Global Accelerator, MassChallenge, Launching Second U.S. Program In Texas
MassChallenge, one of the longest running, most successful and largest accelerator programs in the world, has announced that they are expanding their U.S. presence to include a new location in Austin Texas. MassChallenge gets it’s name from it’s flagship location in Boston Massachusetts, but since launching in 2009 (first session was in 2010).
In 2009 Akhil Nigam and John Harthorne quit their jobs at Bain Capital in 2009 to launch MassChallenge which is part accelerator and part startup challenge. After launching their first group of startups in Boston in 2010 they haven’t opened another program in the U.S. They have international programs in London, Israel, Switzerland and Mexico.
MassChallenge offers high level mentorship and other benefits of a typical cohort based startup accelerator but also facilitates a competition for up to $500,000 in equity free cash awards. Naturally startups respond very well to the prospect of working hard, and getting some much needed cash without having to give up part of their company. The new location, targeting Austin, San Antonio and surrounding areas, hopes to see as many as 100 startups participate.
Austin based entrepreneur, founder of Pitch-A-Kid, and highly regarded Capital Factory mentor Mike Millard has been tapped to lead the MassChallenge Texas program under the leadership of Scott Baily the MassChallenge’s Executive Director of North America.
The program is being underwritten by Texas giants USAA, Southwest as well as Upstream a technology company that measures fresh bodies of water from space by pairing satellite images with machine learning, reports the San Antonio Business Journal.
As usual, Austin based Capital Factory is embracing MassChallenge’s expansion into the great state of Texas.
“I want to be the first to welcome MassChallenge to Texas and look forward to working with them to support Texas entrepreneurs,” Capital Factory Founder Joshua Baer told AustinInno. “One of the things Texas needs most is connections to capital and corporations in other geographies.”
MassChallenge will formally kick off with a launch event October 16th at Bullock Texas State History Museum. You can register for that event here and find our more information about MassChallenge here.