Let's Get to Work: Wishing Success to ALL Entrepreneurs

At MassChallenge we are taking a huge collective breath between second round judging and  launching our Accelerator Program for Finalists.  It’s a great time to look back at what we have accomplished so far.  
The MassChallenge Competition launched successfully, attracting 440 Entries, from 21 different U.S. States and 21 different countries. Further breaking down the entries by region, 79% of entries originated from our own MA ecosystem, 13% came from other states, and 8% revealed international origins.  Team entries spanned across a variety of industries, with teams self-identifying as 41% high tech, 11% social impact, 16%  general, 18% healthcare, and 14% clean tech.  We found that the overwhelming majority (82%) of entrants were men, so it has become a goal to encourage more women to submit their ideas next year.
After over 150 judges evaluated the entrant teams’ pitches, 310 Semifinalist Teams competed in the second round of judging.  The Semifinalist Teams continued to hail from a range of states and countries, with 76% from MA, 14% from other U.S. states, and 10% from other countries.  The SemiFinalists also worked in different areas of industry, including 12% from Energy and Clean Tech, 56% in High Tech, 21% in Life Sciences/Healthcare, 17% in Social Impact, and 10% in General.
Over 150 expert judges divided into panels of approximately 3-5 judges evaluated the SemiFinalists in a Pitch and Q&A session in the second round of judging.  From the 310 SemiFinalist Teams, 110 emerged to develop their businesses in the Accelerator Phase.  U.S. teams prevailed in the second round, as all teams but one from Israel and one from Russia come from the U.S.  It will be another goal next year to recruit even more international teams that will be able to continue into the Accelerator Phase.  78% teams hail from MA, and other teams will travel from CA, AZ, WI, PA, NC, LA, NJ, NY, VT, MD, and AR to participate in the accelerator.  Industry representation played out as follows: Energy & Clean Tech: 14%; High Tech: 46%; Life Sciences/Healthcare: 19%; Social Impact: 8%; General: 12%.
As we look back at these months of MassChallenge accomplishments, what stands out the most is the number of great ideas and capable entrants.  All Entrants and SemiFinalists should know that the judge’s acknowledged how tough the competition and that there were too many quality teams.  Thus, the judges’ decisions should not stand as any indictment against your idea or your business.  If your idea is your passion and your goal, you should continue to pursue your startup!  Hopefully you will be able to use the feedback you received to develop your idea and to execute, and MassChallenge remains interested in supporting you to the best of our capacity.
Waxing a bit philosophically, we, as entrepreneurs, are all faced with challenging circumstances. Indeed, we are defined by challenges.  It is our responsibility to rise above those circumstances to shape our own destiny.  Successful entrepreneurs remain consistently "at cause", refusing to be defined by any circumstance.  Instead, they insist on defining their own circumstance despite obstacles in their path.  
Thus, adversity is a given.  "Failure" happens only when you quit before you declare success. We have not and will not declare any of our entrants to be out for the count, and we fully expect many of our teams to continue with their endeavors and to create hugely successful businesses.  If you persist and follow your passion, we expect you to succeed!
Looking forward, chin up, we are all excited at what the next months hold.  The Finalists move into our space at ONE Marina Park Drive, and we at MassChallenge continue to develop a curriculum that will move the businesses forward.  We can’t wait to watch these young businesses succeed, and to see the impact they will have.  With passion, persistence and access to valuable resources, we can achieve significant impact.  By way of example, we are hoping to promote intercultural understanding and global citizenship, make greener energy cost-competitive with fossil fuels, improve drug discovery for cancer, provide low-cost diagnosis for all, motivate teachers by tracking student academic growth, revolutionize the food value chain, purify water at lower cost, make access to music easier, fit women with better bras, help people achieve life goals, promote healthy living and healthy eating, improve consumers’ experience in renting anything, make nurses (and thus hospitals and patients) happier, provide the developing world with lab equipment, redefine the fashion industry, and create jobs in high growth areas.  
And that’s just the tip of the iceberg.  Let’s get to work!