This Week in Startups E1054: The Power of Accelerators E3 Siobhan Dullea, CEO of MassChallenge on running a non-profit accelerator, accepting hundreds of companies per year, what makes a great application, why East Coast investors are more conservative & more!
May 6, 2020
Siobhan Dullea, CEO of MassChallenge, leads a nonprofit accelerator that uniquely supports startups without taking equity. She discusses the acceptance of hundreds of companies annually and what makes an application stand out. Dullea explains the intricacies of prize distribution and the sustainability of a nonprofit model in nurturing innovation. Furthermore, she shares insights on investor attitudes, particularly why East Coast investors favor intellectual property, and reflects on the transformation of accelerators in a post-COVID world.
AI Snips
Chapters
Transcript
Episode notes
MassChallenge's Unique Model
- MassChallenge is a non-profit accelerator network supporting startups without taking equity.
- They focus on impact, connecting startups with a global network of experts and resources.
Global Reach and Scale
- MassChallenge runs nine programs across seven locations, accepting early-stage startups from around the world.
- Their largest cohort is in Boston, accepting 100 startups out of 1000 applications.
Prize Money Allocation
- MassChallenge's $1 million prize money is awarded in Boston. They allocate $2 million globally.