MassChallenge, the world’s largest start-up accelerator, is looking for Swiss start-ups

MassChallenge is a four-month start-up accelerator that supports high-impact, early-stage entrepreneurial projects with no strings attached. More than $1 million in cash is available to winning start-ups, and additional benefits include world-class mentorship and training, free office space, access to funding, legal advice, media attention and more than $10 million of in-kind support. MassChallenge is a non-profit organisation and does not take equity or place any restrictions on participating start-ups. Applications for 2014 are open to 2 April.

The Boston-based accelerator is open to start-ups from all sectors and from all parts of the world that want to achieve global market leadership. The start-ups should be young with less than $500,000 raised. “We want to support start-ups that are not already supported by VCs,” said Amir Eldad at an event at the US Embassy in Bern, where the accelerator was presented to Swiss journalists.

Eldad is responsible for international expansion at MassChallenge, as the organisation goes global. Two hubs have already been founded outside the US – in London and Israel – and the competition is trying to attract start-ups from all over the world.

Last year, the accelerator selected one Swiss start-up – Flatev, which provides a new solution for making a wide variety of fresh tortillas and other flatbreads in only seconds. After being accepted into MassChallenge, the Flatev crew set up a US office in Boston’s Seaport District, where now three employees work. Flatev CEO Carlos Ruiz also attended the presentation in Bern, and he emphasised the considerable benefits that Flatev has derived from the coaching and access to a remarkable network. He also remarked on the very efficient application process.

Flatev isn’t the only connection between MassChallenge and Switzerland. The organisation also works with swissnex Boston and the School of Management Fribourg; Rico Baldegger, Professor of Management and Entrepreneurship at Fribourg, said at the event that his vision is to build up a MassChallenge hub for the alpine rim in Switzerland.

Switzerland might be a good location for such a hub: not only does it have interesting start-ups, but the economic ties between the US and Switzerland are close. The US is Switzerland’s second largest export market and Switzerland is one of the top 10 foreign investors in the US. This was the reason behind the US Embassy’s support of the MassChallenge event and its interest in Swiss start-up participation. Scott E. Woodard, Economic Officer at the embassy, said: “Our hope is that MassChallenge start-ups become successful and then invest in the US.”

MassChallenge 2014
The 2014 MassChallenge accelerator runs from June to October, and provides 128 start-ups with mentorship, office space, access to funding and other benefits. MassChallenge will award $1.5 million in grants to winning entrepreneurs at the 2014 MassChallenge Awards Ceremony, comprising $1 million in accelerator awards and $500,000 in sidecar prizes. Entrepreneurs interested in joining the 2014 MassChallenge programme have until 2 April to apply: http://masschallenge.org/apply.