PROVIDENCE — MassChallenge, a global network of zero-equity startup accelerators, today announced that applications for the 2020 Rhode Island program are now open. This year’s accelerator will support 30 of the world’s highest-growth startups through access to MassChallenge’s powerful network of support and resources. At the culmination of the four-month program, top startups will be awarded shares of more than $500K in cash prizes at the 2020 MassChallenge Awards.
Drawing on more than 10 years of insights, the MassChallenge accelerator is designed to drive startup outcomes throughout the early-stage lifecycle. To date, MassChallenge has accelerated more than 2,344 startups, which have collectively raised more than $5 billion in funding, generated more than $2.7 billion in revenue, and created more than 136,000 total jobs
“Innovation plays an integral role in strengthening ecosystems around the world,” said Hope Hopkins, Managing Director, MassChallenge Rhode Island. “With support from the diverse and engaged community in Rhode Island, our entrepreneurs can scale to address critical industry needs, stimulate commercial activity, fuel economic resiliency, and support job creation efforts throughout the state. We look forward to identifying our next cohort of value creators.”
While MassChallenge remains industry agnostic, the 2020 Rhode Island program will offer specialized resources to startups in the blue technology, insurance technology, and consumer packaged goods spaces, which they have identified as emerging areas of local and global innovation.
The BlueTech Track will run within the 2020 Rhode Island program and will support early-stage startups with a technical competency that can be applied to challenges like:
- Oceanography: Focus on sensors, sensing, modeling, big data, and data analytics
- Autonomy: Focus on platform autonomy/functionality and position, navigation, and timing (PNT) both above and below the surface
- Connectivity: Focus on connected devices and improving communication between devices above and below the surface
- Sustainability: Focus on power, renewables, costal resiliency, and aquaculture
Once admitted to the accelerator, MassChallenge, with input from our expert network of blue economy focused partners, will provide specialized content and connections to this subset of startups.
“Launching a program focused on blue tech makes perfect sense, says Hope Hopkins, Managing Director of MassChallenge Rhode Island. “In addition to bearing the moniker “The Ocean State” we have a robust regional ecosystem that includes major players in defense, oceanography, resiliency, material sciences and more. The ocean not only has the world’s attention at the moment but also that of the state’s Governor, Gina Raimondo evidenced by her proposed $10M bond for a smart bay. Our timing to bring early stage, high potential blue tech companies into the region could not be more perfect.”
Startups interested in applying to the 2020 MassChallenge Rhode Island accelerator can visit masschallenge.org/apply to get started on their application. The deadline to submit is February 26 (Early Bird) and March 9 (Final Deadline).
MassChallenge is a global network of zero-equity startup accelerators. Headquartered in the United States with locations in Boston, Israel, Mexico, Rhode Island, Switzerland, and Texas, MassChallenge is committed to strengthening the global innovation ecosystem by supporting high-potential startups across all industries, from anywhere in the world. To date, our 2,344 MassChallenge alumni have raised more than $5 billion in funding, generated more than $2.7 billion in revenue, and created more than 136,000 total jobs. Learn more about MassChallenge at masschallenge.org.
Top MassChallenge RI Partners
Amica Mutual Insurance, Delta Dental of Rhode Island, FM Global, Hasbro, IBM Alpha Zone, MITRE, Rhode Island Commerce Corporation.