The Satellite Applications Catapult will again be sponsoring this year’s MassChallenge UK accelerator, which is offering £500,000 worth of equity free cash prizes.
MassChallenge is a start-up accelerator dedicated to helping entrepreneurs from any industry succeed. It is a not-for-profit registered UK charity, and is just one of several MassChallenge accelerators around the world, including Boston, Mexico, Switzerland and Israel.
The programme connects the UK’s most promising early stage companies with the right resources to help drive growth, create value, and solve real world problems. Successful applicants receive three months of acceleration including mentorship, free office space, education, access to a vast network of experts, investors, industry partners, and other resources. At the end of the programme, MassChallenge provides shares of £500,000 in equity-free cash awards to those start-ups demonstrating the most impact and potential. Since launching MassChallenge in 2010, 835 start-ups have come through the accelerator.
Stuart Martin, CEO of the Satellite Applications Catapult, who is one of this year’s judges, said: “As an organisation with technology innovation and growth at our core, MassChallenge is an incredibly exciting initiative for the Catapult to be part of, helping identify business successes of the future in many different industries. Last year’s UK alumni included Bird.i and WeatherSafe – both spin-outs from the Catapult – of which we’re incredibly proud.”
MassChallenge UK Managing Director, Kerry Ritz, explained: “This is our second accelerator cycle in London and we’re looking forward to recruiting another incredible group of high-impact start-ups and stimulating regional growth in the process. Being accepted on the accelerator presents a significant opportunity for an early-stage company to propel itself along the road to business success. Our panel of judges are leaders in their field and world class experts from a range of industries, so they know a start-up with the potential to succeed when they see one.”
On 7 June, the Catapult and MassChallenge are jointly hosting an event in London called ‘Space technology: Give your business a boost’, at which attendees will get an insight into the fast-growing space sector and discover opportunities to break into it.
Applications for this year’s competition close on 29 June 2016.