Review on MassChallenge by Mathias David
Well Supported And Having A Great Success Rate Makes MassChallenge One Of The Best Of Its Kinds
TBefore now, whenever I hear the word start-up company,I get really confused. This is mainly due to the fact that I never knew of these types of companies. This continued this way until I came across these type of companies as the Revain team companies of the week, this made me gain interest in learning more about them. Running a thorough check through these kind of companies, I discovered what they really meant by start-up companies. These are small companies which are having issues in building up their company. Most times, these issues tends to come in the form of finance as most of these companies seems to lack enough finance to grow their company from scratch. Due to the support needed by these start-up companies, some companies tends to put it upon themselves to provide these support required by the start-up companies. They tend to provide financial support to companies with nice ideas and help in moving their company forward. One of such company is MassChallenge.
The MassChallenge is a company that was founded in Boston, Massachusetts which is located in the United States of America but have branches in places like Switzerland, Israel and Mexico which helps them in reaching out to diverse start-up companies across the globe, this is proven by the fact that they have been able to reach out to diverse start-up companies across more than 52 countries. The fact that they have branches across some countries also help them to remain impartial in the way they do things. This start-up accelerator, which was co-founded by John Harthorne and Akhil Nigam started as a not-for-profit one and has gained its source of finance from top leading companies like Facebook, Microsoft and Nestle, making them having no problem with finance at all. The MassChallenge company has been in existence since the year 2009 and has achieved alot amidst these years. This is proven by the fact that as at the year 2019, that is ten years later, they have been able to the company behind close to two thousand start-ups and have also been able to generate more than 2.5 billion dollars in revenue. The fact that they have been in existence for that long also leaves them with more than enough tears of experience to proficiently support these start-up companies. Many people out there, myself inclusive, believe so much in companies that have been in existence for long. I do believe in them because being in the industry for long would have them learnt alot from successful companies and those that failed too. The MassChallenge and many other companies in this category seems to have been in existence for long and makes them one of the best field to me.
The MassChallenge company seems to be a bit different from other companies in its class. This is because the company organizes competitions between these start-up companies, making them go out in search of the best ideas. Aside that, another thing baffles me about these competitions they host amongst start-up, the fact that they reward the best company with rewards in cash. This is really fascinating and I really enjoy that. This would make the competition as tough as one can think as all start-ups would be on the lookout for nothing else but the best making almost all, if not all, the projects nothing too far from the best. The company stands out as the best due to many reasons some of which it is supported by top companies and the competitions they make available but all these seems to come with a disadvantage which is the fact that they tend to pressurize the start-up companies too much. I don't really like this as some of these companies tends to be frustrated at some point. I guess they should reduce the intensity of the pressure they place on their start-ups and aside this, I tend to have no other problem with the MassChallenge company.he
Pros
- The MassChallenge company is one that has been in existence since the year 2009 and has been behind close to 2 thousand start-ups
- The are well supported or financed by top companies like Facebook, Microsoft and Nestle which makes it almost impossible for them to run out of funds
- They host competitions amongst the start-ups which helps to carefully select the best out of them and makes them perform their best
- The company has been in existence for long leaving it well experienced
Cons
- They tend to pressurize these start-ups which I don't really find good and hope they work on that
