MassRobotics ready to give $100,000 to each company accepted into its accelerator program
MassRobotics, an independent robotics innovation hub, has launched the inaugural MassRobotics Accelerator, powered by the Massachusetts Technology Collaborative (MassTech).
This program is built to support and advance robotics entrepreneurs by providing bespoke programming, individual mentorship, and immersion in the world-class robotics network that is the MassRobotics ecosystem.
The MassRobotics Accelerator will reside at MassRobotics headquarters located in the vibrant Seaport Innovation District in Boston.
The accelerator is a transformative 13-week program that opens doors to a wealth of resources, including MassRobotics’ state-of-the-art prototyping labs.
In keeping with its nonprofit mission, the MassRobotics Accelerator is a zero-equity program. The businesses accepted into the program will receive $100,000 in non-dilutive funding.
Tom Ryden, executive director of MassRobotics, says: “The robotics industry is unique and special, and needs a special type of accelerator to help advance robotics technologies. The MassRobotics Accelerator will stimulate an exciting group of companies poised for rapid growth.
“In addition to the amazing resources, introductions and networking opportunities MassRobotics provides to our residents throughout the year, this dedicated 13-week program will help build companies to meet the ever-expanding demand for robotics across industries.”
Ten robotics startups will be accepted into the accelerator, which will begin on February 5, 2024. Founders accepted into the program will experience a curriculum meticulously crafted to address the unique needs of robotics startups.
This curriculum will cover the breadth of robotics company-building, including product development, customer discovery, pitch delivery, team building and fundraising.
Specialized content tailored to robotics companies such as design for manufacturing, manufacturer pitch techniques, and bill of materials (BOM) development will also be integrated into the program.
Daniel Theobald, founder of Vecna Robotics, says: “As we navigate the ever-evolving landscape of technology and innovation, it’s imperative to recognize how important it is for founders to be a part of an active startup community.
“The MassRobotics Accelerator offers robotics founders with the business education and industry connections they need to find early success.
“MassRobotics is the driving force behind the creation of cutting-edge technologies that shape our future.”
This initiative builds upon MassRobotics’ successful track record of fostering innovation within the robotics industry and leverages the MassTech Collaborative’s commitment to advancing the robotics sector in Massachusetts.
Ujjwal Kumar, president of Teradyne Robotics, says: “As a partner of MassRobotics, we are excited about this new venture here in Boston.
“The city has great local talent, support and access to capital to make significant advances in robotics. The MassRobotics Accelerator will benefit the local economy, and its member companies will benefit the world.”
Key program highlights:
- Non-dilutive Funding: Startups accepted into the accelerator will receive $100,000 in non-dilutive funding to fuel their growth.
- Mentorship and Guidance: Participants will gain access to a network of experienced mentors and industry experts who will provide invaluable guidance and support. This mentorship will help startups refine their business strategies, navigate technical challenges, scale operations and prepare to fundraise.
- World-Class Facilities: The accelerator will be housed within the MassRobotics facility. Here, startups will have access to a collaborative workspace and a prototyping lab, which offers equipment such as CNC, 3D printers, laser cutter, waterjet cutter and more. Startups will also have access to an Industrial Automation lab, Human Robot Interaction (HRI) lab and several robotics platforms such as collaborative robot arms, autonomous mobile robots, grippers and other tools.
- Industry Connections: The program will facilitate introductions and partnerships with leading robotics and AI companies, academic institutions, and government agencies in Massachusetts, connecting startups to potential customers, collaborators and investors.
- Demo Day: The MassRobotics Accelerator will culminate in a Demo Day, hosted at the Robotics Summit & Expo on May 2, 2024. Participating startups will have the opportunity to pitch their companies to investors, industry leaders, and the broader tech community.
Applications for the MassRobotics Accelerator are now open, and interested startups are encouraged to apply here by November 30.