Tim Hyer from Rentcycle on Is Boston the Next Silicon Valley?

Greetings from the East Coast!  For (at least) the next three months, Rentcycle will be a bicoastal startup.  We're still based in San Francisco, but now we have a physical presence in both The Bay Area and the city of Boston -- the best of both worlds!  Who do we have to thank for this good fortune?  Along with the state of Massachusetts, the city of Boston and several key sponsors, a budding organization called MassChallenge is shaking things up in Bean Town.

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The easiest way to describe MassChallenge is a startup that helps other startups.  In fact, the mission is to "help early-stage entrepreneurs win."  Founded by John Harthorne, David Constantine and Akhil Nigam, the goal of MassChallenge is to connect entrepreneurs with the resources they need to launch and succeed immediately.  In doing so, they've launched the world's largest global startup competition.  Part competition, part accelerator, MassChallenge pools positive elements from the best startup programs into a whole new model.  440 teams from 26 countries competed to make the final round in Boston.  Along with 110 other teams, Rentcycle was named a finalist (score!) so we quickly booked a flight from SFO to Logan International.  For the next three months, we'll enjoy access to a slew of phenomenal FREE (yes, free) resources.  From world class office space overlooking the Boston Harbor and skyline (see below photo for the view from my desk), to professional legal advice and access to the Northeast's brightest entrepreneurs, MassChallenge is a bootstrapped startup's dream!  After three months of seminars and workshops preparing teams to pitch and grow their businesses, finalists will compete for $1M, distributed as grants to top performing companies.  If this isn't enough, do you want to hear the best part of all?  There are absolutely no strings attached!  As an independent not-for-profit, MassChallenge is solely motivated to support and strengthen entrepreneurs.  By investing in innovation and entrepreneurship, MassChallenge is defining the next generation of economic growth engines, which is one of the reasons the program has been backed by both Massachusetts Governor Deval Patrick and Boston Mayor Thomas M. Menino.  The hope is that this program will attract new, innovative companies to the Boston area.  Well, I've gotta say it's working! 

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Yesterday's orientation kicked off the program with a bang.  After enthusiastic presentations by the program's founders, finalist teams got a chance to meet each other and get acquainted with our new home.  Set on the 14th floor of the beautiful Fan Pier building, the space is a massive 22,000 sqft layout of cubicles, conference rooms and the world's longest continuous whiteboard painted on the perimeter of all interior walls (joking aside, MassChallenge is actually applying to The Guiness Book to take this prize).  There's even a gameroom, complete with pool, pingpong and foosball and a full kitchen stocked with free beer (courtesy of The Boston Beer Company) -- what more could a startup ask for??  The night capped off with the first of many networking events to take place in the Fan Pier building over the next few months.  In attendence were some of Boston's premier entrepreneurs, investors, executives, media, lawyers -- a great chance to make new connections and learn from the best.  A perfect way to kick things off!

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I've been beyond impressed by what Boston has to offer startups -- a powerful ecosystem of universities, a network of strong companies, a pool of young/educated talent and a vibrant city backdrop.  An ideal hub for innovation, MassChallenge is catalyzing positive change and putting Boston on the entrepreneurial map.  As one of only a few teams from California, many people asked me how Boston compares to Silicon Valley as a hub for innovation.  For me, innovation is more about the people than the place.  Although I will have a better sense for this three months from now, of the people I met, Boston is right up there in terms of hungry, innovative, intellectually curious minds.  I'm looking forward to immersing myself further in both communities and will try to have a clearer answer in 3 months.
Until then, it's time to build 111 successful businesses.  Look out for big things to come from MassChallenge!
 
This post was reposted with permission from the author. For the original post check out Tim's blog.
 
About Tim Hyer: Tim Hyer is the founder of Rentcycle, a startup based in San Francisco. Rentcycle helps local rental businesses get discovered and lets consumers compare options and book reservations online. The mission is to waste less, share more.