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MassChallenge Partners with LEANSTACK and Ash Maurya to accelerate the innovation journey for startups tackling the most critical challenges of our time.
News provided byMassChallenge
Feb 23, 2023, 9:12 AM ET
BOSTON, Feb. 23, 2023 /PRNewswire/ -- MassChallenge is announcing a partnership with Ash Maurya and LEANSTACK, a software and services company helping entrepreneurs turn their ideas into scalable business models. The introduction of the LEANSTACK platform will complement MassChallenge's evidence-based methodology that supports early stage founders and innovators in shortening the runway to launch while accessing the connection and global innovation community they need to build, launch, and grow their businesses.
For the last 12 years, MassChallenge has supported over 4,000 startups going on to raise well over $9B in funding. Operating in 18 other countries across North America, Asia, Africa, Latin America, and Europe, MassChallenge continues its commitment to empowering local communities with entrepreneurship.
With the introduction of the LEANSTACK platform comes two cohort opportunities for startups seeking the MassChallenge-proven method of preparing startups for launch and those seeking a streamlined and systematic way to produce replicable and scalable results. Startups participating in MassChallenge are 2.5 times more likely to raise at least $500,000 in funding and three times more likely to reach at least 15 employees.
This year's US Early Stage cohort, currently accepting applications, will allow selected startups to be a part of either the new Foundations track or the Growth track, accessing the newly integrated LEANSTACK platform experience.
"MassChallenge was founded with the purpose of unlocking the power of entrepreneurship, and in the last 4 years, the entry point for entrepreneurs has become harder to unlock. In response, we sought to find new "keys," said Hope Hopkins, Head of Acceleration. "Partnering with LEANSTACK is an exciting way in which we are reimagining the traditional accelerator model and rethinking how we support founders, particularly those at the earliest stages progress in gaining business traction and value creation."
The US Early Stage Foundations track will offer 75 startups, who do not make it into the Growth track, a virtual-only 30-day curriculum with access to the LEANSTACK platform, including lean canvas, playbooks, and other tools. After their 30-day curriculum, startups will receive the additional benefit of yearlong opportunities to be invited to demo days with corporate partners and access to the MC community. In addition, the accepted startups will receive a guaranteed fast track to round two judging for the 2024 cohort.
The US Early Stage Growth track will offer 125 startups a 3-month in-person and virtual experience that includes Biweekly facilitated LEANSTACK sessions and small cohort meetings with LEANSTACK mentors in addition to participation in other programmed curricula and events run by the MassChallenge team. Mentors will also offer office hours weekly throughout the program. These startups will also access the full MC community, including mentors, global corporate partners, investors, and other networking events to connect with our expanded community. Opportunities to participate in demo days, pitch events, and the chance to compete for cash prizes and awards round out the experience.
"When we saw what MassChallenge was doing, we knew there was an immediate fit," said Ash Maurya, author and founder of LEANSTACK. "We believe better entrepreneurs = better world, and MassChallenge's unique evidence-based programs are designed to help create the next-generation of high-impact entrepreneurs."
For startups eager to join our accelerator community, apply to our 2023 US Early-Stage cohort today.
We connect high-impact, high-potential founders to the knowledge, networks, and connections that impact their companies and, therefore, the world. By design, our non-profit, no-equity, community-driven mission, and model provide equitable access to quality resources to drive direct impact for founders and sector-level impact for communities.
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