IMPACT REPORT 2016
CONTENTS LET TER FROM THE CEO
2016 ACCELER ATOR HIGHLIGHTS
STARTUP/CORPOR ATE COLL ABOR ATION
DELIVERING PARTNER VALUE
GLOBAL ECOSYSTEM BUILDING: BRIDGE TO MASSCHALLENGE
THANK YOU TO SUPPORTERS
LETTER FROM THE CEO
JOHN HARTHORNE 3
Dear MassChallenge Community, We have come a long way since 2010 when we ran our first accelerator
In Boston, home to our original accelerator and our headquarters, we
in Boston. At that time our vision was just a dream — to change the
also launched two new programs — PULSE@MassChallenge for digital
world through entrepreneurship without taking anything from startups.
health and the Newton Innovation Center — and we have innovative
For the past seven years, we have been turning this into reality.
plans for increasing our impact within Massachusetts and the United States. With our new COO, Siobhan Dullea, on board, we are also
This year, MassChallenge™ passed a milestone of accelerating over
shoring up our global operations so we will be poised for exponential
1,000 startups — 1,211 in total. Our alums have raised over $1.8 billion in
growth in the years to come.
funding, generated over $700 million in revenue, and created 60,000 direct and indirect jobs. From addressing major healthcare challenges,
Thank you for joining us on this journey so far and for helping us to turn
to redefining the sharing economy and producing products that make
this dream into a reality.
our planet and lives better, our startups are solving, disrupting, and creating change worldwide. While accelerating over 1,200 startups is an impressive accomplishment,
I can assure you that this is only the beginning. We launched three new accelerators this year — in Israel, Mexico, and Switzerland — and we are committed to running 12 locations annually by 2020, including at least one on each populated continent. In addition to launching three startup accelerators this year, we also grew our UK program and ran a
national competition in Australia through our Bridge to MassChallenge program, and completed significant ecosystem building projects in Colombia, Spain, and France. We have additional plans for Bridge to MassChallenge programs and competitions around the world in 2017.
"MassChallenge has given us a way to express ourselves and to support new ideas and young people in a way that is tremendously powerful."
This was a year of record-breaking numbers at MassChallenge. We received more (and higher quality) applications than ever before for all programs; we have more expert judges and mentors than ever; and we hosted double the number of events from last year. But one number stands out about the rest: 1,211 alumni. Thatâ€™s the
â€” Robert DeLeo, Massachusetts House Speaker
number of high impact startups that MassChallenge has supported since it was founded in 2010.
$2M+ in equity-free
AWARDS AND RECOGNITION
cash awards to our top startups globally.
#1 seed investor in the world for female-founded startups
Top 5 accelerator in the US
Gold accelerator in the US
Less than $600 spent per job created.
According to an MIT study, MassChallenge startups are 2.5X more likely than non-MassChallenge startups to hire at least 15 employees and 3X more likely to raise $500,000 in funding.* *MIT dissertation research by Daniel Fehder, under the supervision of MIT Professors Fiona Murray and Scott Stern.
APPLICATIONS FROM 81 COUNTRIES
1,670 OFFICE HOURS
1,211 RAISED OVER
IN OUTSIDE FUNDING
ALUMNI HAVE: GENERATED OVER
IN REVENUE 8
WHERE ARE THEY NOW With 1,211 alumni, there are so many success stories. We've selected a few to help demonstrate the impact our startups are having globally.
MOM INCUBATORS: CO-FOUNDER JAMES ROBERTS
GRIT: CO-FOUNDER TISH SCOLNIK
GINKGO BIOWORKS: CO-FOUNDER JASON KELLY
ESTRENÓN: FOUNDER JOSÉ LUIS REYES
Ginkgo Bioworks (Formally Primus)
Global Research Innovation and Technology
Boston 2010 Finalist
Boston 2012 Diamond Winner
Designing custom microbes for clients across multiple markets
Designed the Leveraged Freedom Chair, an
to produce chemicals, ingredients, and industrial enzymes.
all terrain wheelchair that allows people of all abilities to move beyond the pavement.
WHERE ARE THEY NOW? • Raised $154M in funding.
WHERE ARE THEY NOW?
• Completed construction of Bioworks2, Ginkgo's second generation automated organism engineering foundry. • Signed a deal for 700 million base pairs of
• Created the Freedom Chair, the mountain bike of wheelchairs. • Secured a contract with the U.S. Department
designed DNA — the largest such agreement ever
of Veterans Affairs to provide the Freedom
made — with Twist Bioscience and Gen9.
Chair directly to wounded veterans.
• Partnered with Amyris and Genomatica to build a new ecosystem for industrial biotechnology and with Cargill and Archer Daniels Midland to develop fermentation-based products. • Notable investors include Viking Global Investors, Y Combinator
• Expanded the product line to include a second model and a range of accessories. • Won Fast Company’s 2012 Innovation by Design Award.
Continuity Fund, Senator Investment Group, Cascade Investment, Baille, Gifford, and Allen & Company LLC.
Boston 2015 Diamond Winner (from Mexico)
UK 2015 Diamond Winner
Disrupting poverty’s cycle of low self-esteem and exclusion
Increasing access to quality healthcare for infants
by pioneering the reused clothing movement in Latin America
through a cleverly designed inflatable baby incubator.
through a replicable model for buying and selling WHERE ARE THEY NOW?
• Raised £630K in seed funding from notable investors Holly Branson and two MassChallenge Board
WHERE ARE THEY NOW? • Selected by President Obama’s Young Leaders of the Americas Initiative as a Professional Fellow and won first
members: Lord Rumi Verjee and Josh Boger. • Identified initial clinical testing sites with globally recognized organizations.
place — $7,500 in prize money.
• Partnered with Morgan Innovation and Technology,
• Grew from 10 to 26 stores and from
a UK-based medical device developer
36 to 95 full-time employees. • Grew from serving 156,000 to 550,000 families per year.
“Boston has a very unique and very mature innovative ecosystem. Meeting with VCs, clinicians as well as corporates brings us closer to bringing value and also closing our next round of funding.”
FEATURED STARTUP: JOULEZ (2016 GOLD WINNER)
— Alex Schuller, Adhesys Medical 2016 Diamond Winner
Joulez fuses arts and crafts with electronics to create fun and educational gadgets that inspire girls to get excited about STEM. During the 2016 MassChallenge Boston accelerator, the Joulez team: •
Raised $60,000 in non-dilutive funding to drive the next phase of product development.
Found two core team members, a COO, and a director of engineering during the program.
Significant engagement with mentors empowered Joulez to quickly validate their go-to-market strategy.
Introductions through the MassChallenge Startup Showcase led to retail testing with Microsoft in their Prudential store. Launched ‘Girl Inventors Day at MassChallenge’, an oversubscribed session that inspired girls to learn about technology and pitch their ideas.
Received significant media exposure during the MassChallenge program, including appearances on Channel 7 Urban Update and FOX25 News Boston.
FEATURED MENTOR: DONNA BREZINSKI, CEO LITTLE SPARROWS TECHNOLOGIES
FEATURED EVENT: MASSCHALLENGE BOSTON AWARDS 2016
The seventh annual MassChallenge Boston Awards A 2013 MassChallenge Boston alumna, Donna has
brought together more than 1,500 leaders and
given back to the MassChallenge community by
supporters from the Boston entrepreneurial community
becoming one of the most active and respected
to celebrate the MassChallenge entrepreneurs at
healthcare mentors in Boston. She served as an
the Boston Convention and Exhibition Center. The
industry champion, contributing to MassChallenge
night also featured a showcase of the 128 startups,
Boston's curriculum and workshop design,
on-stage pitches from the top 26 companies, and
especially on regulatory practices. She held
keynotes from Massachusetts Governor Charlie Baker
weekly office hours with healthcare entrepreneurs
and Chobani Founder and CEO Hamdi Ulukaya.
and consistently goes above and beyond to
The #MCAwards16 hashtag started trending as the
support MassChallenge startups. Thanks, Donna!
#1 topic on Twitter at 8:47am that day and lasted
well into the night â€” demonstrating the enthusiasm of the entire Boston startup community.
event attendees in 2016
in equity-free awards
“MassChallenge has been our MBA. We have gained invaluable insight into how to build our company, from identifying our market to crafting our pitch to developing our product. We've developed our strategic plan, hired a team of pros in Israel and are on our way to launch. Our experience at MassChallenge has given us the tools to realize our dream...” — Naomi Grossman, Co-Founder/CEO LifeJourney Books
FEATURED STARTUP: EYECONTROL (2016 GOLD WINNER) EyeControl aims to improve the quality of life for locked-in ALS patients through a simple eyeglass frame with a connected infrared camera. EyeControl’s goal is to help anyone communicate anytime and anywhere. During the 2016 accelerator program, the team: •
Won the 125,000 NIS Gold Award at the MassChallenge Israel Awards.
Created six jobs this year — four R&D jobs and another two G&A jobs.
Won third place (out of 2,500 companies) and $100,000 in The Venture.
Started a pilot program in a leading hospital in Israel.
Raised first round of funding with private angels and the Israeli Chief Scientist Office.
FEATURED MENTOR: YEHUDA ZICHERMAN D. SC .
FEATURED EVENT: STARTUP SHOWCASE We had one of the biggest Startup Showcases (or
Dr. Zicherman is an an expert in developing medical
“Shukcase”, a Jerusalem market-style theme) in Israel
technologies and the CEO of ADM Advanced Dialysis
at the Tel Aviv Stock Exchange, showcasing more
Methods Ltd. During the program, Yehuda mentored
than 40 MassChallenge Israel companies with over
three companies and supported them with product
500 guests from the Israel innovation ecosystem.
development, regulation, and market penetration. All companies indicated how valuable his vast experience was, for instance, Yehuda Elram, Co-Founder of
EggXYt said, "Yehuda was very valuable to me and to EggXYt, bringing years of experience in the world of medical device development and IP protection and
countries represented in application pool
strategy. Furthermore, Yehuda's pleasant attitude and availability made me feel very comfortable to seek his valuable advice. We are grateful to
have Yehuda as our mentor." Thanks Yehuda!
₪1 Million 16
in equity-free awards
“Mexico's Women in MassChallenge program was a great forum to meet, listen, and learn from businesswomen and entrepreneurs, how to tackle the challenges, [we] as women face, and more importantly how working together is key to empower us and the generations to come.”
FEATURED STARTUP: GUS (2016 MEXICO DIAMOND WINNER)
— Karla Puga, Founder Mi Club de Cuentos
Customer service is the core of many industries, yet customer experience is lacking; excessive wait times and archaic contact methods give an opportunity for better service. With that in mind, GusTech develops artificial intelligence based on natural language processing for Spanish speaking countries. GusTech automates customer service and sales to save you money and save your consumers time all while letting them contact via their favorite channels. •
Closed two deals for implementation with major companies in Mexico.
Selected as CNN Expansión's Most Innovative Company in the Start Up Category (Premios Bit Expansión).
Secured $750K of funding for R&D with another round of $750K expected to close soon. Grown to a team of over 30 collaborators.
FEATURED MENTOR: MARY CL AIRE WHITAKER
FEATURED EVENT: WOMEN IN MASSCHALLENGE MEXICO
Mary Claire Whitaker has been an exceptional
In 2016, Mexico brought together female entrepreneurs
mentor, specializing in market consulting and
to provide help and support for key issues affecting
business development. She mentored two
them. We held a breakfast event featuring high-level
MassChallenge Mexico startups, Briq and Mi Club
speakers, including special guests VerĂłnica Zavala,
de Cuentos, providing an hour for each on a weekly
IDB Representative in Mexico, and Irma Wilde, Director
basis and hosted a workshop on sales metrics.
of Strategic and Business Development at SIEMENS.
Mary Claire has also engaged by coming to different events and recommending MassChallenge
to every startup she knows! Thanks Mary! "MassChallenge Mexico was a great opportunity for
me to be able to exchange experience, perspective and expertise with a community of startups
in Mexico. Not only did I learn a lot from the companies, but I also made some new friends." â€” Mary Claire Whitaker Lead Consultant, VEDP Global Network Partner for Mexico
in equity-free awards
"The theory of relativity states that time travels slower for a fast moving object than for a stationary one. While we have travelled through the last month without even realising it, we have achieved a lot thanks to the program. I‘d like to thank the MassChallenge Switzerland team for our superlative experience.” — Roy Chikballapur, CEO machIQ
FEATURED STARTUP: SWISSDECODE (2016 GOLD WINNER)
SwissDeCode empowers supply chain inspectors to take point-of-need decisions about food safety and compliance with an on-site DNAFoil test that protects profitability and brand. During the 2016 MassChallenge Switzerland accelerator, the SwissDeCode team: •
Created six jobs.
Had the opportunity to add new joint development programs with two of the MassChallenge Switzerland partners.
Won the 2016 Swiss Food Research Council competition. SwissDeCode
Selected as a finalist in the 2016 Hello Tomorrow Challenge
will be conducting research with the Swiss Food Research Council in 2017. sponsored by Carrefour.
FEATURED MENTOR: OSWALDO DA COSTA E SILVA
FEATURED EVENT: EXIT ACCELER ATOR ROUND TABLE
Oswaldo da Costa e Silva, Principal at InnoCres
As part of the Deep Dive series, one discussion
Consultancy, first interacted with his mentee Share a
revolved around exit strategy with experts from
Dream during the Round 2 Judging of MassChallenge
the Exit Accelerator. This highly interactive session
Switzerland. After they had been selected as finalists,
Oswaldo contacted them through the MassChallenge
Time, costs, and risks involved in the exit process.
directory, as he felt he could support the startup. An
The emotional impact of an exit for entrepreneurs.
initial Skype session was set up, followed by sessions
Lessons learned, what could have been done differently, and the surprises.
every week on Wednesday at 10am, throughout the entire summer, no exceptions. Oswaldo helped the Share A Dream team with business strategy in a
Negotiation experience, working with advisors, and dealing with the stakeholders.
corporate realm, taught them how to scale up and
The entrepreneurs gave real-life examples from
make sales, ultimately designing offers leading to five
personal experiences and included information
new clients. Oswaldo made incredible introductions,
relevant for the Swiss and international markets. Even
remaining proactive throughout the program and
if many startups don't have an exit strategy in mind,
demonstrating MassChallenge’s values, even from
it's important to have this plan as early as possible
afar. Going forward, Oswaldo has been elected
and to think about the potential pitfalls.
a non-executive director of Share a Dream LLC. Incredible dedication. Thanks Oswaldo!
($12.6 million USD) funding was raised during the 4-month acceleration period
400,000 CHF 20
in equity-free awards
“MassChallenge provided us with an unparalleled opportunity to develop our skills and grow our business. The mentorship, the networking, and the overall exposure that we received, thanks to being part of the accelerator, have been extremely valuable to us.”
FEATURED STARTUP: ENTOCYCLE (2016 UK FINALIST AND 'TOP 20' TEAM)
— Irina Albita, Co-Founder Big Couch
Entocycle has been working on producing a sustainable and ethical insect-based alternative to fish and soya meal. This 'clean-tech' system has the secondary benefit of recycling food waste from landfills by simply copying nature. During the 2016 programme, the team has: •
Had technical support provided by their mentor, Simon Baker at IBM.
Grown from two to five staff members.
Won the 2016 Global Innovation Forum Startup Stage.
Partnered with MassChallenge partner Bühler, exploring a manufacturing partnership and a route to market to convert wasted food into feeding protein.
Secured £20,000 in research funding from Tesco under their sustainability wing.
FEATURED MENTOR: SUKI FULLER
FEATURED EVENT: MINUTE TO PITCH IT, SPONSORED BY BCG
Suki is the epitome of a MassChallenge
A fun and fast-paced pitch competition, where 50 of
mentor — selfless, dedicated, and wants
MassChallenge’s UK finalists had only one minute to pitch
the best for all MassChallenge startups. We
their startup idea to a cheering crowd of hundreds of
asked her to be a mentor with Bridge to
innovation enthusiasts and community members in the UK
MassChallenge Australia, and Suki took several
startup ecosystem. Below is a top level summary
of her mentees to the finals of the national
of the event:
competition and helped them shape and refine
50 startups pitched.
their planning and pitches. She puts her best
341 attendees from across the UK startup ecosystem.
foot forward every day and has given her
Alumni Glisser's technology was used for voting, which was a hit on the night.
whole heart to the program. Thank you Suki! •
Or Klier, Associate Director at BCG, opened the event.
The winner: Clover Lewis Swimwear, which makes swimwear for women who have had breast cancer.
countries represented in application pool
in equity-free awards
INITIATIVES In early 2016, MassChallenge partnered with the Massachusetts Competitive Partnership (MACP), the Massachusetts e-Health Institute (MeHI), the City of Boston, the Commonwealth of Massachusetts, Suffolk University, and Samuels & Associates to launch PULSE@ MassChallenge, with a goal of providing promising startups with the strategic relationships, resources, mentorship, and community access needed to create an impact in digital health — all for zero equity. •
Opened in June 2016.
8,000 square foot lab in Fenway, a growing innovation center in Boston near the Longwood Medical and Academic area.
26 partners including institutions, corporations, and individuals.
40 challenges to startups.
Over 1,500 attendees at events.
434 applications from digital healthcare startups from around the world.
$250,000 in equity-free grants will be awarded to the top digital healthcare startups.
“Thank you to MassChallege, the City of Newton, and the CIC for this opportunity. The NIC is a great community-based resources and a model that can be followed in other communities to encourage and support local entrepreneurs.” — Debbie Kenny MeetCaregivers, 2015 Boston Finalist Launched in 2016, the Newton Innovation Center is
EAST LONDON BUSINESS BOOSTER SUPPORTED BY J.P. MORGAN, WITH MASSCHALLENGE
a joint collaboration between MassChallenge, the Cambridge Innovation Center (CIC), and the City of Newton Massachusetts. The NIC is a startup-friendly collaborative workspace that supports entrepreneurs of all types and ages, enabling them to deliver local and global impact. The space supports and is free of
The East London Business Booster provides
charge for all MassChallenge finalists and alumni, as
enhanced access and support to businesses
well as existing CIC members.
from the East London community, where both MassChallenge UK and J.P. Morgan have offices.
Participants also received free office space with
85 residents using the NIC for meetings,
MassChallenge UK for three months.
co-working, and events. •
5 large community program events.
Supported 66 businesses in 2016 and early 2017.
50 companies (startups or small businesses) in
Provided over 5,000 hours of mentorship,
total utilizing the NIC from MassChallenge and CIC.
workshops, and events with industry experts.
“The idea that we can create an innovation economy in different parts of the world is taking off.”
“Through this new programme, we hope to empower a new set of entrepreneurs across East London and help their small businesses thrive.”
— Setti Warren Newton Mayor
— Hang Ho Head of Philanthropy for Europe, Middle-East and Africa at J.P. Morgan
MassChallenge has been catalyzing relationships between startups and corporates since its founding in 2009. This year, MassChallenge and innovation software and consulting firm Imaginatik jointly researched and released The State of Startup/ Corporate Collaboration 2016*, a first-of-its-kind study, to understand what was happening on a broader industry level. This research showed that corporates and startups are working together in
Among other insights, the study uncovered five key learnings:
fundamentally new ways.
1. EARLIER STAGE
2. COLL ABOR ATION IS “MISSION CRITICAL”
3. MODELS STILL IN THEIR INFANCY
4. “STR ATEGIC FIT” IS PAR AMOUNT
5 . NO LONGER “ US” VS . “THEM ”
At an overwhelming 82%,
For most of the
The study showed that 44%
corporations now view
of corporate respondents
are becoming longer-term and
with startups at earlier
interactions with startups
current attempts to work
more nuanced, with acquisitions
stages, with 67% of
cited strategic fit as the most
as at least “somewhat
with startups are more
important factor in success
and investments lower on
important ”, and a
often than not underfunded,
or failure of a given startup
the priority list and a striking
saying that they prefer
significant 23% indicated
and scattershot – such
relationship. A slightly higher
majority of startups, 99%,
working with startups
that these interactions
that 25% of corporations
expressing at least some desire
at earlier stages.
proportion of startups,
were “mission critical.”
responded that they did not
65%, saw corporations as
to work with corporates.
know how much is spent
potential strategic partners.
on innovation per year. *For a complete copy of the report, please visit more.masschallenge.org/report1.
PARTNER VALUE Startup/Corporate Collaboration in action
AUTODESK AND LUMII
IBM AND VERSATILE NATURES
MASSCHALLENGE BOSTON 2015 FINALIST
MASSCHALLENGE ISR AEL 2016 WINNER
“Our relationship with MassChallenge sponsor Autodesk has been
“Versatile Natures makes construction sites
absolutely wonderful. Given our mission at Lumii — delivering deeply
smarter with a multi-sensor IoT, plug-and-play
engaging 3D experiences to the world of printed media and advertising
hook that transforms any crane to a smart
— we quickly recognized the value of engaging with Autodesk upon
crane. We have worked with IBM throughout
entering MassChallenge as a finalist in 2015. During the program,
the program and...been invited to pitch for
Rick Rundell from Autodesk was a fantastic MassChallenge mentor
a spot on the IBM AlphaZone program.
and helped us develop key insights about trends in 3D content that helped us shape our business.
"I am sure the connection via MassChallenge and the fact they knew what we were doing helped.
“Over the past year our relationship with Autodesk has continued to
Having access to partners helped us a lot in
grow and develop in some wonderful ways. We're looking forward
getting things done and better defined.”
to our continued collaboration with Autodesk, and we're thankful to MassChallenge for making it possible!” — Tom Baran, Co-Founder/CEO of Lumii Gold Winner MassChallenge Boston 2015
— Meriav Oren, Co-Founder of Versatile Natures Gold Winner MassChallenge Israel 2016
DELIVERING PARTNER VALUE (CONTINUED)
“Startup/corporate relationship is starting much earlier than it had previously, entrepreneurs are finding that they can uncover much more strategic value.” — Mike LaRhette MassChallenge President
BÜHLER AND MACHIQ
VIIV DEMO DAY
“As one of our MassChallenge Switzerland mentors, we
ViiV Healthcare a joint collaboration between
In October, in collaboration with
had Bruno Mendler who is the Chief Strategy Officer
GlaxoSmithKline (GSK) and Pfizer, is a global
MassChallenge Mexico Partner
at Bühler. When we discussed our product roadmap,
specialist HIV company dedicated to delivering
Gentera, 90 entrepreneurs attended
he advised us to be razor sharp with our valuation
advances in treatment and care for people living
the MassChallenge Fintech Week.
proposition and connected us straight away to the
with HIV. ViiV met startup finalist Relationship
This was an event to empower
team at Bühler who are responsible for services.
2.0 at a private demo day featuring eleven
and inspire fintech entrepreneurs
MASSCHALLENGE SWITZERLAND 2016 FINALIST
MASSCHALLENGE UK AND BOSTON
MassChallenge UK 2016 healthcare-focused startups.
with 21 international and national
At the time, we intended to adopt a marketplace
Its app, CoupleWise, uses 30 years of couples
speakers delivering keynotes and
business model and we presented this to them. I believe
research, bringing new levels of affordability,
panel discussions. This provided
that their feedback was critical for us at that
privacy, and personalization to couple enrichment
the entrepreneurs exposure and
juncture and helped us ‘fail fast’...
and counseling without human mediation.
introductions to influential fintech community members.
“Once we adopted a SaaS business model, we started to see
CoupleWise has now been included in ViiV’s
much more interest from companies like Bühler and GEA.”
patient wellbeing platform servicing 110,000 UK-based patients affected by HIV and are
— Roy Chikballapur, CEO of machIQ Diamond Winner MassChallenge Switzerland 2016
looking for other areas of collaboration.
“It is all about seeing how your business can align with the priorities of the partner.” — Dan Gallo Relationship 2.0, 2016 UK Finalist
“A week to catch up on what is happening in the Mexican fintech ecosystem, all from the voice of the entrepreneurs who are building the solutions.” — Enrique Majos CEO FIINLAB - Financial Inclusion Lab powered by GENTERA
DELIVERING PARTNER VALUE (CONTINUED)
PTC DEMO DAY AND NETWORKING MASSCHALLENGE ISR AEL
MassChallenge Israel collaborated with Gold partner PTC, a leader in the internet of things (IoT) and augmented reality (AR) markets, to host a demo and networking event for 30 of the MassChallenge 2016 finalist teams and saw attendence from PTC's IoT area manager, Ariel Hadar, and PTC's User Interface Senior Technical Consultant, Orit Itzhar. This event showcased, two of PTC's premium platforms, ThingWorx and Vuforia. ThingWorx provides IoT-specific development tools for innovators to rapidly build and deploy game-changing, smart, connected solutions. PTC ran a series of workshops including an eye-opening overview of the ThingWorx IoT platform and its broad applications and a hands-on workshop using Vuforia Studio Enterprise. This is a powerful new solution for building and publishing AR experiences in the enterprise. After the PTC demo day, sixteen teams across a number of industries, including high-tech and civic technology, were introduced to members of PTCâ€™s IoT and technical teams to explore opportunities to collaborate with PTCâ€™s IoT development tools.
“Corporates need to change the way that they are working, to work a bit more like startups to be agile, to join and be part of the ecosystem in order to succeed — not only to maintain the pace with innovation and changes, but also to increase market share and efficiency.”
GLOBAL DEMO DAY WITH PROCTOR & GAMBLE
— Or Klier Associate Director, BCG
the right questions and explore opportunities with each presenting
MASSCHALLENGE UK AND BOSTON
MassChallenge hosted its first global demo day in collaboration with Proctor & Gamble (P&G), where eight startups from both the Boston and UK cohorts presented to 20 senior global executives from multiple departments across five of P&G's global offices. They listened to pitches from startups who could potentially optimise engineering workflow to improving the future of physical product design and more. "Our new partnership with P&G has helped MassChallenge stretch the bounds of what's possible and take advantage of both our and their global scale. P&G did an incredible job ensuring that business leaders from relevant industry and functional verticals were on hand to ask finalist. We look forward to our on-going collaboration with P&G and also turning this model into a best practice in future years." — John Valentine, Director of Partnerships MassChallenge Boston
2016 BRIDGE TO MASSCHALLENGE PARTNERS Diamond SENA Biscay Regional Government Platinum
BRIDGE TO MASSCHALLENGE
“MassChallenge is definitely a great asset Bridge to MassChallenge strengthens
for international startups and I believe
innovation ecosystems and drives the
MassChallenge’s support will definitely help
creation of high quality jobs by supporting
our future business in Korea.”
entrepreneurs and connecting them to
— Junghyun Biak, CMO, EYL, Inc.
our global network. We collaborate with
Korea Innovation Center 2016 boot camp winner
entities around the world to understand
and MassChallenge Boston 2016 Diamond Winner
the potential and strategic value of their unique ecosystem, empower them to
ECOSYSTEM PL AYER
build their innovation communities, and connect them to global markets. Since 2012, Bridge to MassChallenge has been actively building ecosystems around the world: •
Provided value to 500+ startups.
Launched five new Bridge
the program’s founding in 2012.
Government of Victoria
Government of South Australia
not only for the day that we live in,
— Adnane Addioui, Morocco Boot Camp participant, December 2015
— Imanol Pradeles, Minister of Economic
Accelerator winners every year since
BRIDGE TO Microsoft Australia
will retain and attract top talent.”
every populated continent.
Commonwealth of Australia
Korea Innovation Center
the kind of robust and innovative ecosystem that
increase in engagement representing
able to push it forward to create a renaissance
“The MassChallenge model will help us create
10 new Bridge partners in 2016, a 300%
Jobs for NSW
foster our own local environment and then be
Through coalition building, welcomed
to MassChallenge programs across four continents.
Big Booster – Lyon
“By joining this mission, we will be able to
but for the future.”
OCP Entrepreneurship Network
Promotion, Biscay Government, 2015-2016 MassChallenge Platinum Partner
INNPULSA AT MASSCHALLENGE ISR AEL MARCH 2016
BRIDGE TO MASSCHALLENGE AUSTR ALIA NOVEMBER 2016
Five Colombian ecosystem leaders and 10 Colombian
MassChallenge kicked off applications for the first-ever Bridge to
entrepreneurs traveled to MassChallenge Israel in March 2016
MassChallenge Australia program on August 19th, 2016, helping
as part of Bridge to MassChallenge Colombia. Their time in the
Australian entrepreneurs succeed on a global scale.
region focused on immersion into the local innovation ecosystem and learning from the ‘Startup Nation’ on how to build a vibrant,
Bridge to MassChallenge Australia ran a nationwide startup competition to identify
high-growth environment for startups.
the highest-impact and highest-potential startups in the country. International judges and Australian entrepreneurial ecosystem leaders identified the top 45 startups to be
Prior to the Israel trip, in December 2015, Israel’s Ministry of
selected to take part in the bootcamps in Melbourne, Sydney, and Adelaide in November.
Economy and Colombia’s Foreign Ministry signed an agreement to promote R&D collaboration, commerce, and growth. By
Bridge to MassChallenge Australia had:
March 2016, there remained uncertainty as to which agency in
Partnership from Microsoft, the Commonwealth of Australia,
Colombia would represent as the acting partner. MassChallenge
Jobs for New South Wales, the State Government of Victoria,
helped create connections for iNNpulsa inside the Israeli
the State of South Australia, and Monash University
government that led to a formal collaboration.
3 state-based bootcamps (Adelaide, Melbourne, Sydney).
45 semi-finalists accelerated through the Bridge to MassChallenge Australia program with: •
10 high-impact and high-potential teams, winning an opportunity to attend a week long boot camp in Boston.
5 fast-track slots in MassChallenge 2017 accelerator program.
"MassChallenge brought... what I think is [it's] special ingredient — the ability to instill a willingness to ‘give-back’ and to collaborate and share for the benefit of others. Having four governments working together... alongside business, academia, and not for profits — to help others build businesses and solve problems... has set a tone and a legacy of what is possible when we work together." — Belinda Dennett Corporate Affairs Director, Microsoft Australia
TO OUR SUPPORTERS We want to thank all of our partners that help us make an impact on our world and on our startups. MassChallenge would not exist without the understanding and support of our partners, and their commitment to our vision. Thank you!
DIAMOND PARTNERS BOSTON
The Jerusalem Development Authority
MA Tech Collaborative
Commonwealth of Massachusetts Deshpande Foundation Fidelity Investments Jamestown John Hancock Josh Boger Kauffman Foundation
Ministry of Economy Ministry of Jerusalem and Heritage
Inartis Foundation Nestlé Swiss Economic Forum Swiss Re GEA
Microsoft The Boston Foundation
PLATINUM PARTNERS BOSTON
The Kraft Group
MassMutual P&G PepsiCo Pfizer Swiss Re Bose Corporation Honda Rhode Island Commerce Corporation (CommerceRI)
Fondeso Ciudad de MÃ©xico
The Village Bank
Gentera Fiinlab INADEM Promotora Social Mexico Reto Zapopan
Humana SWITZERLAND Canton de Vaud
UK Boston Consulting Group (BCG) GCHQ JP Morgan Chase Foundation Swiss Re ViiV
Boston Children's Hospital
GOLD PARTNERS BOSTON
Combined Jewish Philanthropy (CJP)
Altus Dental Boston Consulting Group (BCG) Cydan Development Deloitte
Fribourg School of Management
Robert Bosch Venture Capital GmbH (RBVC)
Satellite Applications Catapult Zeal Investment
EMC Corporation Foley & Lardner LLP General Mills Harpoon Brewery John W. Henry Family Foundation Joshua Boger Massachusetts Clean Energy Center
Mitsubishi Electric Rhode Island Foundation Smith & Nephew UPS Harris Corporation IBM State Farm
SILVER PARTNERS BOSTON
Boston Consulting Group (BCG)
Fischer Behar Chen Well Orion & Co
Boston University Brandeis University Duane Morris LLP Foley Hoag LLP Goodwin Procter LLP Morgan Lewis Our Generation Speaks PricewaterhouseCoopers (PwC) WPI First Republic Bank
Herzog Fox Neeman
Commune de Renens
Ropes & Gray LLP
Reinhold Cohn Group
Haute Ecole Gestion Fribourg
USM Modular Furniture
Yigal Arnon & Co. - Law Offices ESOP
Annual impact report about the stories, wins, and challenges completed in the year at MassChallenge Inc.