MassChallenge planning an accelerator programme in Switzerland

MassChallenge is a four-month start-up accelerator that supports high-impact, early-stage entrepreneurial projects. Several features make MassChallenge special: the programme is truly global; this year more than 2,200 start-ups from all over the world applied. In addition, MassChallenge does not take equity or place any restrictions on participating start-ups, and the programme is open to start-ups from all sectors.

However, only the very best start-ups are accepted. “Last year we accepted 7% of applications,” says Amir Eldad, Director of Global Partnerships at MassChallenge. The accelerator is looking for start-ups that want to achieve global market leadership; each start-up is judged in the first round of selection by three judges – only the best are chosen.

MassChallenge launched in Boston in 2010 and since then more than 600 companies have been supported. In February it launched a new UK programme in London, which will replicate the successful model from Boston. With programmes now in Boston, Israel and the UK, MassChallenge will continue to expand to 10 locations over the next five years. One of these locations could be Switzerland: Eldad has already found a partner that will help to investigate in this plan – Swiss technology group Bühler.

Bühler, a technology group that invests up to 5% of its sales revenue in research and development, contacted MassChallenge in connection with its yearly  innovation competition for Bühler employees. The so called Bühler Innovation Challenge 2014 was a huge success: 200 ideas were registered and more than 2,000 employees took part by means of a vote for one of the ideas. The competition has developed a dynamic in the company and in order to keep up the momentum, it is important to implement the best ideas as quickly as possible. And that’s where MassChallenge comes in: “We are good at generating ideas, but we can improve when it comes to speed of implementation,” says Bühler CTO Ian Roberts.

Thus, Bühler made the decision to become a MassChallenge partner and one of the four finalists of the Bühler competition took part in the MassChallenge judging in Boston – the first internal start-up to be considered for the programme.

Bühler has also become a Diamond Sponsor of the accelerator programme in Boston. “We are now seeing new technologies that could be of interest to us at an early stage,” says Roberts. “And also interesting social entrepreneurship projects that may, for example, affect the food market, which plays a big role in our business.”

At the moment, Roberts and Eldad are investigating the next step of the collaboration: a MassChallenge location in Switzerland. The Swiss programme, as in the other locations, would be cross-border and aims to attract new companies from other countries. “We do not force start-ups to go to a specific location; a start-up from Austria, for example, can apply to Boston, London or any other new MassChallenge location,” explains Eldad. Thus, they are currently looking for more supporters from neighbouring regions as well as from Switzerland.

High quality accelerator programmes already exist in Switzerland and Eldad explains that collaboration with other providers is possible, particularly if they are available in other locations. “It could be a loose partnership that could be activated immediately, or a tighter relationship that requires more design and planning,” he says. However, he makes clear that partnerships require a mutual benefit, so a solo effort appears to be possible too.

About MassChallenge
MassChallenge runs accelerator programmes designed to catalyse a global renaissance by connecting high-impact start-ups with the resources they need to launch and succeed. Anyone can apply to MassChallenge with any early-stage start-up, in any industry, from anywhere in the world. MassChallenge does not take equity or place any restrictions on the start-ups it supports.

With programmes in Boston, Israel and the UK, MassChallenge provides entrepreneurs with mentorship, office space, education, access to a vast network and other resources during four months of acceleration. MassChallenge awards more than $2 million in non-dilutive grants to those start-ups that demonstrate the highest impact and highest potential. A non-profit organisation, MassChallenge is funded by corporate, public and foundation partners. To date, 617 MassChallenge alumni have raised more than $706 million in funding, generated $404 million in revenue and created 4,800 jobs

About Bühler
Every day, billions of people come into contact with Bühler technologies to cover their basic needs for food, mobility and communication. Bühler flour mills process about 65% of the wheat harvested worldwide, and its contribution to rice processing, pasta production, chocolate and breakfast cereals is similarly important. Bühler is also a leading solution provider of die casting, wet grinding and surface coating technologies, with an emphasis on automotive, optics, electronics, printing and packaging inks, and glass applications. As a leading technology group, Bühler invests up to 5% of its sales revenue in research and development. It has 10,600 employees in some 140 countries and generates annual sales of CHF2.3 billion. The family-owned company is proud of its Swiss roots and is committed to sustainability.