February 15, 2013
Rather than being a separate affair, MassChallenge Israel just invites Israeli startups to participate in the regular Boston program. This year’s competition takes place from June 25 to October 30, with startups receiving mentorship and office space.
MassChallenge is unlike traditional accelerators because there is no guaranteed exchange of funding for equity. Instead, 125 startups are competing for prizes of up to $100,000 each.
The organization sees Israel as a logical choice for their first expansion.
“We are highly impressed with the innovation we see in Israel and . . . we wish to honor and expand on the strong historic ties between our two communities,” says MassChallenge, which now has a team in Tel Aviv.
In fact, Startup Genome’s Startup Ecosystem Report ranked Tel Aviv the #2 startup ecosystem in the world, after Silicon Valley.
To qualify, startups must be headquartered in Israel and have a team of at least 50 percent Israeli residents. Their applications will first be assessed by Israeli judges, then sent to Boston to be part of the regular application process.
Applications are due April 10 for Israeli startups (and April 3 for US startups). Look out for MassChallenge expanding to new locations in the future.
Did you like this article?
Get more delivered to your inbox just like it!