IMPACT REPORT 2016

1

CONTENTS LET TER FROM THE CEO

3

MASSCHALLENGE IMPACT

5

ALUMNI IMPACT

9

2016 ACCELER ATOR HIGHLIGHTS

11

NEW INITIATIVES

23

STARTUP/CORPOR ATE COLL ABOR ATION

25

DELIVERING PARTNER VALUE

26

GLOBAL ECOSYSTEM BUILDING: BRIDGE TO MASSCHALLENGE

31

THANK YOU TO SUPPORTERS

33

2

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,

Sincerely,

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

John Harthorne

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.

4

MASSCHALLENGE

IMPACT

"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. That’s the

— 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.

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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.

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IN 2016,

4,269 376

FINALISTS

APPLICATIONS FROM 81 COUNTRIES

1,670 OFFICE HOURS

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38%

FEMALEFOUNDED STARTUPS

SINCE 2010,

1,211 RAISED OVER

$1.8B

IN OUTSIDE FUNDING

ALUMNI HAVE: GENERATED OVER

$700M

IN REVENUE 8

CREATED OVER

60,000 JOBS

ALUMNI IMPACT

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

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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.

Estrenón

mOm Incubators

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?

pre-owned clothing.

• 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.

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and manufacturer.

2016 ACCELERATOR

HIGHLIGHTS 11

BOSTON

ISRAEL

SWITZERLAND

UK 12

MEXICO

BOSTON

“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.

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FEATURED MENTOR: DONNA BREZINSKI, CEO LITTLE SPARROWS TECHNOLOGIES

FEATURED EVENT: MASSCHALLENGE BOSTON AWARDS 2016

7th

program year

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

1,700+ applications

128

startups accelerated

well into the night — demonstrating the enthusiasm of the entire Boston startup community.

230 experts

60

startup workshops

6,000+

event attendees in 2016

$1.5M 14

in equity-free awards

ISRAEL

“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.

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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.

1st

program year

520

applications

development, regulation, and market penetration. All companies indicated how valuable his vast experience was, for instance, Yehuda Elram, Co-Founder of

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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

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have Yehuda as our mentor." Thanks Yehuda!

startups accelerated

190

experts

50+

startup workshops

₪1 Million 16

in equity-free awards

MEXICO

“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.

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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

1st

program year

449

applications

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startups accelerated

to every startup she knows! Thanks Mary! "MassChallenge Mexico was a great opportunity for

47%

me to be able to exchange experience, perspective and expertise with a community of startups

female-founded startups

in Mexico. Not only did I learn a lot from the companies, but I also made some new friends." — Mary Claire Whitaker Lead Consultant, VEDP Global Network Partner for Mexico

247 experts

64

startup workshops

84

office hours

$100,000 18

in equity-free awards

SWITZERLAND

"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.

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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,

included:

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!

1st

program year

450

applications

70

startups accelerated

256 experts

55

startup workshops

CHF 13M

($12.6 million USD) funding was raised during the 4-month acceleration period

400,000 CHF 20

in equity-free awards

UK

“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.

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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.

2nd

program year

1,300+ applications

76

countries represented in application pool

100

startups accelerated

334 experts

60

startup workshops

541

office hours

£125,000 22

in equity-free awards

NEW

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.

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“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.

•

89% NPS.

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

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STARTUP/CORPORATE

COLLABORATION

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 ”

Corporations are

At an overwhelming 82%,

For most of the

The study showed that 44%

Startup/corporate relationships

increasingly interacting

corporations now view

corporations surveyed,

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

corporate respondents

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.

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DELIVERING

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

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— 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

FINTECH WEEK

“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 MEXICO

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

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“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

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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 PTC’s IoT and technical teams to explore opportunities to collaborate with PTC’s IoT development tools.

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“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

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BUILDING

GLOBAL ECOSYSTEMS

2016 BRIDGE TO MASSCHALLENGE PARTNERS Diamond SENA Biscay Regional Government Platinum

STARTUP

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

ASSESS

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.

CONNECT

Government of Victoria

Government of South Australia

Zapopan MASSCHALLENGE

not only for the day that we live in,

Monash University

— 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

UrbanGrowth NSW

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

PARTNER

Through coalition building, welcomed

iNNpulsa Colombia

Gold

to MassChallenge programs across four continents.

Big Booster – Lyon

“By joining this mission, we will be able to

but for the future.”

BUILD

OCP Entrepreneurship Network

Promotion, Biscay Government, 2015-2016 MassChallenge Platinum Partner

31

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.

•

200 applicants.

•

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

32

THANK YOU

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!

33

DIAMOND PARTNERS BOSTON

ISRAEL

SWITZERLAND

PULSE@

CASIS

The Jerusalem Development Authority

Bailly Foundation

MeHi

Barry Callebaut

AARP

Bühler

MA Tech Collaborative

Givaudan

Shire

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

34

PLATINUM PARTNERS BOSTON

ISRAEL

MADE@

PULSE@

American Airlines

Bank Hapoalim

Analog Devices

Analog Devices

Boehringer Ingelheim

PTC

Autodesk

Bose Corporation

CVS Health

The Kraft Group

Draper Laboratory

Liberty Mutual

Henkel

MITRE Corporation

Pfizer

L'Oreal

PTC

Servier

MassMutual P&G PepsiCo Pfizer Swiss Re Bose Corporation Honda Rhode Island Commerce Corporation (CommerceRI)

Sunovion Pharmaceuticals

MEXICO

NIC

Fondeso Ciudad de México

The Village Bank

Harvard Pilgrim

Wells Fargo

Vertex

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

35

GOLD PARTNERS BOSTON

ISRAEL

UK

AIG

Combined Jewish Philanthropy (CJP)

Eversheds

Altus Dental Boston Consulting Group (BCG) Cydan Development Deloitte

Fribourg School of Management

DELL/EMC

IBM

Jerusalem Foundation

P&G

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

MEXICO

MADE@

Aeromexico

Arrow Electronics

SWITZERLAND

PULSE@

Swiss Re

BD Phillips

Mitsubishi Electric Rhode Island Foundation Smith & Nephew UPS Harris Corporation IBM State Farm

36

SILVER PARTNERS BOSTON

ISRAEL

MEXICO

UK

Aetna

Boston Consulting Group (BCG)

Greenberg Traurig

Digital Catapult

Babson College

Fischer Behar Chen Well Orion & Co

Baker McKenzie

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

SWITZERLAND

PULSE@

Liberty Mutual

Commune de Renens

Ropes & Gray LLP

Reinhold Cohn Group

Haute Ecole Gestion Fribourg

Sagent Management

Xerox

Strauss Group

Vitra

Tnuva

Teo Jakob

Wissotzky

USM Modular Furniture

IBM

Yigal Arnon & Co. - Law Offices ESOP

37

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