Following the announcement of the 90 finalists for the first UK cohort of MassChallenge, we caught up with the team to hear more.
MassChallenge is now set to be the largest startup accelerator in London. The 90 teams selected for its first UK cohort participate in its four-month programme that offers free office space, mentorship, access to a global network of resources and support, and educational workshops and lectures. At the end, shares of £500,000 are awarded to the top teams – with no equity taken.
Of the 90 teams, just over 75 are UK-based and the others come from 10 countries, including five startups from Israel. There is a variety of startups participating, from fashion players like Fikay Eco Fashion, to food maestros like Pronto and FinTech disruptors like Xenapto. The dominant industries for finalists include internet & web services, enterprise software and hardware.
MassChallenge Boston, founded in 2010, simultaneously announced their 128 finalists. Of the 218 startups globally, 35% are in high tech, 18% are healthcare and life sciences, 22% are general retail and consumer goods, with the rest operating in the social impact, cleantech and energy spaces.
“The 218 startups that will be entering our 2015 accelerator include many of the highest-impact startups in the world,” said MassChallenge CEO, John Harthorne. “From Boston to London to Israel and beyond, the global distribution of these early-stage companies highlights the universal need and opportunity to provide startups with access to key people and resources to help them launch and succeed.”
MassChallenge is different than many other programmes in that it does not take any equity from the teams it supports. Structured as a not-for-profit, MassChallenge relies on sponsorships to operate and offers its programme for free to startups – no strings attached.
MassChallenge UK has been grateful for the support from Tech City UK and is looking forward to an exciting summer filled with events, workshops, mentorship, and of course, startups! To stay in the loop with ways to engage, sign up for the newsletter, or follow on Twitter and Facebook!