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MassChallenge
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DRAFT
January 2010
MassChallenge 2012 UnTapped
#MCUnTapped
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
MassChallenge mission
To catalyze a
startup renaissance
2
MassChallenge is fostering innovative growth via a startup accelerator and competition
MassChallenge Startup Accelerator
Largest-ever startup accelerator and competition
and the first to support high-impact, early-stage
entrepreneurs with no strings attached
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
The startup accelerator connects innovators with supporters and resources throughout
Annual $1M Startup Accelerator and Competition
• Anyone can enter, from anywhere, with any startup
• Expert judges identify highest impact, most viable startups
• Everyone gets training and access to networks & resources
• Finalists are matched with mentors and free resources
• Highest impact, most viable startups win awards
• Sponsors, partners, alumni are integrated into all stages
3
Acceleratefinalists
Prepare MassChallenge
Accept applications& prepare entrants
Engage all participants and alumni
2 rounds of judging
Jan 2012
March 1
April 11
May 17
Prepare finalistsfor accelerator
Final Judging
Final ceremonyWeek of Oct 22
Oct 1
2012 Accelerator Dates
June 27
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
MassChallenge is largest-ever program of its kind and has demonstrated outstanding results
MassChallenge launch event with Governor Deval Patrick, Boston Mayor Thomas Menino, and passionate innovators.
• Largest-ever startup competition and accelerator• 733 applicant startups from 24 countries and 34 states• Over 600 different judges and mentors applied to participate
• Concierge-like support for 125 startups• Office space, mentorship, press/media support and much more• Satisfaction rates among finalists higher than for Apple customers
• President Obama honors MassChallenge for results• Identified as one of best programs in US for high-growth startups
• 2010 class: $100M+ raised & 500 jobs in 12 months4
5Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
MassChallenge has secured support from leaders in each area of innovation ecosystem
Universities
People Businesses &Foundations
Entrepreneurs Angels & VCs
Government
MassChallengeStartup 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
• 733 applications125 startups as finalists
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
Feedback from startups very positive – 2010 finalist satisfaction exceeds Apple customer enthusiasm
Notes: MassChallenge NPS calculated from data collected in Jan 2011 finalist surveyComparative 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
6
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
MassChallenge 2012 Launch
7
Attend the MassChallenge Launch!• Inviting a select number of sincere potential applicants launch event• Network with top VIPs• Send in your startup’s pitch – focus on IMPACT!!
Apply: http://bit.ly/LaunchMC
Copyright © 2012, MassChallenge, Inc. All Rights Reserved. 8
MassChallenge is designed to engage and benefit the entire ecosystem
Universities
People Businesses
Entrepreneurs Angels & VCs
Government
STARTUPCATALYST
How to get involved
Sign up at www.masschallenge.org for updates
Partner Sponsor
• Volunteer as judge, speaker or mentor
• Help manage and run events
• Multiple sponsorship levels are available
• MassChallenge is a 501(c)(3) nonprofit
Inform Enter 2012
• Spread word to potential entrants,
mentors, judges and sponsors
• 733 entrants in 2011
• Start vetting idea(s) and forming teams
Key opportunities
• Catalyze startup renaissance
• Promote jobs and growth
• Showcase leadership globally
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
FINALIST INDUSTRY SUMMARY
Altaeros Energies Energy Airborne wind energy
BIOARRAY Therapeutics Life Sciences Breast cancer diagnostics
Blank Label Consumer Affordable custom clothing
Diagnostics for All Life Sciences Low-cost medical diagnostic device
Her Campus Media Consumer #1 online magazine for college women
Localocracy High Tech Online Civic Engagement
Locately High Tech Mobile analytics platform
Novophage Life Sciences Industrial biofilm protection
OsComp Systems Energy Natural gas compression
OsmoPure Social Impact Water purification
Resolute Marine Energy Energy Wave-powered desalination
Sanergy Social Impact Sanitation center network
Seeding Labs Social Impact Empowering scientists in 3rd world
Sproxil Life Sciences Stopping counterfeit drugs
Therapeutic Systems Life Sciences Treatment of autism symptoms
Selected 2010 and 2011 Finalist Profiles
9
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
Altaeros Energies uses advanced airborne turbines to produce low cost renewable energy
Next Generation Of Wind Energy• Uses safe and reliable aerospace
technology to lift wind turbines into sky • At higher altitude, winds are much
stronger and more consistent• Offers easy mobility & rapid deployment
at remote, military, and offshore sites• Can lower cost of energy by up to 65%
relative diesel generators or renewable tech
Highlights• Team of recent MIT and Harvard graduates has raised several
hundred thousand dollars to test its technology
• Aerostat design could produce 2-5x as much power as pole-mounted, 350ft tall turbine in same location
• 2010 and 2011 MassChallenge Finalist
http://altaerosenergies.com/
10
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
BIOARRAY attacks breast cancer with a new generation of personalized diagnostic tests
Customized Detection and Therapy• Cutting-edge clinical diagnostics of
breast cancer
• Helps patients and their doctors identify more effective treatment options sooner
• Integrates multiple gene expression platforms and multiple biomarkers to produce an accurate, quantitative diagnostic result
Highlights• Founded by all-female team of experts in the field of biomarker
discovery and breast cancer research
• Core technology has been extensively verified in peer-reviewed academic literature
• 2011 MassChallenge Finalist
http://bioarray.us/
11
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
Blank Label revolutionizes the fashion industry with affordable mass customization
Pioneering Choice in Fashion• Empowering consumers by letting them
design their own dress shirts
• Variety of fabrics and collar, cuff, and pocket styles
• Under $100 per shirt
• Customers use sophisticated “configurator” software to design their own dress shirts
Highlights• Led by students out of Babson Summer Venture Program
• Featured in the New York Times, BusinessWeek, Stuff, MSNBC, Forbes, Fox News, Boston Globe, and more
• 2011 MassChallenge Finalist
http://www.blanklabel.com/
12
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
Diagnostic devices for 3rd world• Made of paper: simple and effective
• Light-weight, durable, and low-cost
• Requires minimal training, practically no sample preparation, and no electricity or additional equipment
• Easy to use and easy to read
• Reliable and Safe
• Single use, burn when done
Highlights• Enable better medical treatment in emerging markets
• Avoid unnecessary, harmful and expensive drug deployment by increasing availability of accurate diagnosis devices
• Medical care is foundation for stability and community
• 60% of developing world lives beyond reach of urban hospitals
Diagnostics for All saves lives via low-cost, easy-to-use, point-of-care diagnostic devices
13
High-quality diagnostic device
made of paper
http://dfa.org/
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
Her Campus Media reaches college women across the nation with content generated by students
A Collegiette’s Guide to Life• #1 online magazine for college women
with branches at 125+ colleges
• 9 million college women in USA with spending power of $300B+ per year
• Platform for rising student journalists
• Feeder for top jobs and internships
• HerCampus combines online and offline opportunities to attract and engage
Highlights• Founded by 3 female Harvard grads; named as Inc. Magazine's 30
Under 30 Coolest Young Entrepreneurs
• Highly charismatic and eloquent team with history of success
• 2011 MassChallenge Finalist
http://hercampus.com/
14
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
Localocracy is an online town common to connect residents with local media and govt
Online Civic Engagement• Gather data on the issues that matter
• Virtual voting, commenting, Q&A with• Confirmed Registered Voters• Real people using real names
• Make government more accessible
• Gather feedback quickly and efficiently• Understand how residents will react• Connect directly with constituents
Highlights: Promoting Civic Information and Action• Founded by 2010 UMass Amherst Grad – TEDx Boston speaker
• 2010 MassChallenge Finalist – has won multiple other prizes
• Secured Boston Globe as customer, closed seed round @ $150K
• 2010 and 2011 MassChallenge Finalist
Making government
more accessible
http://localocracy.org/
15
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
Locately’s technology makes sense of GPS data from opted-in mobile phones
Understanding where people go• 100% opt-in
• Consumers volunteer to share their GPS with Locately
• In return they get rewards: free cash, giftcards, or entry into prize draws
• Like web analytics for the real world
• Understanding where people shop• How they get to/from a given location• Which stores they drive past
Highlights• Founded by recent Harvard/MIT/Stanford grads
• Raised $300K in angel funds and closed key partnerships
• 2010 MassChallenge $100K winner
Pioneering the science of consumer location analytics.
http://locately.com
16
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
Novophage provides the biological solutions for industrial infrastructure problems
Protecting Against Biofilms• Developing strong anti-biofilm solution
• Biofilms are slimy communities of bacteria that contaminate heating/cooling systems, food-processing plants, hospitals, etc.
• Patent-pending technology utilizes a biological nanoparticle that uses biofilm bacteria’s own machinery to create active agents that act against the biofilm itself
http://www.novophage.com/
Highlights• Scientific founder is 2010 Harvard Med School grad & 2007 MIT
PhD; honored as a top young innovator by MIT Tech Review
• Extremely strong team, mix of young talent and experience
• Recently raise Series A financing for $5.75M
• 2010 MassChallenge Runner Up
17
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
OsComp reduces commercial and environmental costs with breakthrough compression technology
Highlights• Founded by 2010 MBA MIT Sloan School of Management• Closed $10M of orders w/in 18 months of founding; 10 full-time
employees (plus contractors), 95% of inputs and components are manufactured in US, recently raised $1.5M private investment
• 2010 MassChallenge $50K winner
www.oscomp-systems.com
Future of Natural Gas Production• Product will enhance the productivity of
natural gas wells and more
• Extend life of well by 15-20 years
• Delivers broad environmental benefits
• Eliminates nearly all well emissions
• 34%+ Higher efficiency = reduced CO2 emissions and reduction in capital costs
18
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
OsmoPure is a low-cost, highly-portable water purification device using simple membrane filtration
Highlights• Founder is 2009 grad of Rensselaer Polytechnic Institute; charismatic
engineer with clever, high-potential product
• Secured key partnerships
• 2010 MassChallenge $100K winner
http://osmopure.com
Clean Water in a Pinch• Easy to use
• Fill ordinary plastic bottle with water, screw on OsmoPure, squeeze bottle, and drink water
• Effectively removes all contaminants
• Durable, lightweight, does not clog• Inexpensive; less than $2 to produce, lasts 1
month under normal usage
19
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
Resolute Marine Energy will complete off-grid wave-driven desalination system by 2012
20
Wave-driven desalination• Superior design and execution
• Low capital and production cost• Off-grid operation using only
renewable resources• Scalable design using reverse osmosis
• Huge market with unmet needs
• Current diesel-driven systems inferior
• Already partnered with municipality in South Africa to launch pilot projects
Highlights• Triple bottom line: financial, social, environmental
• Generate large quantities of clean fresh water for water-stressed, off-grid coastal communities in developing nations where a solution is urgently needed
Energy from waves can generate clean water for coastal communities in
developing nations
http://resolutemarine.com/
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
Sanergy fights a public health crisis by turning it into an economic opportunity
Ending Sanitation-Linked Diseases• 2.6 billion people lack basic sanitation
• Created affordable sanitation centers
• Pioneering innovative business model
• Franchise network of sanitation centers across the slums to local entrepreneurs
• Collect the waste from each center and convert to electricity and fertilizer
Highlights• Diverse team of graduate and undergraduate students from MIT,
University of Nairobi, Tufts University, and University of Cambridge
• Winner of the 2011 MIT 100K Business Plan Contest and 2011 Echoing Green Fellowship
• 2011 MassChallenge Finalist
http://saner.gy/
21
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
Seeding Labs transforms scientific research at universities across the developing world
22
Talent is Everywhere• Affordable infrastructure
• Reclaim U.S. surplus lab equipment • Reduce waste• Affordably equip whole institutions
• World-class training
• Exchange programs with premiere universities and biotech/pharma
• A global network
• Scientists train, mentor and collaborate
Highlights• Tools and training for scientists in 16 countries already:
• 4000 students getting hands-on training
• 216% increase in research funding
• 60+ publications, 1 patent, 1 medical diagnostic
www.seedinglabs.org
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
Sproxil’s MPA™ solution helps consumers avoid being tricked into buying fake medication
23
Don’t get ripped off at the chemist• Win + Win + Win
• Consumers avoid harmful fake meds• Pharma companies increase sales• Only counterfeiters lose out
• Scalable
• Easy-to-use text message• Leverages explosive cell phone growth
• Accessible to all
• Free to consumer via ROI for pharma
Highlights• Tackles $200 billion market opportunity
• 700,000 people die worldwide due to fake TB & Malaria meds
• Pharma companies lose $200 B a year due to fake drug sales
• Sproxil closes $1.79m Series A and expands to India
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
Therapeutic Systems helps people with autism become more engaged in life
Medical Devices to Reduce Anxiety• Novel vest-like device inflates to apply
uniform, deep-pressure – like a hug
• Discreetly and effectively apply deep pressure to an individual anytime
• Demonstrated to reduce anxiety and enable greater engagement in life
• ~4M Americans with autism; 1 in 100 children diagnosed with autism
Highlights• Highly charismatic UMass Amherst grad, elegant, seemingly
simple solution and inspiring outcomes
• Compelling story: parent demand brought device out of lab, which had been developed for over 6 years at UMass Amherst
• 2011 MassChallenge Finalist
http://therapeuticsystems.com
24
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
2011 Entrant Metrics
25
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
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”. 26
0
200
400
600
800
Sector
General
Social Impact
Energy and
Clean Tech
Life Science/
Healthcare
High
tech
Headquarters
International
Other US
MA
Sector
Energy and
Clean Tech
Life Science/
Healthcare
Social
Impact
General
High
tech
Headquarters
NY
International
Other US
MA
446 Teams
NY
1,427 Participants
733 Teams
2,853 Participants
2010 2011# Startups
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
733 startups applied to enter MassChallenge 2011, representing 24 countries and 34 states
Almost 65% increase in entrants over 2010Notes: Self-reported for “Primary Industry” and “Current Headquarters”. 27
0
20
40
60
80
100%
International
Israel
Greece
Australia
India
Canada
Russia
Kenya
South Korea
Other
Thailand
UK
Finland
Headquarters
MA
Other US
International
Other US
IL
NJ
NH
NY
CA
FL
Other
TX
CT
RI
2011 MassChallenge applicants
89international
147Other USA
733total
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
67% of 2011 applicants are headquartered in MA;industry breakdown varies significantly by location
0
20
40
60
80
100%
MA
Social Impact
High Tech
General
Energy & Clean Tech
Life Science/Healthcare
Other US
General
High Tech
Social Impact
Life Science/
Healthcare
Energy & Clean
Tech
NY
General
High
Tech
Social
Impact
Int'l
Social
Impact
High
Tech
General
Notes: Self-reported for “Primary Industry” and “Current Headquarters”. 28
733 MassChallenge applications by headquarters and industry
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
2011 Finalist Metrics
29
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
The 125 MassChallenge finalists for 2011 represent 6 countries and 15 states, NY prominent
Notes: Self-reported for “Primary Industry” and “Current Headquarters”. 30
0
20
40
60
80
100%
International
South Korea
Portugal
Kenya
Israel
Canada
Headquarters
International
Other US
MA
Other US
MD
SC
NJ
WA
PA
IN
CO
CA
ME
FL
GA
RI
NH
NY
2011 MassChallenge Finalists
6international
24Other USA
125 total(95 from MA)
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
76% of 2011 finalists are headquartered in MA;industry breakdown varies significantly by location
0
20
40
60
80
100%
MA
General
Energy & Clean Tech
Life Science/Healthcare
Social Impact
High Tech
Other
US
High Tech
Energy &
Clean Tech
Social
Impact
General
NY
General
High
Tech
Social
Impact
General
High
Tech
Life Science/
Healthcare
Int'l
Notes: Self-reported for “Primary Industry” and “Current Headquarters”. 31
125 MassChallenge finalists by headquarters and industry
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
MassChallenge Finalist startups are diverse on key metrics
0
25
50
75
100
125
# Female Founders
No data
2
1
0
125
# Minority Founders
No data
2
1
0
125
4
3
5
32Notes: 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
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
2010 Metrics
33
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
446 teams applied to enter MassChallenge, representing 26 countries and 24 states
446 startups = world’s largest Startup Competition
0
20
40
60
80
100%
Sector
General
Social
Impact
Energy and
Clean Tech
Life Science/
Healthcare
High tech
Headquarters
International
Other US
Other NE
MA
Gender
Female
Male
2010 MassChallenge applicants
446 Teams 1,427 Participants
Notes: All values self-reported based on “primary industry” and “current headquarters”. 34
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
Expert judges selected 111 finalists to participate in the 3 month MassChallenge accelerator program
111 startups = world’s largest Startup Accelerator
0
20
40
60
80
100%
Sector
Life Science/
Healthcare
High tech
Energy and
Clean Tech
General
Social
Impact
Headquarters
Other NE
MA
Other US
Gender
Male
Female
2010 MassChallenge applicants
111 Startups
International
330 Participants
35Notes: All values self-reported based on “primary industry” and “current headquarters”.
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
Feedback from startups very positive – 2010 finalist satisfaction exceeds Apple customer enthusiasm
Notes: MassChallenge NPS calculated from data collected in Jan 2011 finalist surveyComparative 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%
0
20
40
60
80
100%
Finalists
Neutral
(7-8 )
Promoters
(9-10 )
Detractors
(0-6 )
78.3%
"How likely would you be to recommend MassChallenge to a friend?"
(10 = most likely)
Net Promoter Score = % promoters - % detractors
36
N=46
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
MassChallenge organized 250+ events in 2010, fostering connections and educating 5,000+ people
0
20
40
60
80
100%
Info
sessions
Office
hours
Training
255 5,085
0
2
4
6
8
10
Befo
re
Aft
er
Events Organized by MassChallenge
in 2010
How satisfied are you with your current ACCESS to each of the following? (10 most satisfied)
37
Notes: Before data from April 2010 (N=86),after data from November 2010 (N=49)
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
2010 finalists indicate improved access to key resources, especially to peers and funding sources
0
2
4
6
8
10
Be
fore
Aft
er
38
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)
Copyright © 2012, MassChallenge, Inc. All Rights Reserved.
2010 finalists credit MassChallenge with increasing their access, especially those that engaged actively
39
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)
0
2
4
6
8
10
Did not engage
actively in
accelerator
6.4
All finalists
7.4
Engaged actively in
accelerator
8.2
~30% better improvement for engaged
teams