Texas
29 January 2020

MassChallenge Texas Announces $750,000 in Equity-Free Cash Prizes for Startups in their 2020 Texas-Based Programs

(AUSTIN, TEXAS) – MassChallenge Texas, part of MassChallenge’s global network of zero-equity startup accelerators, announced last night that applications for its 2020 programs in Houston and Austin are now open. The accelerator programs launched with public kick-off events in Austin and Houston where they announced key benefits for startups in this year’s programs including global hyper-connectivity for participating startups, six months of free coworking space in each city, and up to $750,000 in equity free cash prizes. Those interested in participating in MassChallenge Texas’ 2020 programs can visit masschallenge.org/apply to start their application. The deadline to apply is March 9, 2020 at 12 p.m. (noon) ET. For more on MassChallenge Texas, see here

“Since our launch in 2017, we have seen how MassChallenge’s proven model for helping startups supports the Texas ecosystem by bringing together the best mentors, experts, partners and startups to forge kinetic intersections where new ideas begin to take flight and are shaped to impact the lives of their customers,” said Mike Millard, Managing Director of MassChallenge Texas in Austin. “The Texas community has helped 181 startups raise $74M dollars, generate $31.6M in revenue, and create 6,222 jobs. This community continues to be instrumental in bringing the best talent, jobs, and funding to Texas increasing our overall competitiveness in the region.”

As a leader in startup and corporate collaboration, MassChallenge Texas will introduce three new program tracks in 2020 to strengthen innovation in the Defense Innovation, SportsTech, and Space Commercialization spaces where there has been a strong uptick in Texas-based activity. Each track will accept 10 top startups to participate in industry-specific curriculum and will have access to specialized mentors and partner events. 

MassChallenge Texas’ programs in Austin and Houston will run from June through September 2020. Up to 200 cutting-edge startups will be selected for a seat in one of the international cohorts where participating startups will receive six-month of free coworking space, access to industry experts and mentors, a bespoke curriculum, access to top corporations, up to $250K in brand name deals and more, all at zero cost and for zero equity. Each program will conclude with an Awards Ceremony where top startups will be awarded equity-free cash prizes worth up to $750,000 across the two programs.

“The connectivity, opportunity, and access that MassChallenge Texas is bringing to the Texas startup ecosystem this year were only ideas when the accelerator launched in the Lone Star State two and a half years ago,” said Jon Nordby Managing Director of MassChallenge Texas in Houston. “It’s our goal to create a connected experience for startups where they can benefit from multiple programs running across the state while leveraging the unique focus of each city’s distinct opportunities and strengths.”

Attendees of the launch events were greeted by alumni startups and had the chance to connect with partners from MassChallenge Texas’ network. The launch program, which included an introduction from MassChallenge’s co-founder and former CEO John Harthorne, was broadcast via a web stream where startups, experts, and partners interested in learning more could plug in and discover ways to get involved. The web stream will be made available for viewing as part of MassChallenge Texas’ upcoming road show that includes more than 20 events across the state and several webinars per week. Find a MassChallenge Texas event near you by checking the not-for-profits Facebook page.  

Learn more about this year’s program, industry tracks, and equity free prizes are available in this blog post.

MassChallenge Texas Founding Partners

TMAC, WeWork, Upstream

MassChallenge Texas Civic + Corporate Partners

BAE Systems, BHP, Central Houston, City of Houston, Downtown Redevelopment Authority, Ingram Micro, Reliant an NRG company, UPS, Winstead, and the Texas Foundation for Innovative Communities 

MassChallenge Texas Launch Partners

Southwest Airlines, USAA

About MassChallenge

MassChallenge is a global network of zero-equity startup accelerators. Headquartered in the United States with locations in Boston, Israel, Mexico, Rhode Island, Switzerland, and Texas, MassChallenge is committed to strengthening the global innovation ecosystem by supporting high-potential startups across all industries, from anywhere in the world. To date, more than 2,300 MassChallenge alumni have raised more than $5 billion in funding, generated more than $2.7 billion in revenue, and created more than 136,000 total jobs. Learn more about MassChallenge at masschallenge.org. 

Mission

MassChallenge strengthens the global innovation ecosystem by accelerating high-potential startups across all industries, from anywhere in the world.