Excerpted from and photo provided by Jodi-Tatiana Charles, MassChallenge Brandographer
In the last 12 months, the 111 Finalists from the first-ever MassChallenge accelerator program have raised over $90 Million in outside funding and have created nearly 500 new jobs. Last month, Ksplice, a 2010 MassChallenge winner, was acquired by Oracle, marking the first exit of a MassChallenge-supported startup. “Based in the heart of Boston’s Innovation District, MassChallenge is helping ensure that Boston continues to deliver revolutionary results for the benefit of the local ecosystem, the country and the rest of the world,” Thomas M. Menino, Mayor of Boston.
MassChallenge will graduate another 125 startups in 2011 while continuing to support the 111 alumni startups from 2010. The 2011 Final Ceremony will be held in Boston on in late October. MassChallenge is actively exploring expansion to other physical locations around the country, including New York. The MassChallenge mission is to catalyze a startup renaissance and to redefine the U.S. economy as one based primarily on value creation, rather than value capture.
“There are many people out there trying to support entrepreneurs. MassChallenge is unique in bringing the entrepreneurial mindset to that support, willing to talk to anyone, try anything, or break any traditional rules to help build the next generation of startup companies,” Adam Rein, Founder, Altaeros Energies. Altaeros was a MassChallenge Finalist in 2010 and have since moved into the Greentown Labs on Summer Street in the Innovation District.
