PROVIDENCE – MassChallenge, which received a $100,000 matching Innovation grant from the R.I. Commerce Corp. in March 2016 to set up a Providence office, has announced the launch of the MassChallenge Rhode Island accelerator program.
The four-month accelerator program will culminate with the top startups competing for up to $50,000 in cash prizes. The first cohort will consist of approximately 20 startups in its first year, the company said. It will run from June through October, with awards being presented in October.
Rhode Island startups had previously participated in MassChallenge accelerator programs through the company’s flagship program in Boston.
Application to the program opens Feb. 7.
The early bird deadline for applicants is March 1. The final deadline for application for applications to the program is March 28 at noon.
The cohort will be announced May 23.
“I am thrilled to collaborate with Rhode Island’s innovation community to ensure that local startups have the opportunity to successfully launch, grow and create impact in this state and beyond,” said Andrew P. Mallon, program director, MassChallenge Rhode Island in a statement.
The organization is also hosting an application launch event in Boston on Feb. 8, a day after applications open, at 401 Park Drive in Boston on the eighth floor from 6-8 p.m. Mallon, among others, will be there to answer questions for applicants for both the Boston-based and Providence-based MassChallenge programs.
“There is significant entrepreneurial activity taking place in Rhode Island and an eagerness from policy makers, corporates, universities and community leaders in further strengthening the state’s ecosystem through connections to the global economy,” said Kiki Mills Johnston, managing director, MassChallenge Boston, in a statement. “Since 2010, MassChallenge has accelerated many Rhode Island-founded startups through our flagship Boston program. We look forward to expanding our efforts in the state to ensure startups have access to a network of resources and support in Rhode Island, Boston and around the world.”
MassChallenge has partnered with the R.I. Commerce Corp., FM Global, Delta Dental, the Rhode Island Foundation and the Verizon Foundation to support the first cohort program.
Chris Bergenheim is the PBN web editor.
