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Published Feb 06, 2019 by Clint Pasche
One of the world’s leading business accelerators, MassChallenge, has announced it is opening a new office in Downtown Houston. Landing a recognized program like MassChallenge is viewed by many as a coup for Houston as the city’s innovation ecosystem continues to build momentum.
The announcement is one of a series of wins for the region including new details emerging on Rice University’s new innovation district dubbed The Ion, the $25 million first closing of the HX Venture Fund of funds, the announcement of TMC3, the Texas Medical Center’s translational research campus, and several others.
MassChallenge Texas’ office will be located in Houston’s Innovation Corridor in the GreenStreet development and is expected to support up to 25 early-stage startups through a zero-equity, six-week bootcamp in the summer of 2019.
Several highlights from the announcement:
The program includes a unique range of intensive in-person training, mentoring, community connectivity, and virtual classes – all at zero cost and for zero equity. The program is tailored for startups that have raised no more than $500,000 in equity-based funding and generated less than $1 million in revenue in the last 12 months.
MassChallenge Texas, which launched in Austin in 2018, is the second domestic and seventh international location in the MassChallenge’s network. With the support of corporate partners, innovation leaders and local government, MassChallenge Texas accelerated 84 companies that have raised more than $30M in funding, generated $20M in revenue, and created 524 jobs. In its inaugural year, the Texas-based accelerator awarded $500,000 in equity free cash to top startups from their program. By expanding to Houston, MassChallenge Texas is continuing its commitment to strengthening and growing the innovation ecosystem across the Lone Star State, working to make Texas the best place in the world to innovate.”
MassChallenge is a global network of zero-equity startup accelerators headquartered in Boston. The Houston location joins with Austin and Rhode Island as the only domestic outposts for the organization, along with international offices in Israel, Mexico, and Switzerland.
Greater Houston Partnership President and CEO Bob Harvey offers members a virtual address providing updates on the organization's work related to economic development, public policy and other key initiatives critical to the Houston regionâs long-term economic success. In this address, Bob will provide an overview of the Partnership's work on bolstering economic development in several key industries including energy transition, life sciences and digital tech. He will also share work being done across the region to address public safety.Â This webinar is exclusive for Partnership members.Â *Your registration will be confirmed by our membership team. You will receive your unique Zoom link for this webinar on June 20. Please be sure to whitelist email@example.com and firstname.lastname@example.org to ensure you receive information regarding this event and your unique link.
The Greater Houston Partnership will host a conversation on business and tourism opportunities between Houston and Mexico, featuring updates from The Partnership and Houston First. Mexico is Houstonâs second largest international trade partner with average trade totaling $22.2 billion annually over the last decade. The region is also home to a thriving community of more than 590,000 Houstonians who were born in Mexico and a top tourist destination.Â Houston First Chief Executive Officer Michael Heckman will provide an overview of the organization's work to expand tourism opportunities with Mexico.Â The Partnership's Vice President of International Investment and Trade, John Cypher, and Chief Economic Development Officer, Susan Davenport, will also discuss recent work to bolster connections with Mexico and other major international markets. Business Beyond Borders "Go Beyond" is part of the Greater Houston Partnership's International Business Month, a series of programming and exclusive content highlighting the region's internationality and strength in connecting businesses to all corners of the world.
The Greater Houston Partnership's Research team will provide an overview of Houston Facts, an annual Partnership publication that provides information on the Houston region. For this event, each member of the team will share highlights from the publication with comparisons to the current pandemic, economy, and protests. Topics will include health care, energy, demographics, and more.Â