Three companies from the MassChallenge Rhode Island cohort won big last night at the MassChallenge Awards, held at the Boston Convention and Exhibition Center.
CBC Wind Energy, T-Var EdTech and AirWorks received shares of the $50,000 prize at the ninth-annual event, which celebrated (in part) the conclusion of the fist-ever MassChallenge Rhode Island's first cohort.
Additionally, 15 MassChallenge participants won cash shares of a $1 million prize, with two startups winning $500,000 thanks to a partnership with CASIS & Boeing. PepsiCO also provided $150,000 (a new prize this year) to two startups who are working to innovate in the food and beverage industry. BostInno has coverage of the MassChallenge winners here.
"Everyone dreams of changing the world, but very few people actually set out to do it," said Kiki Mills Johnston, managing director with MassChallenge Boston. "It's been incredible to engage with top entrepreneurs as they develop solutions to dramatically improve our society from the way we live to the way we work. We are proud to collaborate with the powerful innovation communities in Boston, Rhode Island and around the world to ensure that any entrepreneurs, regardless of background or industry, has the opportunity to turn their world-changing ideas into realities. Congratulations to this year's winners and to all of the startups from our 2018 cohort!"
The MassChallenge Rhode Island program was initially announced in early February. It follows MassChallenge's foray into the Ocean State in 2016, for its startup boot camp program, Bridge to MassChallenge. That event was a limited testing of the market, said Andrew Mallon, MassChallenge Rhode Island program director, in a previous Rhode Island Inno report on the initiative.
Finalists then participated in an equity-free accelerator, where they had access to MassChallenge's Boston network and resources.
"The quality of our inaugural cohort not only demonstrates the potential impact of entrepreneurship, but the strength of the Rhode Island innovation ecosystem as well," Mallon said in a statement when the first cohort was announced. "With support from corporates, mentors and innovation enthusiasts across the state, promising startups from all backgrounds will have an opportunity to successfully launch and scale, making our society more collaborative, optimistic, and effective along the way."
Last night was the capstone event for these startups, who were among more than 1,600 attendees across nations and industries. The awards included announcing prize winners, a showcase including participating startups and pitches, as well as keynote from ezCater CEO and co-founder Stefania Mallett.
Here are the Rhody winners (with descriptions provided by MassChallenge):
- T-var EdTech: United States, Rhode Island; "Designs and sells devices that teach children of all abilities how to read."
- CBC LLC: United States, Rhode Island; "Cost effectively produces renewable, resilient power in built environments, including urban and coastal areas."
- AirWorks: United States, Massachusetts; "Provides aerial intelligence and analytics to the construction industry to yield time and cost efficiencies."
