8 ms·

Enter the MassChallenge competition

45 points by vineet 16y ago

jayzee 16y ago
We don’t think it’s fair to take equity from early-stage startups. Our goal is to help the world’s most promising entrepreneurs win, not to profit off their hard work. Period. What? Phrasing is very naive. Everybody wants something. They want people to help the world’s most promising entrepreneurs win in Boston. Taking money adds constraints. Insisting on a move to Boston adds constraints.
- AndrewGCook 16y ago
  Your point is very true. They hope to stimulate innovation in Boston through the competition, but the main goal is to stimulate innovation nationwide. One of the winning teams last year, RelayRides, recently opened a second location in California, so you're not limited to Boston. There really is no strings attached to the money if you win. You could go to Vegas and put it all on black if you wanted (although the judges would probably sense that was the plan you wouldn't make it through). P.S. I was on a winning MassChallenge team last year (Rentabilities)
  - deleted 16y ago
    [deleted]
    - PMHacker 16y ago
      You can get through even with 0 votes from general public and 0 endorsements BUT if you cannot sell you idea to people to make them vote for it on the web site chances are that you would not be able to sell it for money, think about entry form as kind of MVP for your startup.
      - jayzee 16y ago
        That does not fly for several reasons. Some ideas can be highly technical. Or have a niche market like control systems for nuclear reactors. Or can buck conventional thinking Copernicus would have a tough time getting those votes for example. I think that the reason they are doing it is to drive traffic and publicity to their cause. In the video they mention again and again how many twitter followers they have etc. Look, I don't want to be too critical. This is fantastic and kudos to them for doing a great job. It is just this one thing that seems silly other than that it sounds fantastic.
        JohnHarthorne 16y ago
        Even technical/niche startups should be able to find 5 friends who will visit and vote for them. Last year we had finalists working on airborne wind turbines (altaeros energies) and on desalination systems powered entirely by renewable energy (Resolute Marine Energies) and many other technical/niche plays. The public doesn't need to understand the depths of the technology to decide if it's a good idea or if it's well expressed. Regarding driving traffic - sure, there is at least a minor "viral" impact from the system. Keep in mind, MassChallenge is a community. Driving traffic to our website helps the whole community, i.e. there are spillover benefits for other startups when one startup convinces their supporters to visit and browse the site. There's no profit at the center of the system -- so this isn't a selfish motive -- it's designed to benefit everyone. We are still a relatively young startup ourselves and continue to refine our approach ... so there is definitely room for improvement in areas. On balance, though, we are confident that our processes work. We'll continue to refine and definitely appreciate the feedback.
- vineet 16y ago
  MassChallenge does not require you moving to Boston - only for certain parts of the competition. They believe that if they can connect you to the right network (in Boston) you will want to stay.
  - jayzee 16y ago
    Oh. Sorry for not getting that. I read the website and saw the video and it talked about job creation in Boston so I thought that there were those conditions. My bad.
  - kbuttner 16y ago
    Nobody is required to move. To get value out of the program, we expect at least one founder to spend significant time in the accelerator during the summer. We aim to make it as frictionless as possible for startups to enter and win.
- dshah 16y ago
  They're not suggesting that it is free, just that it doesn't have the "usual" strings attached. To get cash, office space and a network without giving up any equity is a relatively remarkable thing.
  - DesmondPieri 16y ago
    I was with one of last year's winners, RelayRides, and believe me there were no strings attached. Our founder decided to move the company to San Francisco and he was able to do that. Being part of MassChallenge was a HUGE win for us. It very much helped us raise the $4.5 million we got from top tier VCs on the west coast.
- bmelton 16y ago
  Adding constraints is not the same as profiting off of your work. The two concepts are not joined. Being in Boston doesn't do anything for them directly. Their indirect hope is that it will compel you to fall in love with the city, and perhaps increase the local economy there, but they don't get anything out of that, and it isn't a requirement.
lux 16y ago
I see there's a $199 entry fee. In the music industry there's some controversy over pay-for-opportunity style services (Sonicbids for example, although they say they're phasing that out). For a business this isn't a huge amount, but it's enough to make me stop and think. Maybe there's a better use of my money when I'm bootstrapping already. I guess it helps eliminate those who don't think they have a chance... How do others here feel about it?
- PMHacker 16y ago
  With endorsements entry fee can be waved, we paid nothing to enter last year because of endorsements. If you think you have a good idea write to me at ib [at] taskpoint.com and I will give you diamond endorsements 8 points and $50 off application fee.
  - nikcub 16y ago
    this all sounds ridiculously convoluted
    - JohnHarthorne 16y ago
      It should be easier. Agreed. We have not yet mastered the operations side of MassChallenge (and I lose significant sleep over it). But it really isn't that hard, and there is explicit logic in every step. If you are even remotely serious as an entrepreneur, you should be able to get 4 diamond endorsements with a handful of emails/phone calls - each of them with an expert in your industry who has an opportunity to publicly support you without spending a dime. That process encourages startups to network/pitch and is intended to create or strengthen bonds with helpful resources. These resources are not isolated to MA by the way. Likewise, if you are even remotely serious about your startup, you should be able to get your friends/network to rate your company profile 5 stars very easily. This encourages you to promote your startup and seek support from your community. Easy stuff. No cost. Something you should be doing anyway. Keep in mind, the endorsements and team ratings are worth only 10% of the judging score each. We had teams enter and win last year with zero endorsement points and zero ratings. (I don't recommend that as a strategy, but it's possible). The application form itself is very basic: 10 questions, with short character limits. All standard stuff.
pauldisneyiv 16y ago
After viewing the MassChallenge site and perusing the complex application process, I am reminded why I'm not excited about applying anywhere outside of Y Combinator. I don't care about the money I care about the experience. Will I learn anything from these people? From the other startups that are accepted? Outside some seed money, what is the upside? *EDIT My initial thoughts may have been harsh - and perhaps I'm being a hipster - but I don't get the feeling that this is something truly special/cool. I believe there are talented business people involved, but for me it doesn't appear to be a life-changing event as much as a cash prize. That being said there is obviously a lot of support from those involved - they represent the bulk of the dialog here.
- PMHacker 16y ago
  I would say you will get probably the best line up of mentors you can get on the East Coast. We were one of the finalists last year (TaskPoint) and I cannot overestimate experience and publicity we got out of it
- vineet 16y ago
  The application process is designed to make you do things that you need to do anyway, i.e. having an executive summary, networking, etc. We (Architexa) were finalists last year and did not find the application process complicated. As for the experience: I found it really helpful. Especially talking to the other startups and working with them day-in day-out. We did not apply for the office space, but it definitely was very useful working right next to the the other teams. Beyond the above, the MassChallenge team works very hard in connecting the startups to the right people in the industry - we got great feedback and made progress because of that.
- DesmondPieri 16y ago
  You'll learn a lot. The mentors are top notch. Upside is being part of the great MassChallenge eco system for a year (it's that long if you are a winner.) I was with one of last year's winners, RelayRides. It was all upside. And winning this helped us raise our $4.5 million Series A.
  - 16y ago
fvds 16y ago
Don't worry about the registration fee. It serves to eliminate people who are not serious about participating/developing their startup plans. You should register (with $199), and if you are serious about your plans you'll have many, many opportunities to get your full $199 back from MassChallenge. They make it easy to get reimbursed (e.g. give an informal pitch in one of the early pitch practice sessions, etc.). Last year we got our registration fee back very quickly (we could have gotten back even several times that). Olivier Boss, Energesis Pharmaceuticals (a MassChallenge 2010 award winner)
- rhizome 16y ago
  It's still creepy.
  - JohnHarthorne 16y ago
    Is it as creepy as taking 6% equity from a company that is still young and strategically weak? To me that is molestation.
    - pg 16y ago
      I wouldn't be surprised to see this sort of comment from a random troll on HN, but I'm surprised to see it from one of the organizers of the program. It suggests that as well as having rather bad judgment, you don't understand the math of equity. A "free" alternative is no bargain if you end up net worse off. http://paulgraham.com/equity.html http://paulgraham.com/equity.html
      - JohnHarthorne 16y ago
        But if we offer a free alternative with equivalent benefits, then 6% is way overpriced. And that's what we do. Paul omits a discussion of opportunity cost. Sure, buying a coke for 50 cents is great ... but getting it for free is much better. Remember that at 6.4% improvement, you end up even with ycombinator. At 6.4% improvement with MassChallenge, you end up 6.4% ahead.
jayzee 16y ago
I have a few questions and their website is spare on details: 1. What is the typical size of the check? I paused the video (http://www.masschallenge.org/ http://www.masschallenge.org/) at the end to note that most checks were $50k and one was $100k. Are there smaller/larger amounts? 2. Getting votes and endorsements: They want startups to get votes from general people to improve their chances of getting selected. This is a bad idea. It is crowd-sourcing herd mentality. I think that is a waste of time for the startup. I saw a post (http://www.masschallenge.org/blog/how-make-it-masschallenge-... http://www.masschallenge.org/blog/how-make-it-masschallenge-...) about the things a company did to get those points and I would rather spend that time on the business. So if we get a 0 on each of those is there a chance that we will get through? Thanks. I think that what they are doing is fantastic barring [2].
- DesmondPieri 16y ago
  Last year a dozen firms won $50k and 4 firms won $100k.
- grandschema 16y ago
  re: 1. from the picture it looks like about 4 ft x 1.5 ft
- drewvolpe 16y ago
  I was in last year's class. I don't believe the endorsement points matter that much in the application. I spent almost no time on them and we got in. I think they're really more of an excuse to engage with people you otherwise wouldn't. If you have a good idea and traction, you'll get in with 0 points.
SueFarina 16y ago
I'm participating as an entrant this year and think it's a fantastic program for start-ups! Great to see it in Massachusetts, too.
jaredstenquist 16y ago
I'm a founder of a (now) VC backed Boston startup who participated in MassChallenge. My team though it would be worth the time to pitch and get some no-strings cash in the bank. Even paying for our $5k/month office would have been awesome. We made it to the first round (got enough votes online and whatnot). The tough part is you can get stuck with judges completely out of your industry that are clueless. Our judges were 2 lawyers and someone with a similar idea to ours ten years ago who thought his was superior. We didn't make it to the second round. I hope this year they make some changes based on everyone's feedback. A couple friends of mine won $50K from this competition. Important to note that it's not $1M awarded to one person/team, it's split however the judges/board like.
- WarPaul 16y ago
  As a semi-finalist last year, I too had a similar experience with the judging, however after getting feedback from those that completed the surveys, MassChallenge hired software entrepreneur Karl Buttner, who also served as a mentor last year, as Chief Mentorship Officer. He's helping to combat cases like ours, and improve the judging/mentorship experience. I think he's even somewhere on this comment thread...
contextref 16y ago
It's one of many opportunities around Boston, but compared to TechStars and others who "graduate" a dozen or two at most, this program actively accelerates 100+ companies who get to that phase. I've applied and am looking forward to the great learning and networking experience.
DesmondPieri 16y ago
I have endorsed two companies each of which I've worked with for over a year as part of the Boston University Kindle Mentoring program. One of the founders told me this morning that -- in his "networking" to get more endorsements -- he's met some "movers and shakers" in Boston who will be a big help for his business. This is exactly the intended result when the MassChallenge Team added the "endorsement" step to the process. If nothing else, MassChallenge is well thought out. And last year it was well executed by a hoard of people volunteering their time and energy.
Jiminez 16y ago
Mass Challenge? Is that like some kinda "Guess the Weight" competition?
- DesmondPieri 16y ago
  "Mass" as in "Massachusetts."
- WarPaul 16y ago
  Also "Mass" as in "the world's largest" (play on words I guess). Funny though, maybe someone should start a LeanChallenge based on Eric Ries' methodology.
rosenjon 16y ago
I think that these two programs offer starkly different things. A focus on the money alone is very short sighted. ycombinator has established itself as the "Harvard" of tech startup incubators. MassChallenge is... well... MassChallenge. As an analogy, when I was deciding between business schools, I had the opportunity to take a scholarship to a lesser MBA program. Or I could pay full price and go to a much higher ranked program. The difference was minimum $50-60k of my own money. I chose to go to the higher ranked program, because of the network that I would be able to build and the long term reputation that came with attending that program. Part of me wishes this wasn't the case; that one's success in life is purely based on their talents and how far they are able to propel themselves on their own steam, regardless of their affiliation with universities or other organizations. Unfortunately, that's not the real world. People care about which organizations you are affiliated with, regardless of whether the education at one is truly better than another. In truth, if you're motivated, you can probably get an equally good education at a community college as you can at an Ivy League school. However, the network you build at these different institutions is vastly different, and I would argue can't be replicated between the two. ycombinator has a track record of producing successful tech startups. This leads to high demand, and the ability to set its own terms. Likening that to "molestation" is not only insulting to the program, but also to all the people who applied to the program (like me). It implies that we don't know what we're doing, and that we are suckers for giving away equity to Y Combinator. I would counter that, contrary to this assertion, I am fully aware of the equity stake that is taken, and believe that it is worth having the Y Combinator organization on my side, as well as the cache with future investors that comes from having participated in the program. I will admit that this decision was not taken lightly, however, and I talked with many founders and funders in the startup world before deciding to apply.
bostonstarup 16y ago
Everyone should breathe for a moment. According to the Angel Capital Association, 60% of their members charge ~$400 to pitch. Also, no one complains about the $18,000 for 3 minutes at Demo. That's a pretty hefty fee, but many get value out of that event. The entrepreneur HAS to be the one to make that value judgement for themselves. The MassChallenge team and others like them are providing a great service and it's up to the entrepreneur to figure out if their making the right decision, not some self appointed guru. I have a hard time understanding those self appointed guru's who claim to have the interest of the poor struggling entrepreneur at heart. Entrepreneur's are a pretty tough lot. If an entrepreneur can't make the right decision about who they should work with, they will likely fail anyway. After all, being a CEO is about making the right decisions. If you can't do that, it's better to find out early.
Nikkki 16y ago
In general, I think the more incubators, the better it is for the whole start-up eco-system. Talk is cheap. Thus, there is no need to quarrel online. Let the success of MassChallenge and Y-Combinator start-ups speak for themselves which program is the best.

45 points by vineet 16y ago

We don’t think it’s fair to take equity from early-stage startups. Our goal is to help the world’s most promising entrepreneurs win, not to profit off their hard work. Period. What? Phrasing is very naive. Everybody wants something. They want people to help the world’s most promising entrepreneurs win in Boston. Taking money adds constraints. Insisting on a move to Boston adds constraints.

AndrewGCook 16y ago
Your point is very true. They hope to stimulate innovation in Boston through the competition, but the main goal is to stimulate innovation nationwide. One of the winning teams last year, RelayRides, recently opened a second location in California, so you're not limited to Boston. There really is no strings attached to the money if you win. You could go to Vegas and put it all on black if you wanted (although the judges would probably sense that was the plan you wouldn't make it through). P.S. I was on a winning MassChallenge team last year (Rentabilities)
- deleted 16y ago
  [deleted]
  - PMHacker 16y ago
    You can get through even with 0 votes from general public and 0 endorsements BUT if you cannot sell you idea to people to make them vote for it on the web site chances are that you would not be able to sell it for money, think about entry form as kind of MVP for your startup.
    - jayzee 16y ago
      That does not fly for several reasons. Some ideas can be highly technical. Or have a niche market like control systems for nuclear reactors. Or can buck conventional thinking Copernicus would have a tough time getting those votes for example. I think that the reason they are doing it is to drive traffic and publicity to their cause. In the video they mention again and again how many twitter followers they have etc. Look, I don't want to be too critical. This is fantastic and kudos to them for doing a great job. It is just this one thing that seems silly other than that it sounds fantastic.
      - JohnHarthorne 16y ago
        Even technical/niche startups should be able to find 5 friends who will visit and vote for them. Last year we had finalists working on airborne wind turbines (altaeros energies) and on desalination systems powered entirely by renewable energy (Resolute Marine Energies) and many other technical/niche plays. The public doesn't need to understand the depths of the technology to decide if it's a good idea or if it's well expressed. Regarding driving traffic - sure, there is at least a minor "viral" impact from the system. Keep in mind, MassChallenge is a community. Driving traffic to our website helps the whole community, i.e. there are spillover benefits for other startups when one startup convinces their supporters to visit and browse the site. There's no profit at the center of the system -- so this isn't a selfish motive -- it's designed to benefit everyone. We are still a relatively young startup ourselves and continue to refine our approach ... so there is definitely room for improvement in areas. On balance, though, we are confident that our processes work. We'll continue to refine and definitely appreciate the feedback.
vineet 16y ago
MassChallenge does not require you moving to Boston - only for certain parts of the competition. They believe that if they can connect you to the right network (in Boston) you will want to stay.
- jayzee 16y ago
  Oh. Sorry for not getting that. I read the website and saw the video and it talked about job creation in Boston so I thought that there were those conditions. My bad.
- kbuttner 16y ago
  Nobody is required to move. To get value out of the program, we expect at least one founder to spend significant time in the accelerator during the summer. We aim to make it as frictionless as possible for startups to enter and win.
dshah 16y ago
They're not suggesting that it is free, just that it doesn't have the "usual" strings attached. To get cash, office space and a network without giving up any equity is a relatively remarkable thing.
- DesmondPieri 16y ago
  I was with one of last year's winners, RelayRides, and believe me there were no strings attached. Our founder decided to move the company to San Francisco and he was able to do that. Being part of MassChallenge was a HUGE win for us. It very much helped us raise the $4.5 million we got from top tier VCs on the west coast.
bmelton 16y ago
Adding constraints is not the same as profiting off of your work. The two concepts are not joined. Being in Boston doesn't do anything for them directly. Their indirect hope is that it will compel you to fall in love with the city, and perhaps increase the local economy there, but they don't get anything out of that, and it isn't a requirement.

lux 16y ago

I see there's a $199 entry fee. In the music industry there's some controversy over pay-for-opportunity style services (Sonicbids for example, although they say they're phasing that out). For a business this isn't a huge amount, but it's enough to make me stop and think. Maybe there's a better use of my money when I'm bootstrapping already. I guess it helps eliminate those who don't think they have a chance... How do others here feel about it?

PMHacker 16y ago
With endorsements entry fee can be waved, we paid nothing to enter last year because of endorsements. If you think you have a good idea write to me at ib [at] taskpoint.com and I will give you diamond endorsements 8 points and $50 off application fee.
- nikcub 16y ago
  this all sounds ridiculously convoluted
  - JohnHarthorne 16y ago
    It should be easier. Agreed. We have not yet mastered the operations side of MassChallenge (and I lose significant sleep over it). But it really isn't that hard, and there is explicit logic in every step. If you are even remotely serious as an entrepreneur, you should be able to get 4 diamond endorsements with a handful of emails/phone calls - each of them with an expert in your industry who has an opportunity to publicly support you without spending a dime. That process encourages startups to network/pitch and is intended to create or strengthen bonds with helpful resources. These resources are not isolated to MA by the way. Likewise, if you are even remotely serious about your startup, you should be able to get your friends/network to rate your company profile 5 stars very easily. This encourages you to promote your startup and seek support from your community. Easy stuff. No cost. Something you should be doing anyway. Keep in mind, the endorsements and team ratings are worth only 10% of the judging score each. We had teams enter and win last year with zero endorsement points and zero ratings. (I don't recommend that as a strategy, but it's possible). The application form itself is very basic: 10 questions, with short character limits. All standard stuff.

pauldisneyiv 16y ago

After viewing the MassChallenge site and perusing the complex application process, I am reminded why I'm not excited about applying anywhere outside of Y Combinator. I don't care about the money I care about the experience. Will I learn anything from these people? From the other startups that are accepted? Outside some seed money, what is the upside? *EDIT My initial thoughts may have been harsh - and perhaps I'm being a hipster - but I don't get the feeling that this is something truly special/cool. I believe there are talented business people involved, but for me it doesn't appear to be a life-changing event as much as a cash prize. That being said there is obviously a lot of support from those involved - they represent the bulk of the dialog here.

PMHacker 16y ago
I would say you will get probably the best line up of mentors you can get on the East Coast. We were one of the finalists last year (TaskPoint) and I cannot overestimate experience and publicity we got out of it
vineet 16y ago
The application process is designed to make you do things that you need to do anyway, i.e. having an executive summary, networking, etc. We (Architexa) were finalists last year and did not find the application process complicated. As for the experience: I found it really helpful. Especially talking to the other startups and working with them day-in day-out. We did not apply for the office space, but it definitely was very useful working right next to the the other teams. Beyond the above, the MassChallenge team works very hard in connecting the startups to the right people in the industry - we got great feedback and made progress because of that.
DesmondPieri 16y ago
You'll learn a lot. The mentors are top notch. Upside is being part of the great MassChallenge eco system for a year (it's that long if you are a winner.) I was with one of last year's winners, RelayRides. It was all upside. And winning this helped us raise our $4.5 million Series A.
- 16y ago

fvds 16y ago

Don't worry about the registration fee. It serves to eliminate people who are not serious about participating/developing their startup plans. You should register (with $199), and if you are serious about your plans you'll have many, many opportunities to get your full $199 back from MassChallenge. They make it easy to get reimbursed (e.g. give an informal pitch in one of the early pitch practice sessions, etc.). Last year we got our registration fee back very quickly (we could have gotten back even several times that). Olivier Boss, Energesis Pharmaceuticals (a MassChallenge 2010 award winner)

rhizome 16y ago
It's still creepy.
- JohnHarthorne 16y ago
  Is it as creepy as taking 6% equity from a company that is still young and strategically weak? To me that is molestation.
  - pg 16y ago
    I wouldn't be surprised to see this sort of comment from a random troll on HN, but I'm surprised to see it from one of the organizers of the program. It suggests that as well as having rather bad judgment, you don't understand the math of equity. A "free" alternative is no bargain if you end up net worse off. http://paulgraham.com/equity.html http://paulgraham.com/equity.html
    - JohnHarthorne 16y ago
      But if we offer a free alternative with equivalent benefits, then 6% is way overpriced. And that's what we do. Paul omits a discussion of opportunity cost. Sure, buying a coke for 50 cents is great ... but getting it for free is much better. Remember that at 6.4% improvement, you end up even with ycombinator. At 6.4% improvement with MassChallenge, you end up 6.4% ahead.

jayzee 16y ago

I have a few questions and their website is spare on details: 1. What is the typical size of the check? I paused the video (http://www.masschallenge.org/ http://www.masschallenge.org/) at the end to note that most checks were $50k and one was $100k. Are there smaller/larger amounts? 2. Getting votes and endorsements: They want startups to get votes from general people to improve their chances of getting selected. This is a bad idea. It is crowd-sourcing herd mentality. I think that is a waste of time for the startup. I saw a post (http://www.masschallenge.org/blog/how-make-it-masschallenge-... http://www.masschallenge.org/blog/how-make-it-masschallenge-...) about the things a company did to get those points and I would rather spend that time on the business. So if we get a 0 on each of those is there a chance that we will get through? Thanks. I think that what they are doing is fantastic barring [2].

DesmondPieri 16y ago
Last year a dozen firms won $50k and 4 firms won $100k.
grandschema 16y ago
re: 1. from the picture it looks like about 4 ft x 1.5 ft
drewvolpe 16y ago
I was in last year's class. I don't believe the endorsement points matter that much in the application. I spent almost no time on them and we got in. I think they're really more of an excuse to engage with people you otherwise wouldn't. If you have a good idea and traction, you'll get in with 0 points.

SueFarina 16y ago

I'm participating as an entrant this year and think it's a fantastic program for start-ups! Great to see it in Massachusetts, too.

jaredstenquist 16y ago

I'm a founder of a (now) VC backed Boston startup who participated in MassChallenge. My team though it would be worth the time to pitch and get some no-strings cash in the bank. Even paying for our $5k/month office would have been awesome. We made it to the first round (got enough votes online and whatnot). The tough part is you can get stuck with judges completely out of your industry that are clueless. Our judges were 2 lawyers and someone with a similar idea to ours ten years ago who thought his was superior. We didn't make it to the second round. I hope this year they make some changes based on everyone's feedback. A couple friends of mine won $50K from this competition. Important to note that it's not $1M awarded to one person/team, it's split however the judges/board like.

WarPaul 16y ago
As a semi-finalist last year, I too had a similar experience with the judging, however after getting feedback from those that completed the surveys, MassChallenge hired software entrepreneur Karl Buttner, who also served as a mentor last year, as Chief Mentorship Officer. He's helping to combat cases like ours, and improve the judging/mentorship experience. I think he's even somewhere on this comment thread...

contextref 16y ago

It's one of many opportunities around Boston, but compared to TechStars and others who "graduate" a dozen or two at most, this program actively accelerates 100+ companies who get to that phase. I've applied and am looking forward to the great learning and networking experience.

DesmondPieri 16y ago

I have endorsed two companies each of which I've worked with for over a year as part of the Boston University Kindle Mentoring program. One of the founders told me this morning that -- in his "networking" to get more endorsements -- he's met some "movers and shakers" in Boston who will be a big help for his business. This is exactly the intended result when the MassChallenge Team added the "endorsement" step to the process. If nothing else, MassChallenge is well thought out. And last year it was well executed by a hoard of people volunteering their time and energy.

Jiminez 16y ago

Mass Challenge? Is that like some kinda "Guess the Weight" competition?

DesmondPieri 16y ago
"Mass" as in "Massachusetts."
WarPaul 16y ago
Also "Mass" as in "the world's largest" (play on words I guess). Funny though, maybe someone should start a LeanChallenge based on Eric Ries' methodology.

rosenjon 16y ago

I think that these two programs offer starkly different things. A focus on the money alone is very short sighted. ycombinator has established itself as the "Harvard" of tech startup incubators. MassChallenge is... well... MassChallenge. As an analogy, when I was deciding between business schools, I had the opportunity to take a scholarship to a lesser MBA program. Or I could pay full price and go to a much higher ranked program. The difference was minimum $50-60k of my own money. I chose to go to the higher ranked program, because of the network that I would be able to build and the long term reputation that came with attending that program. Part of me wishes this wasn't the case; that one's success in life is purely based on their talents and how far they are able to propel themselves on their own steam, regardless of their affiliation with universities or other organizations. Unfortunately, that's not the real world. People care about which organizations you are affiliated with, regardless of whether the education at one is truly better than another. In truth, if you're motivated, you can probably get an equally good education at a community college as you can at an Ivy League school. However, the network you build at these different institutions is vastly different, and I would argue can't be replicated between the two. ycombinator has a track record of producing successful tech startups. This leads to high demand, and the ability to set its own terms. Likening that to "molestation" is not only insulting to the program, but also to all the people who applied to the program (like me). It implies that we don't know what we're doing, and that we are suckers for giving away equity to Y Combinator. I would counter that, contrary to this assertion, I am fully aware of the equity stake that is taken, and believe that it is worth having the Y Combinator organization on my side, as well as the cache with future investors that comes from having participated in the program. I will admit that this decision was not taken lightly, however, and I talked with many founders and funders in the startup world before deciding to apply.

bostonstarup 16y ago

Everyone should breathe for a moment. According to the Angel Capital Association, 60% of their members charge ~$400 to pitch. Also, no one complains about the $18,000 for 3 minutes at Demo. That's a pretty hefty fee, but many get value out of that event. The entrepreneur HAS to be the one to make that value judgement for themselves. The MassChallenge team and others like them are providing a great service and it's up to the entrepreneur to figure out if their making the right decision, not some self appointed guru. I have a hard time understanding those self appointed guru's who claim to have the interest of the poor struggling entrepreneur at heart. Entrepreneur's are a pretty tough lot. If an entrepreneur can't make the right decision about who they should work with, they will likely fail anyway. After all, being a CEO is about making the right decisions. If you can't do that, it's better to find out early.

Nikkki 16y ago

In general, I think the more incubators, the better it is for the whole start-up eco-system. Talk is cheap. Thus, there is no need to quarrel online. Let the success of MassChallenge and Y-Combinator start-ups speak for themselves which program is the best.