FORBES about @MassChallenge
MassChallenge: A Colossal Startup Accelerator That’s 100% Free
John Harthorne and Akhil Nigam make their living by giving things away; things like office space, mentorship and millions of dollars. As the founders of MassChallenge, a Boston-based startup competition and accelerator, Harthorne and Nigam nurture 125 young companies and dole out $1 million in grants each year. They do not take any equity in return.
With help from a high-powered roster of sponsors (including Blackstone Group, Microsoft and Verizon), a network of 200 mentors and one very generous commercial real-estate developer, MassChallenge hosts all 125 startups gratis for three months each summer in its 27,000 square-foot office. Along with access to the longest continuous writable service in the world (as verified by the Guinness Book of World Records), companies working out of One Marina Park Drive receive free legal counsel, PR support and targeted introductions to customers and investors. Each October, those who show the most promise get a piece of $1.1 million in grant money.
Full text @ http://www.forbes.com/sites/jjcolao/2012/03/13/masschallenge/