We have had some top-notch startups from Mexico participate in the MassChallenge program in Boston and we know the vast potential that exists there, said MassChallenge Founder and CEO John Harthorne. MassChallenge recognizes the talent, innovation and creativity in Mexico and Latin America, which is ideal for a new accelerator program. We are excited to move forward with plans to establish a full program in the region.
The MassChallenge Mexico accelerator program would follow the MassChallenge model of high-quality support with no equity taken. The next stage will determine the exact location and format of the program. The choice of Mexico as the next intended location was inspired in part by the strong partnership with Reto Zapopan begun in 2012. Since 2014, eight Mexican startups have participated as finalists in MassChallenge Boston.
Annual MassChallenge accelerator programs in Boston and London support large cohorts of startups (128 in Boston, 90 in London) from anywhere in the world, in any industry. Entrepreneurs receive mentorship, office space, education, access to a vast network, and other resources during four months of acceleration. At the conclusion of the programs, MassChallenge awards over $2 million with no equity taken to the startups demonstrating the highest impact and highest potential.
Key sponsors funding the planning stages of MassChallenge Mexico include INADEM, Gentera, Aeromexico, Promotora Social, and the government of Mexico City.
The launch of MassChallenge Mexico is an opportunity to fuel enthusiasm for entrepreneurship. The no-equity model of MassChallenge allows entrepreneurs critical access to resources without having to give up ownership in the early stages of developing a business, said Harthorne.
Mexico was selected based on the strength and enthusiasm of the innovation ecosystem, its potential to further contribute to the existing global network of MassChallenge entrepreneurs, the sphere of influence and potential to support next stages of MassChallenge expansion. To receive updates about MassChallenges activities in Mexico, you can sign up for updates here
MassChallenge Mexico Partners:
"MassChallenge Mexico will have a dramatic impact on the Mexican startup ecosystem by injecting a global perspective and building international connections for our startups. We are proud to support MassChallenge, in partnership with the Mexico City government, as they launch their first Latin American hub in Mexico."
Enrique Jacob Rocha, President, Instituto Nacional del Emprendedor (INADEM), Mexican Federal Government
"Mexico City is poised to become the first and best global hub for entrepreneurship in Latin America. By partnering with MassChallenge, we are taking a huge step forward in this endeavor and creating tremendous opportunities for our entrepreneurs and our community."
Salom Chertorivski, Secretary of Economic Development, Mexico City Government
"Gentera has been dedicated to financial inclusion and financial innovation since its inception. We are proud to partner with MassChallenge in Mexico to expand financial inclusion, empower high-impact entrepreneurs in this space, and bring innovative solutions to the bottom of the pyramid."
Javier Fernandez Cueto, New Business and Innovation Executive Director, Gentera
"At Aeromexico,Mexicos global airline, we are excited to partner with innovators and entrepreneurs seeking to revolutionize industries and change the world. We are confident that MassChallenge, together with the recent start of operations of Aeromexico between Boston and Mexico City, will infuse the entrepreneurship community in Mexico and Latin America broadly with new energy and momentum." Andres Conesa, CEO, Aeromexico
"The potential for disruptive, innovative social entrepreneurs to advance social and economic development in Mexico is enormous. Together with MassChallenge, we are excited to provide these entrepreneurs with the resources they need to succeed improving the quality of life of the most vulnerable and underprivileged people.
Juan Carlos Domenzain, CEO, Promotora Social Mico
MassChallenge runs startup accelerators designed to catalyze a global renaissance by connecting high-impact startups with the resources they need to launch and succeed. Anyone can apply to MassChallenge, with any early-stage startup, in any industry, from anywhere in the world. MassChallenge does not take equity or place any restrictions on the startups it supports.
With programs in Boston, Israel and the UK, MassChallenge provides entrepreneurs with mentorship, office space, education, access to a vast network, and other resources during four months of acceleration. MassChallenge awards over $2 million in non-dilutive grants to the startups demonstrating the highest impact and highest potential. A nonprofit organization, MassChallenge is funded by corporate, public and foundation partners. To date, the 617 MassChallenge alumni have raised over $947 million in funding, generated $485 million in revenue and created 5,105 jobs. For more information, visit www.masschallenge.org
Top MassChallenge Boston partners include: Fidelity Investments, Verizon, Microsoft, Bose, IBM, the Richard and Susan Smith Family Foundation, CASIS, the Commonwealth of Massachusetts, The Deshpande Foundation, Jamestown, The Boston Foundation, Combined Jewish Philanthropies of Greater Boston, Bler, American Airlines, Boehringer Ingelheim, EMC, Henkel, iNNpulsa Colombia, Zapopan, Pfizer, Smith & Nephew, Turnstone, WGBH Boston, John Hancock, and Honda.
MADE@ MassChallenge Sponsors include: Jabil, Lightspeed MFG, MassDevelopment, Analog Devices, Arrow, and Autodesk.
MassChallenge UK partners include: NatWest, Unilever, Visa Europe Collab, Satellite Application Catapult, Digital Catapult, Hult International Business School, Tech City UK, EMC, The Manchester Growth Company, GCHQ, ViiV, UK Business Angels Association, IBM, Mailjet, Angels Den, Media City UK, The Landing, Fried Frank Technology, Taylor Wessing, The BIG Partnership, Red Lorry Yellow Lorry, The Collective, Crowdcube and Tobacco Dock.
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