BOSTON (CBS) – Hundreds of young entrepreneurs are about to move into Boston for a few months, as the latest MassChallenge takes flight.
MassChallenge bills itself as the largest-ever start-up accelerator, and the first to support high-impact, early-stage entrepreneurs with no strings attached.
WBZ NewsRadio 1030’s Anthony Silva reports
Finalist teams have just been announced. MassChallenge Founder and President Akhil Nigam says they were chosen after a long judging process. He says each of the 300 companies was reviewed by a panel of three to five judges. The top 125 now go through an intensive summer period.
Nigam tells WBZ NewsRadio’s Anthony Silva that he wants these companies to show the judges big, impactful ideas.
Next, these companies will work with MassChallenge for at least four months, in what the group calls its “accelerator” program. MassChallenge “surrounds” the companies, giving them all the resources they need to get to their next milestones. They get free office space on the waterfront, where all 125 companies will be located. MassChallenge also has 200-250 mentors available to work with the start-ups.
This year’s MassChallenge competition attracted more than 1,200 applicants.