PTC partnered with MassChallenge Boston to better create intrinsic relationships with Boston’s innovation ecosystem, giving the computer software and services company access to emerging technologies and creative minds.
The Goal
As a leader in augmented reality (AR) and Industrial IoT, PTC had the goal of connecting with innovators outside its organization but in the same industry. PTC also wanted to highlight Boston as the global center of excellence for enterprise AR.
The Solution
By partnering with MassChallenge in 2016, PTC received access to early-stage startups in the high-tech space and explored potential advisory, collaboration, and acquisition opportunities before these businesses hit the market.
The Results
In 2017, MassChallenge introduced PTC to Waypoint, a startup that uses augmented reality to unlock the next wave of human productivity. Launched out of MIT and Harvard, Waypoint participated in the 2017 MassChallenge Boston accelerator to connect with prospective customers and further enhance their technology, which enables businesses to easily create, edit, and deploy AR applications without needing AR developers or expertise.
Both PTC and Waypoint share a vision to create a smarter and more connected world. With the number of enterprises focusing on AR at an exponential rate, the two organizations discovered an opportunity to create even more value in the space. In April 2018, PTC announced it would be acquiring Waypoint and integrating the venture into its thriving AR business.
“MassChallenge provided us with an unparalleled opportunity to connect with some of the world’s largest and innovative companies like PTC. In addition to providing us the well-known benefits of MassChallenge (free office space, in-kind support, amazing mentors, etc.), the MC staff acted as an extension of our business development team – proactively seeking out useful connections for our startup and setting up meetings with senior level executives we may have never been able to get on our own. For an enterprise software company, this was incredibly valuable support.”
– Umar Arshad, CEO & Cofounder, Waypoint
About PTC
PTC helps companies around the world reinvent the way they design, manufacture, operate, and service products in and for a smart, connected world. In 1986 we revolutionized digital 3D design, and, in 1998, were first to market with Internet-based product lifecycle management. Today, our leading industrial innovation platform and field-proven solutions enable you to unlock value at the convergence of the physical and digital worlds. With PTC, manufacturers and an ecosystem of partners and developers can capitalize on the promise of the Internet of Things and augmented reality technology today and drive digital transformation.