In the presence of
the Secretary of Economy, Ildefonso Guajardo Villarreal, MassChallenge
announced the start of its program of large-scale acceleration in Mexico.
The funds will
enable the arrival of MassChallenge to Mexico will be provided by the National
Institute of the Entrepreneur (INADEM, by its initials in Spanish) Gentera,
Aeroméxico, Promotora Social and the government of Mexico City, strategic
partners of this initiative.
program of acceleration, would follow in Mexico the model of high quality
support "without risk of capital contribution"; that is, without the
organization applies a share in the stocks of a company in exchange for their
Mexico was selected
as the Latin American headquarters of its plans of expansion, thanks to the
strength and enthusiasm of the innovation ecosystem and its potential to
contribute further to the existing global network of entrepreneurs, as well as
the successful experience it had with the pilot programs conducted in
partnership with the Zapopan Challenge.
"We had some
new class companies in Mexico participating in the MassChallenge program in
Boston and we know the enormous potential that exists there", said John
Harthorne, founder and CEO of MassChallenge.
recognizes the talent, the innovation and creativity in Mexico and Latin
America, which is ideal for a new program of acceleration. We are excited to
move forward with the plans to establish a comprehensive program in the
region", he said. For his part, Enrique Jacob Rocha, President of INADEM,
welcomed MassChallenge to Mexico, noting that our country has a vibrant
ecosystem that is growing at exponential rates and gradually attracts the
interest of more international actors.
"The start of
operations of MassChallenge in Mexico, puts the country as a dynamic and
attractive ecosystem for the rest of the world", he settled.
acceleration programs MassChallenge in Boston, London and Tel Aviv have
supported 617 start-ups, who have managed to raise $ 950 million with private
equity funds, generating about $ 480 million in profits and created around
5,100 jobs in the various countries where the accelerated companies are
located, which is expected its tangible and positive impact too in order to
boost the Mexican economy.
The launch of
MassChallenge in Mexico, undoubtedly, represents a great opportunity to add to
its entrepreneurial ecosystem, a comprehensive and fresh vision to help
identify, strengthen and promote the start-ups with high-capacity of scaling
They were present
William Duncan, Deputy Head of the Mission of the US Embassy in Mexico; Salomón
Chertorivsky Woldenberg, Minister of Economic Development of the Federal
District and Kara Shurmantine, Director of Global Alliances of Mass Challenge,
among other personalities and special guests.