{"id":38312,"date":"2023-10-20T14:55:38","date_gmt":"2023-10-20T14:55:38","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/one-of-the-worlds-biggest-accelerators-masschallenge-is-coming-to-australia\/"},"modified":"2023-10-20T14:55:38","modified_gmt":"2023-10-20T14:55:38","slug":"one-of-the-worlds-biggest-accelerators-masschallenge-is-coming-to-australia","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/one-of-the-worlds-biggest-accelerators-masschallenge-is-coming-to-australia\/","title":{"rendered":"One of the world’s biggest accelerators MassChallenge is coming to Australia"},"content":{"rendered":"
\"MassChallenge<\/div>\n

The accelerator claiming to be the “most startup friendly in the world”\u00a0is setting up shop in Australia thanks to $280,000 in funding from the federal government.<\/p>\n

Minister for innovation Christopher Pyne announced on Wednesday that Boston-based accelerator MassChallenge will be coming to the country, bringing with it \u201cidea-pitching competitions, startup bootcamps and local and international mentoring\u201d.<\/p>\n

\u201cMassChallenge has a proven model that has graduated 835 alumni since 2010, raised $1.1 billion in funding, generated over $520 million in revenue and created 6500 jobs,\u201d Pyne says.<\/p>\n

\u201cThat is the kind of opportunity we want to create for startups here in Australia whilst also helping upskill the Australia innovation ecosystem.\u201d<\/p>\n

MassChallenge, a non-profit that doesn\u2019t take any equity from participating startups, will be partnering with Microsoft and the federal government to launch in Australia.<\/p>\n

The accelerator takes in 128 startups annual for a four-month program, who fight it out for up to $US3 million in funding at the end of the course.<\/p>\n

It claims to the only accelerator in the world to support high-impact, early-stage entrepreneurs with \u201cno strings attached\u201d.<\/p>\n

MassChallenge senior director of global partnerships Kara Shurmantine says Australian founders and entrepreneurs will soon have access to an extensive global network of mentors.<\/p>\n

\u201cMassChallenge is excited to support the highest-impact entrepreneurs in Australia to help boost the innovation economy across the country,\u201d Shurmantine says.<\/p>\n

\u201cWe will also work to connect entrepreneurs and the wider ecosystem with our global network across the US, Europe, Israel, Latin America and beyond.<\/p>\n

\u201cThis allows us to gain a valuable connection to the thriving startup scene in Australia and we\u2019re looking forward to working with key players here to exchange best practices and help the ecosystem to flourish.\u201d<\/p>\n

Pyne says these sorts of programs are crucial for growing the local startup community.<\/p>\n

\u201cAccelerators are an important component of the ecosystem and boost the skills of participating startups through training, mentoring and exposure to investor networks,\u201d he says.<\/p>\n

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The accelerator claiming to be the “most startup friendly in the world”\u00a0is setting up shop in Australia thanks to $280,000<\/p>\n","protected":false},"author":2,"featured_media":61713,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/38312"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=38312"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/38312\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/61713"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=38312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=38312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=38312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}