Leading global accelerator surpasses 1,000 startup milestone
BOSTON, JAN 18, 2017 – MassChallenge, the most startup-friendly accelerator on the planet, today released its 2016 Impact Report, which details the organizations growth over the past year. In 2016, MassChallenge passed a significant milestone of accelerating more than 1,000 startups 1,211 in total. Additionally, since 2010, MassChallenge alumni have raised over $1.8 billion in funding, generated over $700 million in revenue, and created 60,000 direct and indirect jobs.
This report caps a successful 2016 for MassChallenge globally, said John Harthorne, Founder and CEO of MassChallenge. With startup accelerators and significant ecosystem building programs on five continents, MassChallenge is helping entrepreneurs around the world solve our biggest challenges.
As part of its industry-leading support of entrepreneurs, MassChallenge achieved the following results:
- Introduced new accelerators in Israel, Switzerland, and Mexico, and saw continued growth from the UK and Boston accelerators:
- MassChallenge Israel received 520 applications from 35 countries and accelerated 48 startups. In November 2016, MassChallenge Israel awarded 1 million NIS in non-equity cash prizes to 10 startups.
- MassChallenge Mexico received 449 applications and accelerated 29 startups 47% of which were founded by women. In December 2016, MassChallenge Mexico awarded $100,000 in non-equity cash prizes to 5 startups.
- MassChallenge Switzerland received 450 applications and accelerated 70 startups, who raised 13 million CHF during the four-month acceleration period. In November 2016, MassChallenge Switzerland awarded 400,000 CHF in non-dilutive grants to six startups.
- MassChallenge UK received more than 1,300 applications from 76 countries and accelerated 100 diverse startups. MassChallenge UK will award 125,000 in non-equity cash prizes in January 2017. In addition to its robust acceleration program, MassChallenge UK launched the East London Business Booster, with the JP Morgan Chase Foundation, which is currently supporting over 60 early-stage small businesses.
- MassChallenge Boston received more than 1,700 applications and accelerated 128 startups. In November 2016, MassChallenge Boston awarded $1.5 billion in non-equity cash prizes to 16 startups. MassChallenge Boston also launched two new initiatives with the support of its generous partners: PULSE@MassChallenge brings a startup-friendly approach to accelerating digital health innovations, while the Newton Innovation Center offers a community-driven collaborative workspace to catalyze a global startup renaissance, starting on a local scale.
- Released The State of Startup/Corporate Collaboration 2016, a first-of-its-kind study on the relationship between startups and corporates. The study which was co-researched by software and consulting firm Imaginatik found that corporates and startups are working together in fundamentally new ways.
- In 2016, MassChallenge expanded Bridge to MassChallenge, which strengthens innovation ecosystems and drives the creation of high quality jobs by supporting entrepreneurs and connecting them to our global network. MassChallenge ran an international startup competition and bootcamp in Australia and completed significant ecosystem building projects in Colombia, Spain, and France.
MassChallenge is the most startup-friendly accelerator on the planet. No equity and not-for-profit, we are obsessed with helping entrepreneurs across any industry. We also reward the highest-impact startups through a competition to win a portion of several million dollars in equity-free cash awards. Through our global network of accelerators in Boston, the UK, Israel, Switzerland, and Mexico, and unrivaled access to our corporate partners, we can have a massive impact – driving growth and creating value the world over. To date, 1,211 MassChallenge alumni have raised over $1.8 billion in funding, generated over $700 million in revenue, and created over 60,000 direct and indirect jobs. For more information, please visit masschallenge.org.
Microsoft, Fidelity, Verizon, Bler, BCG The Boston Consulting, Proctor & Gamble, Liberty Mutual, John Hancock, CASIS, Jamestown, Kauffman Foundation, The Boston Foundation, Deshpande Foundation, SENA, OCP Entrepreneurship Network, Biscay Government, Gentera, PTC, Givaudan, Swiss Re, Nestl Inartis Foundation, Swiss Economic Forum, EMC2, INADEM, J.P. Morgan Chase, Jerusalem Development Authority, Commonwealth of Massachusetts, and IBM.
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