Accelerators MassChallenge Startups

MassChallenge Texas Welcomes Inaugural Cohort

masschallenge-texas-top MassChallenge Texas Welcomes Inaugural CohortMassChallenge’s first Texas-based community-driven startup accelerator and WeWork Texas welcome 84 startups from around the globe to Austin

MassChallenge™, a global network of zero-equity startup accelerators, welcomes 84 of the world’s highest impact, highest potential early-stage startups to Austin, Texas as the not-for-profit’s first ever Texas-based accelerator officially begins. Companies are coming to Austin for the next four months from as far away as Greece and Zimbabwe and from all corners of the Lone Star State. The accelerator will culminate on Aug. 15, 2018 at the MassChallenge Texas Awards Ceremony,where the top startups from the accelerator’s inaugural cohort will pitch for the opportunity to win a portion of up to $500,000 in equity-free grants.

Startups that participate in the accelerator will receive a custom curriculum designed to meet them where they are in their entrepreneurial journey, from market research to launching pilot programs, intellectual property and licensing, to fundraising and investor relations, sales and marketing strategy, to working with corporate partners and more.

“We’re incredibly excited about the curriculum and experience we have designed for the startups,” said Mike Millard, Managing Director of MassChallenge Texas. “Not only are we offering curriculum based on MassChallenge’s extensive experience, we are listening to what the startups ask for to make the experience as relevant and useful as possible. Over the course of the accelerator we will connect our startups to the Texas community by creating opportunities for shared experiences through education, events and networking.”

The 84 companies will call the new WeWork West 6th space home for the accelerator and have access to a complimentary, Texas-wide WeWork community membership for six months; that includes the four months of the accelerator and two months after. MassChallenge Texas and WeWork will host a series of events in the West 6th space to connect both communities to the broader Texas startup ecosystem. Please check MassChallenge Texas’ Facebook events calendar to learn more.

“WeWork is the platform for creators of all kinds,” said Nathan Lenahan, WeWork General Manager, Texas. “We are incredibly excited to kickoff this partnership with MassChallenge to bring their expertise and experience to growing companies in Texas. This is a great partnership for our community, and for Texas. We are committed to Texas, and we are just getting started.”

The custom curriculum and WeWork partnership are two pieces of the total offer for the participating startups. MassChallenge Texas has established a mentor network of over 300 experts from all corners of Texas. The startups will connect with these experts and build dedicated mentor teams over the course of the accelerator. They will also take advantage of more than 50 deals and discounts that represent free hosting services, shipping and digital marketing platforms which have been specifically curated for the cohort.
About the Cohort:
 
The 84 startups represent a range of industries from agriculture to gaming, and consumer to medical devices. The 2018 cohort was selected from more than 520 applicants, of which more than 280 were invited to pitch MassChallenge Texas’ expert community at Strasburger & Price, LLP in downtown Austin. The 84 startups represent:
  • Five continents
  • 11 countries
  • 12 states
  • Five major Texas cities/regions
    • Austin, Dallas/Fort Worth, El Paso, Houston, and San Antonio
  • 32 percent female founders
  • Five major industries
    • High tech (33 startups, 39.3 percent)
    • Healthcare and Life Sciences (24 startups, 28.6 percent)
    • General Consumer (12 startups, 14.3 percent)
    • Social Impact (nine startups, 10.7 percent)
    • Energy and Clean Tech (six startups, 7.1 percent)

MassChallenge Texas’ success in sourcing its 2018 cohort is due in large part to the support it received from the Texas startup community. After the program’s launch in October 2017, the MassChallenge Texas team embarked on a seven-week roadshow and hosted 37 events across the state including in Arlington, Austin, Dallas, El Paso, Fort Worth, Houston, San Antonio and San Marcos.

These 84 startups join MassChallenge’s established international community of 1,495 alumni. The complete list of 2018 startups can be found here.