChallenge.org. Retrieved 18 June 2014.
  11. "Drync". MassChallenge.org. Retrieved 18 June 2014.
  12. Alspach, Kyle. "Her Campus Media gets trademark for term 'collegiette'". Boston Business Journal. Retrieved 12 November 2012.
  13. "GRIT". MassChallenge.org. Retrieved 18 June 2014.
  14. "Rallypoint". MassChallenge.org. Retrieved 18 June 2014.
  15. Alspach, Kyle. "Ministry of Supply breaks Kickstarter fashion record with $300K+ raised". Boston Business Journal. Retrieved 12 November 2012.
  16. "Moneythink". MassChallenge.org. Retrieved 2014-06-18.
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