When immigrant-focused incubator PLUG shuttered in November last year, founder Oliver Sanchez had no time to mourn. His next project, AccelHub, needed his attention.
Like PLUG, AccelHub is an accelerator, just without the physical space. It boasts programming, pitch nights and information sessions geared towards immigrants, and now, seven months since its inception, AccelHub is kicking off its first cohort.
"We want to build a bridge between the international startup community and what we have here [in Boston]," said Gregory Geehan, who is a board member at AccelHub and a mentor at MassChallenge's PULSE program. "This is an opportunity for these startups to access resources they cannot find at home."
While the program was designed to host six Mexican startup founders, its maiden batch includes eight companies in the health care, AI and blockchain industries that have demonstrated market traction, have a globally scalable business run by two founders and had the ability to fly to Boston for the six-week program. The curriculum will, in part, focus on cultural adaptation and international expansion for participants (who are all listed here.)
When Sanchez pulled the plug on PLUG, he realized it was necessary for its spirit to stay alive. And when he found takers for his proposal at the Mexican government, he knew he was onto something. For Sanchez, the success of the program is its own reward. And for Mexico, it’s a chance to change its narrative on immigration in the current political climate.
"These programs represent who we are," said Graciela Gómez-García, acting consul general of Mexico in Boston. "As a country which has young entrepreneurs who are international, educated and skilled, we want to fight the stereotype [on Mexican immigrants] and tell their stories."
The program kicked off with an orientation at MassChallenge Mexico. And for the entrepreneurs, it is designed to connect them to a global network of clients and mentors, get industry expertise from specialists and mentors as well as hone their networking skills and elevator pitches. But most importantly, the program opens up a pathway to move the company to the U.S.
For cohort member Adrien Châtillon, CEO and co-founder of biotech startup Actipulse Neuroscience, the program's emphasis on utilizing global resources and mentor insight to expand was enticing. Enough for Châtillon to start the process of setting up an R&D center for his startup in Boston.
"The best outcome of this program would be a chance to complete our Series A investment and meet other researchers at Harvard, MIT," Châtillon said.
For BioSense founder David Shimomoto, whose startup makes non-invasive glucose monitoring devices, AccelHub has been a conduit for potential industry partnerships. In fact, he's already in talks with possible investors from Silicon Valley and working with lawyers to set up a subsidiary in Boston by the end of the month.
Cohort participants aren't the only ones who are experiencing the benefits of AccelHub's work; VC firms are, too. For investors, this a chance to meet companies working on solving common problems elsewhere. Not only does this increase their exposure to international startups but also provides a structured way of making the connection viable.
Boston has always welcomed startups from all over the globe,” said Chandhu Nair, founder and managing partner at Boston-based VC firm, Merkatus Partners. However, “there is a hesitancy among the VC community to invest in non-U.S. startups, so I’m glad it is getting the VC community here exposed to these startups.”
Commenting on the need to strengthen a culture that promotes knowledge-based economies, Gómez-García said, "The global marketplace for talent and ideas is open, and they [the founders] are our ambassadors."
The program which began on May 20, will end with a demo day on June 28.
