MIT startups win big at MassChallenge

Friday, October 31, 2014 - 13:30 in Mathematics & Economics

On Wednesday night, 12 MIT-affiliated startups that participated in this year’s MassChallenge, the world’s largest startup accelerator, took home top prizes — ranging from $10,000 to $100,000 — from the program’s annual awards ceremony. This year, MassChallenge accepted 128 startups for its accelerator program, which began in June. But only 26 finalists — selected by a panel of judges — pitched their business plans for competition at MassChallenge’s awards ceremony; 21 of those earned awards. Of those winners, 12 were MIT-affiliated startups, with at least one founding member who is an MIT professor, student, or recent alumnus: Two captured the $100,000 “diamond” grand prize, eight earned $50,000 “gold” prizes, and four others won various “side-car” prizes of $10,000 or $25,000. Winners of the awards competition, held at the Boston Expo and Convention Center, split a total of $1.75 million in grants, and received more than $10 million in “in-kind deals,” which include legal advice, marketing...

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