MassChallenge Texas Managing Director Mike Millard speaks at the 2019 application launch at the Austin Film Society. Photo courtesy of MassChallenge Texas
MassChallenge Texas announces startup accelerator
MassChallenge, a global network of zero-equity startup accelerators, opened applications for its second Texas-based accelerator for high-impact, early stage startups across all industries from anywhere in the world. The deadline to apply is March 13 at 11 a.m. CST.
Applications were opened at a public launch event on Jan. 23 at the Austin Film Society. MassChallenge Texas Managing Director Mike Millard lead the event through a short presentation that outlined the year two program.
“After our first year, it is clear that through the MassChallenge model we can attract, advance and accelerate the missions of startups, corporates, investors and all ecosystem collaborators right here in Texas,” Millard said. “For our second year, we are creating a more robust and engaging program designed to help all our startups grow and succeed.”
MassChallenge Texas will support up to 100 startups during the accelerator, which will run from June through October 2019. During the accelerator, participating startups will receive a six-month complimentary community membership to WeWork, access to industry experts and mentors, curriculum, access to top corporations and more, all at zero cost and for zero equity.
It also provides participating startups an in-kind resource network worth more than $150,000 in deals and discounts. To further support the most promising early-stage startups, MassChallenge Texas is expanding the program’s curriculum to provide tailored instruction on topics like fundraising, entity selection and designing corporate partnerships. At the culmination of the accelerator, top startups will compete for cash prizes and in-kind support, worth more than $500,000.
In addition to the tangible benefits of the MassChallenge Texas program, there is the value of the MassChallenge expert community and the foundation they provide the startups during the program.
“Being part of MassChallenge Texas helped us focus, set goals and properly execute upon them. We loved meeting the other companies in the cohort and appreciate the community that surrounded us during this time,” Candace Leak, CEO and founder of Loanables a MassChallenge Texas 2018 participant, said. “The expert program was incredibly beneficial, connecting us to industry and practical knowledge from across the state. The environment the MassChallenge Texas team facilitated was extremely motivating. I’m excited to see what they do this year meet the 2019 cohort.”
In its first cohort in 2018, MassChallenge Texas accelerated 84 companies that have raised more than $25 million in funding, generated $14 million in revenue, and created 370 jobs. MassChallenge Texas is supported by a public-private partnership that includes founding corporate partners Southwest Airlines, TMAC, WeWork, USAA, and Upstream. Together, MassChallenge Texas and its partners will strengthen and grow the innovation ecosystem across the state and connect the ecosystem to MassChallenge’s global network of programs in Boston, Israel, Mexico, Rhode Island, Switzerland and the UK. New partners coming to the table include BAE Systems, BHP, Ingram Micro and the San Antonio Spurs.
To date, 1,900 MassChallenge alumni have raised more than $4 billion in funding, generated more than $2 billion in revenue, and created over 120,000 total jobs. Learn more at MassChallenge's website.