Editor's Note: The following was published Oct. 25 on BostInno and is reposted here with permission.
It was a formal affair.
On Thursday evening, MassChallenge took over the grand ballroom at the Boston Convention and Exhibition Center in the Seaport District, just a 20-minute walk down the street from its headquarters on Drydock Avenue. It's not unlike the incubator's space in the Innovation and Design Building, where startup teams hunker down to realize their business plans across 26,000 sq. ft. on the building's sixth floor.
Here, 125 teams from MassChallenge's 10th Boston cohort and second Rhode Island cohort had the opportunity to pitch their startups one last time during a well-attended showcase just outside the ballroom. Patagonia vests were exchanged for suits; Allbirds for Oxfords.
Just 12 startups would ultimately win just over $1 million in zero-equity cash prizes, provided via partnerships MassChallenge maintains with Boeing and the International Space Station National Lab. All the teams had spent the last four months in the Boston and Rhode Island accelerator programs, through which they received workspace, access to mentorship and investors and a basic business curriculum.
This year, one-third of the startups in MassChallenge Boston were in health care and life sciences, more than any other category. Just under one-third were “high tech.” Other categories included social impact; cleantech and energy; and general, retail and consumer goods.
The startups also had a diverse set of founders: Nearly half of the enterprises had at least one female founder, and one-fifth had a founder of color. Sixty-one startups were based in Massachusetts.
Speakers over the course of the evening included Boston Mayor Martin J. Walsh, Airbnb co-founder (and Boston native) Nathan Blecharcyzk, MassChallenge CEO Siobhan Dullea and MassChallenge Rhode Island co-director Hope Hopkins.
"I want to congratulate all the startups graduating today," Walsh told the crowd of about 1,600. "You're taking on our city's and the world's biggest challenges."
Hopkins noted that MassChallenge has been a champion of startup ecosystems outside of the traditional hubs of Silicon Valley and New York City, calling the nonprofit incubator "a testament to the impact of innovation and the power of collaboration." Headquartered in Boston, MassChallenge is now in Rhode Island, Israel, Mexico, Switzerland and Texas, with vertical programs in healthtech and fintech.
And MassChallenge isn't done yet.
"Going forward, MassChallenge is going to have a laser-beam focus on impact and community," Dullea said. "These startups tonight? They're not interested in being small businesses." They want, she said, to be global enterprises.
And the winners are...
MassChallenge Boston
$100K Diamond Winners
Tellus Therapeutics North Carolina | Health Care/ Life Sciences
Developing novel small molecules derived from human breast milk to reverse the neonatal brain injury that leads to cerebral palsy.
$75K Platinum Winners
Ashored Innovations Nova Scotia | Health Care/ Life Sciences
Developing sustainable fishing technology to reduce/prevent marine entanglements, ghost gear, and ocean waste in commercial fishing.
EnVision Endoscopy, Inc. Massachusetts | Health Care / Life Sciences
Developing a novel image guided suturing device to allow gastrointestinal endoluminal surgeries & reduce cost of care.
Up to $50K Gold Winners
JobGet Massachusetts | High Tech
Reduces the time to hire a staff down to less than 24 hours, compared to the normal process of several weeks.
Lab Grown Source Utah | High Tech
Directly connecting buyers and sellers of lab grown diamonds.
Legacy Massachusetts | Health Care / Life Sciences
Helping men preserve their fertility by providing an affordable, at-home kit that they can use to test and freeze their sperm.
Pison Massachusetts | High Tech
This startup is operating in stealth mode and did not provide a description to MassChallenge.
Rezztek by SPECTER HOCKEY Slovakia | General
Introducing a next generation material for the blade of the hockey stick that makes you a better player.
United Aircraft Technologies, Inc. New York | General
Developing a novel lightweight Smart Fastener for aircraft to improve fuel economy and simplify maintenance.
MassChallenge Rhode Island
GoTeff Rhode Island | General
Uses Teff, a super-food from Ethiopia, with the vision to sell Teff products in US while investing in Ethiopian farmers.
Intus Care Rhode Island | Health Care / Life Sciences
Mobile and online platform connecting home care providers with the elderly and disabled in need of care.
Legably Rhode Island | High Tech
Marketplace that connects freelance attorneys with other lawyers, law firms, and legal staffing agencies for short-term work.
