Big things are happening at MassChallenge.
The network of zero-equity startup accelerators announced on Thursday that it's looking for its next CEO. During the search, founder and current CEO John Harthorne will remain in the role he's held for almost a decade—and he’s not really moving far away.
The incoming candidate will take over Harthorne's role as he will take over the leadership of a separate for-profit entity that will help MassChallenge alumni further accelerate their growth.
The name of the new MassChallenge CEO will be announced during the first half of 2019, following a rigorous vetting process, Harthorne wrote in an email to BostInno.
"While we are open to leaders from around the world, the next CEO of MassChallenge will be based out of our global headquarters in Boston and is most likely to come from within the Boston startup ecosystem," Harthorne wrote.
Harthorne added that MassChallenge will continue to execute new growth initiatives, including its newest vertical program MassChallenge FinTech, which accelerates promising startups in the financial technology space. The announcement of the inaugural MassChallenge FinTech cohort is scheduled for December.
The new for-profit company that Harthorne will be leading is still in the making. MassChallenge did not disclose any details about the new company.
Last month, 19 of Boston’s most promising early-stage startups won a total of $1.65 million at the MassChallenge awards ceremony. Additional $50,000 were awarded to three companies in the first-ever MassChallenge Rhode Island cohort.
This year, 51 percent of the MassChallenge cohort of startups had at least one female founder.
An earlier version of this story appeared on Thursday's edition of the BostInno Beat, our daily newsletter covering all things innovation and startups in Boston. Subscribe here.
