2011 06-30 mass challenge overview and metrics

DRAFT

Overview and 2010 metrics

January 2010

MassChallenge !overview and metrics

John Harthorne [email protected]

Akhil Nigam [email protected]

Karl Büttner [email protected]

June 2011

Copyright © 2011, MassChallenge, Inc. All Rights Reserved.

MassChallenge mission

To catalyze a

startup renaissance

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MassChallenge is fostering innovation and growth via a global startup competition

MassChallenge startup competition

A global competition designed to

attract, strengthen, filter, and enable funding

for the best startups to launch immediately


The startup competition connects innovators with supporters and resources throughout

Annual $1M Startup Competition and Accelerator

•  Anyone can enter, from anywhere, with any startup

•  Everyone gets training and access to networks & resources

•  Expert judges identify highest impact, most viable startups

•  Finalists are matched with mentors and free resources

•  Highest impact, most viable startups win awards

•  Sponsors, partners, alumni are integrated into all stages

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Accelerate finalists

Prepare MassChallenge

Accept applications & prepare entrants

Engage all participants and alumni

2 rounds of judging

Jan 2011

March 8

April 11

May 24 Prepare finalists for accelerator

Final Judging Final ceremony Oct 20

Oct 1

2011 Competition Dates

June 20


In year 1, MassChallenge was largest competition & accelerator ever: 446 entrants and 111 finalists

MassChallenge launch event with Governor Deval Patrick, Boston Mayor Thomas Menino, and passionate innovators.

•  Largest-ever startup competition and accelerator •  446 applicant startups from 26 countries and 24 states •  Over 300 different judges and mentors participated

•  Concierge-like support for 111 startups •  Office space, mentorship, press/media support and much more •  Satisfaction rates among finalists higher than for Apple customers

•  Millions of dollars in funding facilitated •  $1M in cash prizes across 16 winners •  Connections resulting in significant angel and VC financing

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In first year, MassChallenge secured support from leaders in each area of innovation ecosystem

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Universities

People Businesses & Foundations

Entrepreneurs Angels & VCs

Government

MassChallenge Startup Catalyst

• US President Barack Obama • MA Governor Deval Patrick • BOS Mayor Thomas Menino

• 40+ VC and Angel funds involved as mentors/judges • 20 of top 100 VC funds

• Dozens of individual angels

• Microsoft, Blackstone, Verizon and 15+ more

• Desphande Foundation

• Kauffman Foundation

•  30+ Universities engaged to provide funding, research, students and mentors

•  Direct support from Presidents of Umass, MIT Babson, WPI, BU, Northeastern, and Tufts

•  Strong support via entrepreneurship centers at Harvard, Dartmouth & many more

• 250+ events including training and job fairs

• Media coverage on Fox Business, CNBC etc.

• Core Sponsors/Advisors: • Desh Deshpande • Josh Boger • Ken Morse

• 446 applications 111 startups as finalists

Copyright © 2011, MassChallenge, Inc. All Rights Reserved. 6

MassChallenge Accelerator 2010: 111 startups, 27K+ ft2 office space, 200+ mentors, $1M in grants

2010 Program: 446 applications received

111 startups mentored

$1M awarded

Aug-Oct Accelerator

Oct. 21 Final Ceremony

•  27,000+ ft2 shared office space

•  330+ people in 111 startups

•  5,000+ hours of mentoring

•  300+ judges & mentors engaged

•  10+ new companies incorporated

Results

March 1, 2011 7 month survey •  $30M+ external funding

secured by startups

•  300+ jobs created by startups


2011 Entrant Metrics

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The number of participants in MassChallenge 2011 nearly doubled over MassChallenge 2010

Almost 65% increase in applications over 2010, And almost double the number of participants

Notes: All values self-reported based on “primary industry” and “current headquarters”. 8

2010 2011 # Startups


733 startups applied to enter MassChallenge 2011, representing 24 countries and 34 states

Almost 65% increase in entrants over 2010 Notes: Self-reported for “Primary Industry” and “Current Headquarters”. 9

89 international

147 Other USA

733 total


67% of 2011 applicants are headquartered in MA; industry breakdown varies significantly by location

Notes: Self-reported for “Primary Industry” and “Current Headquarters”. 10

733 MassChallenge applications by headquarters and industry


2011 Finalist Metrics

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The 125 MassChallenge finalists for 2011 represent 6 countries and 15 states, NY prominent


6 international

24 Other USA

125 total (95 from MA)


76% of 2011 finalists are headquartered in MA; industry breakdown varies significantly by location


125 MassChallenge finalists by headquarters and industry


MassChallenge Finalist startups are diverse on key metrics

14 Notes: All data self-reported via MassChallenge administered survey May 5, 2011.

42% with at least 1 female founder

41% with at least 1 minority founder

125 MassChallenge finalists by number of founders per category


2010 Metrics

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446 teams applied to enter MassChallenge, representing 26 countries and 24 states

446 startups = world’s largest Startup Competition Notes: All values self-reported based on “primary industry” and “current headquarters”.

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Expert judges selected 111 finalists to participate in the 3 month MassChallenge accelerator program

111 startups = world’s largest Startup Accelerator

17 Notes: All values self-reported based on “primary industry” and “current headquarters”.


Feedback from startups very positive – 2010 finalist satisfaction exceeds Apple customer enthusiasm

Notes: MassChallenge NPS calculated from data collected in Jan 2011 finalist survey Comparative NPS data from: http://www.netpromoter.com/np/compare.jsp

Net Promoter Score (NPS) US leaders (2010)

•  USAA 81%

•  Apple 78%

•  Amazon 71%

•  Trader Joe’s 68%

•  Wegman’s 67%

78.3%

"How likely would you be to recommend MassChallenge to a friend?"

(10 = most likely)

Net Promoter Score = % promoters - % detractors

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N=46


MassChallenge organized 250+ events in 2010, fostering connections and educating 5,000+ people

Events Organized by MassChallenge

in 2010

How satisfied are you with your current ACCESS to each of the following? (10 most satisfied)

19 Notes: Before data from April 2010 (N=86), after data from November 2010 (N=49)


2010 finalists indicate improved access to key resources, especially to peers and funding sources

20 Notes: Before data from April 2010 (N=86), after data from November 2010 (N=49)

+16% +22% +34% +32%

How satisfied are you with your current ACCESS to each of the following? (10 most satisfied)


2010 finalists credit MassChallenge with increasing their access, especially those that engaged actively

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To what extent has MassChallenge improved your access to key resources? (10 being very significantly)

Notes: Before data from April 2010 (N=65), after data from November 2010 (N=48)

~30% better improvement for

engaged teams

2011 06-30 mass challenge overview and metrics

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