October 25, 2012 – MassVentures has renewed its partnership with MassChallenge on the MassVentures’ Fast Track program to further fuel the success of MassChallenge 2012 companies and make it easier for those companies to grow and remain in the Commonwealth.
During the MassChallenge Awards Ceremony, Jerry Bird, President of MassVentures, announced its commitment to the finalists, “We are excited to be here again to support the companies that are part of MassChallenge. Following last year’s success, when we provided early funding to Libboo and Vsnap, we realized the value of helping these companies right out of the gate so that they can sustain positive momentum. We want these companies to focus on growth rather than fundraising and contribute to the vibrant innovation ecosystem we have here in the Commonwealth.”
MassVentures will select as many as five 2012 MassChallenge companies to participate in a review process, with MassVentures and MassChallenge announcing the company(s) that will receive a funding commitment from MassVentures in January.
MassVentures is focused on bridging the capital gap for Massachusetts entrepreneurs and driving more startup companies to headquarter within the Commonwealth. Providing early stage capital will ultimately stimulate the economy by catalyzing the creation of jobs.
“The early-stage funding MassVentures provides through the Fast Track Program is exactly what our companies need to launch their business and help vitalize the Massachusetts economy,” said John Harthorne, Founder and CEO, MassChallenge. “Working with MassVentures over the past two years has been a win-win situation for the MassChallenge community.”