Boston
09 August 2018

What Does It Mean to Partner with MassChallenge Boston?

Written by Jake Molina 

 

As a non-profit, MassChallenge accelerates startups across industries with one simple mission: to help entrepreneurs win. 

We do this by providing startups, whose potential for impact ranges from societal issues to industry enhancement, with the resources they need to steer their companies in the direction of success – all at zero cost and for zero equity. 

One key pillar of support can be found in our corporate partners

By working closely with top corporates from Pepsi to Microsoft, entrepreneurs can refine their value proposition, explore co-development opportunities, gain expert feedback, and even consider potential acquisitions. But the value isn’t exclusive to startups. In addition to the satisfaction that comes with supporting innovation, corporates can drive real value from these engagements. 

In this article, we’ll discuss the vast reasons for corporates to team up with MassChallenge and the benefits they will receive in exchange. 

Knowledge Is Power

Corporates that partner with MassChallenge have the ultimate experience directly working with the world’s very best startups. Not only does this offer mentorship opportunities within the incubator space, but partners also get immediate access to the latest innovations. 

With MassChallenge acting as a vetting system, partners can focus on the startups that peak their interest and are developing solutions to their own unique challenges. In addition, this early-stage engagement also enables partners to discover the latest technologies within a particular industry, strengthen their offerings, and ultimately learn from scrappy entrepreneurs. 

Opportunity to Partner with Startups 

86% of the startups that MassChallenge supports go on to continue their ventures after our accelerator program ends. This is largely because MassChallenge uses proven criteria to select the most-promising startups for our cohorts each year. 

The ventures most likely to succeed are persistent, address a need within the market, have products and services that are in high-demand, are in tune with and ahead of their competitors, and grow when given the resources to expand. 

At MassChallenge, we are proud of that 86% because research shows that most startups fail within the first couple of years. Our commitment to building stronger, impact-driven startups doesn’t just make our startups happy – it makes those who partner with MassChallenge stronger. With this, partners can connect with more developed companies and ensure engagements are built to last. 

 

“MassChallenge has amazing reach into the global innovation ecosystem and with their focus on community and healthcare we felt like they would be a great partner for us as we strive to meet our ultimate goals to be the #1 Health and Well Being Food company.” – Josh Anthony, Vice President of Global Research and Regulatory Affairs at Campbell Soup Company

 

So, What Does It Mean to Partner With a Startup Accelerator?

It depends who you ask because engagements can vary from co-developments to advisory roles and even investment opportunities. Partners have the opportunity to connect with hundreds of startups in spaces they might not have considered otherwise. 

This is helpful for two reasons: 

  • First, it enables corporates to diversify their existing offerings. As any financial advisor would suggest, when it comes to buying and selling stocks within an investment portfolio, risk is diversifiable in an unsystematic market. The same can be said with corporate offerings. Engaging with startups across industries can uncover new market or customer acquisition opportunities. 
  • The second reason is discovery. In fact, 60% of corporates want to work with early-stage startups, according to our recent report. All organizations face challenges – both internal and external – and startups are working on new solutions every day. By partnering with MassChallenge, corporates can identify startups that could help drive revenue and those that could improve staff productivity, marketing analytics, and more. 

If you’re not sure where to start, that’s okay. The MassChallenge team is here to facilitate interactions and support outcomes! 

Reputation as a Game Changer

Corporates have historically been considered clunky, slow moving, and out of touch. To curb this, they’ve begun working with startups across stages of growth in fundamentally new ways. By engaging with agile startups, corporates can not only adopt their behaviors, but also cement their reputation as a fresh, forward-thinking organization. 

The MassChallenge Network

Lastly, every partner gains access to MassChallenge’s vast network. We’re talking: every startup (alumni and current cohort), every partner, and every expert throughout our innovation community.  

MassChallenge has the scale, scope, and track record to help partners reach a global market. With locations in Boston, Israel, Mexico, Switzerland, Texas, Rhode Island, and the UK, MassChallenge will grant all partners access to startups across the globe. 

If becoming a world leader in innovation is a priority, MassChallenge’s network opens up the necessary resources to reach a global market.

Interested in getting involved? Contact partnerships@masschallenge.org to learn more. 

 

Mission

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