Tech cos. lead startup competition for ’13

Written By Unknown on Sabtu, 06 April 2013 | 23.54

The deadline for the MassChallenge competition and accelerator passed this week, with "well over" 1,000 startups applying for spots, but the need to push back the date and the addition of an Israeli branch of the program had organizers still tabulating the number of applications.

MassChallenge Founder and CEO John Harthorne said he expects the total number to come in close to the 1,237 received last year from 35 countries.

"I'm pleased it's going to be another outstanding class," Harthorne said.

Organizers pushed back the deadline from noon Wednesday to noon Thursday after multiple people requested more time.

The Israel deadline is April 10, because MassChallenge launched that branch of the competition a month after the rest of the program's Feb. 13 launch and because of Passover, he said.

High-tech startups lead the pack in the number of applicants this year, followed by "social impact," health care and life sciences and clean technology, Harthorne said.

Judges will spend roughly a month reviewing the applications and providing written feedback, and then MassChallenge will invite about 330 startups to the semi-final round, where they'll do in-person pitches.

On May 22, 125 finalists will be invited to take part in the program's four-month accelerator, which includes mentoring, training, legal advice and free office space.

Winners will be announced on Oct. 30 and awarded a total of more than $1 million in no-strings-attached cash, with no equity taken and no restrictions applied.

In 2011, President Obama honored MassChallenge as one of the nation's best organizations for supporting high-growth entrepreneurs, and the program was the youngest inaugural affiliate of the Startup America Partnership.

The 361 startups supported in the three previous MassChallenge accelerator classes have generated nearly $100 million in revenue, raised more than $362 million in outside funding and created nearly 3,000 new jobs.


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