BOSTON, MA / ACCESSWIRE / February 8, 2024 / MassRobotics, the largest independent robotics hub, welcomes the first cohort of the MassRobotics Accelerator, powered by the Massachusetts Technology Collaborative (MassTech). This program is unique in its equity-free approach. Each startup participating in the program will be awarded a $100,000 non-dilutive grant from MassTech.
The inaugural cohort was unveiled at MassRobotics annual partner's celebration this week and the three month accelerator program began on February 5, 2024. During the course of the program, startups will experience a robust curriculum of business topics spanning customer discovery, value proposition discovery, manufacturing for excellence, fundraising tactics, and team management.
"Technical founders can often jump to product-building mode before intimately understanding their end user and customer. During this program, our startups will each complete at least 25 customer discovery interviews, in an effort to hone in on their customer pain and needs." said Marita McGinn, the Director of the MassRobotics Accelerator. "Our goal is to help these brilliant technical founders to bolster their business acumen through this curriculum."
Competition was fierce for the accelerator, which had a 7 percent acceptance rate. More than 140 startups applied to this program, with applicants representing more than 25 countries. The selection process was robust, ending with a selection committee composed of notable roboticists, entrepreneurs, and academics.
"Massachusetts is a state blessed with a host of robotics innovation and through this non-dilutive funding, our goal is to attract and grow innovative startups by introducing them to the world-class ecosystem that exists here," said Peter Haas, Director of the Robotics Department at MassTech. "Through this funding model, we're providing the financial boost to give them the time to improve their product through R&D, customer engagement, and through the expert feedback they'll receive through the MassRobotics Accelerator."
Now, to announce the first ever MassRobotics Accelerator cohort:
- Apparel Robotics
- brd BOT
- Gopher Motion
- Hominid X
- Mapless AI
- Oligo
- Robotics 88
- rStream
- SIMPL Automation
- Yard Robotics
To learn more about the selected startups, please visit MassRobotics Accelerator Website.
The MassRobotics Accelerator will culminate with a showcase, hosted at the Robotics Summit & Expo in Boston on May 1st and 2nd, 2024. Additionally, each startup will be presenting at a session on May 1st at 4:15 pm. We welcome the robotics community to attend the Robotics Summit & Expo. Please register to attend to get a glimpse of the innovation happening within the robotics industry, and to support the inaugural class of the MassRobotics Accelerator.
The Accelerator is funded under a $5 million state initiative managed by MassTech to boost the robotics ecosystem in Massachusetts, which includes a focus on expansion of research and development (R&D), testing, commercialization, and workforce development throughout the state.
About MassRobotics
MassRobotics is the largest independent robotics hub dedicated to accelerating innovation and adoption in the field of robotics. Our mission is to help create and scale the next generation of successful robotics technology and connected devices companies by providing entrepreneurs and startups with the workspace and resources they need to develop, prototype, test and commercialize their products and solutions. While MassRobotics originated and is headquartered in Boston, we are reaching and supporting robotics acceleration and adoption globally and are working with startups, academia, industry and governments both domestically and internationally.
See massrobotics.org for details.
About the Innovation Institute at the Massachusetts Technology Collaborative
The MassTech Collaborative is a quasi-public economic development agency that strengthens the competitiveness of the tech and innovation economy by driving strategic investments, partnerships, and insights that harness the talent of Massachusetts. The Innovation Institute is the division of MassTech that advances its core mission of innovation and cluster growth across the Commonwealth. Created in 2003, the Innovation Institute intervenes in the economy in the following four ways:
- Conducts research and analysis that improves the state's understandings of unmet needs and opportunities in the innovation economy;
- Serves as convener and key strategic broker on the landscape;
- Manages high-value projects on behalf of the Commonwealth; and
- Makes strategic investments in support of innovation-based economic development.
For more information, visit https://innovation.masstech.org/
Contact:
Marita McGinn
Director of the MassRobotics Accelerator, Powered by MassTech
Marita@massrobotics.org
SOURCE: MassRobotics
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