how to be a standout masschallenge applicant

BOSTON | ISRAEL | MEXICO | SWITZERLAND | UK

HOW TO BE A STANDOUT MASSCHALLENGE

APPLICANTApplications due March 28, 2017!

Copyright © 2017 MassChallenge, Inc. All Rights Reserved. 2

WE BELIEVE ENTREPRENEURS CAN

CHANGE THE WORLD


IMPACT OVER EQUITY

MASSCHALLENGE SUPPORT AND FUNDING COMES WITH NO EQUITY TAKEN

• No-equity, not-for-profit• Impact across all

industries• 100% focus on helping

entrepreneurs win• $2M+ total cash awards


WHO CAN APPLY?

• Open to all• Anywhere in the world• Any industry• Early stage• At least one founder

engages in the program


TIMELINE: CYCLE 1Boston | Israel | Switzerland

JUDGINGAPRIL - MAY

APPLICATIONS MARCH 1 EARLY BIRD MARCH 28 REGULAR

Round 1: Short online applicationRound 2: In-person pitch

Written feedback & scoring for all applicants in both judging rounds.

ACCELERATORJUNE - OCTOBER


WHO ARE THE JUDGES

• ENTREPRENEURS• EXECUTIVES• INVESTORS• LAWYERS• SERVICE PROVIDERS

MassChallenge Judges overlap with the mentor pool and represent many industries and perspectives.


JUDGING CRITERIA

HIGH IMPACTWHY DOES YOUR STARTUP MATTER?

The judges make an overall recommendation, seeking startup with a high potential to make an impact.

HIGH POTENTIALWHAT ARE YOUR CHANCES?


IMPACT ON A SPECTRUMImpact is up to the entrepreneurs to define. Often, impact isn’t black and white.

IMPACTECONOMIC IMPACT• Revenue• Funding• Jobs• Market Creation• Industry Disruption

SOCIAL IMPACT• Solutions• Behavioral Change• Education/Research• Skill Transfer• People Helped


TIP #1: CHARACTER LIMITS

• SHORTHAND & BULLETS• STRATEGIC REPETITION• STARTUP PROFILE• SIMPLE CITATIONS

The 250 & 500 character limits are tricky – many entrepreneurs struggle to fit their answers.


TIP #2: BAD & LESS BAD ANSWERS

• SHOW PROGRESS TO DATE

• DEMONSTRATE NEXT STEPS

• PROVE ABILITY TO SOLVE PROBLEMS

No application is perfect. Great applications are honest and have a realistic view of the future.


TIP #3: COMPLICATED TECHNOLOGY

• FEEDBACK FROM LAYPERSON

• FEEDBACK FROM PEERS

• SHOW KEY PROOF• LEVERAGE

STARTUP PROFILE

Many of the startups have complicated products that will be difficult to describe within the character limits


TIP #4: HIGHEST-IMPACT QUESTIONS

1. Customer Pain & Solution

2. Overall Impact3. Customer Needs

& Acquisition

4. Industry & Competitors

5. Business Model6. Regulation & IP7. Founding Team,

Advisors & Investors

8. MassChallenge

The application is essentially an executive summary. Start with the three first questions.

THANK YOU

how to be a standout masschallenge applicant

Small Business & Entrepreneurship