MassChallenge

MassChallenge is a global nonprofit startup accelerator headquartered in Boston, Massachusetts, founded in 2009. It supports early-stage entrepreneurs from various industries, including technology, healthcare, and finance, by providing mentorship, resources, and networking opportunities. With locations in countries such as Israel, Mexico, Switzerland, and Texas, MassChallenge operates a non-equity model, allowing startups to retain full ownership while benefiting from expert guidance and connections. The accelerator conducts various programs tailored to specific sectors, such as MassChallenge HealthTech and MassChallenge FinTech, which facilitate partnerships between startups and established enterprises to drive innovation and market growth. Through its extensive global network, MassChallenge aims to strengthen the innovation ecosystem and empower high-potential startups to create meaningful impact.

Cait Brumme

Acting CEO

Siobhan Dullea

CEO

Kiki Mills Johnston

Managing Director, Boston

Matt Lashmar

Managing Director

Camila Lecaros

Managing Director

Yonit Serkin

Managing Director

Devon Sherman

Founding Director, Head of MassChallenge FinTech

Michelle Williams

Vice President and Head of Texas Strategy

Past deals in Costa Rica

Costa Rica Insect Company

Non Equity Assistance in 2021
We create healthy and sustainable solutions for the world based on insects. A very nutritive and eco friendly food source. Currently we are using about 50% of the habitable land for agriculture and the livestock industry is the major contributor to CO2 emisions, but In just 30 years the amount of food available will not be enough for the world`s population. By making healthy, and tasty products from insect powder such as flour for bread, cake mix, and even protein shakes, we are able to reduce the amount of livestock usage and also provide a sustainable and scalable solution. Our business model is based on 3 keypoints: >Mass and Standarized Production which is possible using our insect incubator (which is patent pending) >Sustainable and efficient Production since Costa Rica has the perfect weather conditions, >And our Partner Program to provide jobs and income to the poorest sectors of Costa Rican society. Our partner program is supported by BID Lab and Fundecooperación who are helping us deliver the program on a national scale. Costa Rica Insect Company and we Save the World Eating Bugs!

ClearLeaf

Non Equity Assistance in 2021
ClearLeaf specializes in developing non-toxic fungicides and bactericides for agricultural applications, utilizing patent-pending technology that is organic certified in the EU and Japan. The company offers pre and post-harvest solutions for a variety of crops, including coffee, bananas, pineapples, and various vegetables. Its flagship product, GotaBlanca®, is currently marketed in Costa Rica, with plans to expand into Central America. ClearLeaf has established an exclusive commercial agreement with Colono Agropecuario, the largest agrochemical distributor in the region, which has significantly boosted its sales since the partnership began in 2021. The company's mission is to provide sustainable alternatives to toxic agrochemicals, enhancing farm efficiency while safeguarding human health and the environment, ultimately improving safety conditions for agricultural workers.

Airstrument

Grant in 2017
Airstrument provides a motion-tracking wearable device that offers gamified feedback for rehabilitation and assistive purposes. It is currently testing the device as a musical and gamified platform for hand rehabilitation in collaboration with hospitals and NGOs in Israel, India, and Costa Rica.
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