MassChallenge

MassChallenge is a global, zero-equity startup accelerator, founded in Boston, Massachusetts in 2009. As of 2019, MassChallenge has accelerated more than 1,900 startups that have raised more than $4.3 billion in funding and generated $2.5 billion in revenue. 
MassChallenge is headquartered in Boston's Seaport District in the Innovation and Design Building.
History.
MassChallenge co-founders John Harthorne and Akhil Nigam were working as strategy consultants at Bain & Company during the global financial crisis in 2008. It was at this time that John and Akhil developed the concept for MassChallenge, a not-for-profit startup competition that would help jumpstart the global economy by supporting entrepreneurs around the world. MassChallenge secured early support from successful entrepreneurs like Desh Deshpande and Joe Fallon, the public sector including Thomas Menino the then-Mayor of Boston and the Commonwealth of Massachusetts, and large organizations like The Blackstone Charitable Foundation and Microsoft. 
During its first Boston-based cohort in 2010, MassChallenge accelerated 111 startups. In 2018, MassChallenge accelerated 449 startups from 54 countries across its eight accelerators worldwide. MassChallenge accepts less than 10% of all applicants. 
Structure.
MassChallenge runs one accelerator program in each of its locations and in each of its verticals each year. MassChallenge does not take equity from its startups, and in turn, provides $3M in non-dilutive cash prizes globally to the top startups at the end of the program. 
Accelerators.
In MassChallenge's accelerators (Boston, Israel, Mexico, Switzerland, Texas), selected startups are early-stage (<$1M in funding) and participate in a four-month, industry-agnostic program where they receive mentorship, entrepreneurship and industry training, free co-working space, and the opportunity to win non-dilutive cash prizes.
Vertical Programs.
In MassChallenge's vertical accelerators (HealthTech and FinTech), selected startups are later stage (<$10M in funding) and participate in a six month long program where they partner with a top business, institution, or organization to solve key challenges related to their industry.
Corporate Partnerships.
As a not-for-profit, MassChallenge is primarily supported by corporate partnerships. Top partners include The Boston Foundation, Buhler, CASIS, Facebook, General Electric, MassMutual, Microsoft, Nestle, Southwest Airlines, and Vertex.
In June 2019, MassMutual announced that it would donate an entire floor of its new $240 million office building at 10 Fan Pier Boulevard in the Boston Seaport district to MassChallenge for five years rent-free starting in 2021 when the building opens. 