Now Accepting Applications: That’s the message from MassChallenge, the Boston-based accelerator that officially launched its Texas program on Monday.
At an event at the Bullock Texas State History Museum, MassChallenge celebrated its new presence in Austin and put out a call for startups across Texas to apply.
MassChallenge announced last month that it chose Austin for its second U.S. site, and plans to accept up to 100 startups in its first program.
The nonprofit organization is looking for early stage companies in any industry, including high tech, health care, clean energy and social impact.
MassChallenge Texas is targeting startups across the state for the accelerator, which will operate out of co-working space provider WeWork in downtown Austin.
“We have a wonderful opportunity in Texas to take this great ecosystem and make it more effective by bringing together universities, corporations, venture capitalists, angels and other entrepreneurs,” said Mike Millard, managing director of MassChallenge Texas.
Companies accepted into the program will participate in a three-month accelerator that includes access to mentoring, fellow entrepreneurs and investors, training and networking events, and free office space.
The program will begin on March 1, and will conclude with companies competing for up to $500,000 in equity-free cash awards.
To apply, candidates must be seed stage or early stage, which is defined as having raised less than $500,000 and having annual revenue of less than $1 million.
MassChallenge Texas is supported by a public-private partnership that includes founding corporate partners Southwest Airlines, USAA and Upstream Thinking.
In addition to Boston, MassChallenge offers programs in London, Israel, Switzerland and Mexico. To date, 1,200 MassChallenge alumni have raised more than $2 billion in funding, generated about $900 million in revenue and created more than 65,000 jobs.
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