MassChallenge, in collaboration with PKO Bank Polski and Foundation for Technology Entrepreneurship, on September 1st opened submissions for the first ever Bridge to MassChallenge Warsaw program.
MassChallenge is one of the largest startup accelerators in the world operating in the United States, United Kingdom, Switzerland, Mexico and Israel. The program is dedicated to ready-to-go-global startups from Central and Eastern Europe.
The program for mature startups
The program is dedicated to startups that are already somewhat established in the market: their products have been validated, they have market traction, and are ready to scale up their business. The only limits for participants are upper-limit thresholds – annual revenues not exceeding $ 2 million and equity based funding of not more than $ 1 million.
Global accelerator with support from global business
MassChallenge is one of the world’s largest accelerator programs, with a rich history of helping startups achieve dynamics and growth. Over the seven years of its existence, 1 211 startups, that have gone through the intensive accelerator program, have raised over $ 2 billion in funding, generated revenue of $ 900 million, and created over 65,000 jobs. Worldwide MassChallenge cooperates with major local and global companies such as IBM, P&G, and Microsoft. Because of this, it can offer startups solid support in the form of experienced mentors who introduce startups to the global business world.
– At Microsoft, we are constantly looking for startups with innovative solutions to partner with. The MassChallenge model leverages key strengths and expertise from the partners’ community to deliver value to all stakeholders in the ecosystem. When MassChallenge enters new markets, it creates a great opportunity for Microsoft and other corporate partners to get to know new ideas and to look more carefully into new businesses. We are looking forward to the impact of MassChallenge’s expansion in the CEE region. – says Cathy Wissink, director of Technology & Civic Innovation at Microsoft.
Acceleration process
Recruitment to the Bridge to MassChallenge Warsaw program will begin on September the 1st and will last until October the 6th. The organizers are aiming to attract applications from 200 interesting startups from the CEE region, out of which 25 will be selected. They will take part in a 4-day bootcamp in Warsaw. During the workshops, with support from top mentors from i.a. U.S. and Israel, participants will face challenges related to moving from early-stage startup to scale-up phase and verifying effectiveness of resources, that are indispensable in scaling a business. The top 10 finalists will fly to Boston in February to participate in 4-days of workshops and meetings. In the U.S., entrepreneurs from Central and Eastern Europe will have a chance to participate in a series of meetings with representatives of global companies, world-class mentors, and business partners in order to verify their growth plans in practice.
In Central and Eastern Europe MassChallenge has partnered with PKO Bank Polski – the largest bank in the region, and Foundation for Technology Entrepreneurship – the operator of MIT Enterprise Forum Poland. Additionally, program has teamed up with Impact CEE, allowing the participants to present their businesses during a Fintech’17 startup conference in December, in Katowice.
Bridge to MassChallenge Warsaw is supported also by a number of community partners from local startup ecosystems across CEE, including BnL Start Partners Inkubátorház.
Those interested in the recruitment process and an international career will find the details of the program at MassChallenge’s and Foundation’s websites:
http://b2mcwarsaw.fpt.org.pl.