Texas
24 January 2019

MassChallenge Texas Announces Second Austin-Based Startup Accelerator with $500K in Equity-Free Cash Awards

January 24, 2019 (AUSTIN) -  MassChallenge, a global network of zero-equity startup accelerators, yesterday opened applications for its second Texas-based accelerator for high-impact, early stage startups across all industries from anywhere in the world. The deadline to apply is March 13, 2019 @ 11am CT. Interested startups can apply at: https://accelerate.masschallenge.org.

Applications were opened at a public launch event on January 23, 2019 at the Austin Film Society. MassChallenge Texas Managing Director Mike Millard lead the event through a short presentation that outlined the year two program.

“After our first year, it is clear that through the MassChallenge model we can attract, advance, and accelerate the missions of startups, corporates, investors, and all ecosystem collaborators right here in Texas,” said Mike Millard, Managing Director of MassChallenge Texas. “For our second year, we are creating a more robust and engaging program designed to help all our startups grow and succeed.”

MassChallenge Texas will support up to 100 startups during the accelerator, which will run from June through October 2019. During the accelerator, participating startups will receive a 6-month complimentary community membership to WeWork, access to industry experts and mentors, bespoke curriculum, access to top corporations and more, all at zero cost and for zero equity. It also provides participating startups an in-kind resource network worth more than $150,000 in deals and discounts. To further support the most promising early-stage startups, MassChallenge Texas is expanding the program’s curriculum to provide tailored instruction on topics like fundraising, entity selection, and designing corporate partnerships. At the culmination of the accelerator, top startups will compete for cash prizes and in-kind support, worth more than $500,000.

In addition to the tangible benefits of the MassChallenge Texas program, Millard focused on the value of the MassChallenge expert community and the foundation they provide the startups during the program. For individuals interested in learning more about the MassChallenge expert opportunity visit https://accelerate.masschallenge.org.

“Being part of MassChallenge Texas helped us focus, set goals and properly execute upon them. We loved meeting the other companies in the cohort and appreciate the community that surrounded us during this time,” said Candace Leak, CEO and Founder of Loanables a MassChallenge Texas 2018 participant. “The expert program was incredibly beneficial, connecting us to industry and practical knowledge from across the state. The environment the MCTX team facilitated was extremely motivating. I’m excited to see what they do this year meet the 2019 cohort.”

In its first cohort in 2018, MassChallenge Texas accelerated 84 companies that have raised more than $30M in funding, generated $20M in revenue, and created 524 jobs. MassChallenge Texas is supported by a public-private partnership that includes founding corporate partners Southwest Airlines, TMAC, WeWork, USAA, and Upstream. Together, MassChallenge Texas and its partners will strengthen and grow the innovation ecosystem across the state and connect the ecosystem to MassChallenge’s global network of programs in Boston, Israel, Mexico, Rhode Island, Switzerland, and the UK. New partners coming to the table include BAE Systems, BHP, Ingram Micro, and the SPURS.

To reach the startups and experts interested in the MassChallenge Texas 2019 program, the team will launch a statewide roadshow with in-person visits scheduled in Austin, North Texas, El Paso, San Antonio, San Marcos, Bryan/College Station, and Houston. The team is also launching a virtual info session tour to connect with entrepreneurs beyond and in other areas of Texas including Abilene, Lubbock, and Waco. Check the MassChallenge Texas Facebook page for their most up-to-date travel plans.

About MassChallenge

MassChallenge is a global network of zero-equity startup accelerators. Headquartered in the United States with locations in Boston, Israel, Mexico, Switzerland, Texas, and the UK, MassChallenge is committed to strengthening the global innovation ecosystem by supporting high-potential startups across all industries, from anywhere in the world. To date, 1,900 MassChallenge alumni have raised more than $4 billion in funding, generated more than $2 billion in revenue, and created over 120,000 total jobs. Learn more about MassChallenge at masschallenge.org. 

Mission

MassChallenge strengthens the global innovation ecosystem by accelerating high-potential startups across all industries, from anywhere in the world.