Verizon has partnered with MassChallenge, the world’s largest accelerator program and startup competition, to help early-stage entrepreneurs grow their businesses. Since it began in 2010, MassChallenge has accelerated 617 companies that have created 4,802 jobs and generated $404 million in revenue. Verizon provides mentoring, financial support and 300 Mbps FiOS Quantum Internet service to the 128 startup businesses at MassChallenge, which is based in Boston. Below is the first in a series of guest posts by members of the MassChallenge community. Jibran Malek is the marketing manager at MassChallenge.
1. Access to resources
To jump-start their businesses, entrepreneurs need access to people, events and things. It’s difficult to create impact and action while working in a basement; and in the age of the startup renaissance, there is an increasing demand for incubators and accelerators designed to suit the needs of startup companies.
At these programs, startups can find the people they need to provide solid mentorship, advice and inspiration. Entrepreneurs can also acquire access to events that will help them spread the word about their ventures and mingle with like-minded innovators who will provide them with feedback and connections to great talent. Finally, startups need things to bring their idea to action. They need money, hardware, software, and even legal or PR services.
2. A great office space
A great office space satisfies the existential need to work alongside the inspired and motivated people who foster collaboration and the sharing of ideas. The creative energy that an open, co-working environment provides allows ideas to flow freely between individuals of diverse backgrounds -- leading to ultra-rapid iteration and innovation.
The most important thing any startup needs is -- obviously -- a connection to the world around them. As entrepreneurship takes a more prominent position in society, so does the need for interconnectivity with stakeholders around the world. With organizations like Verizon working to provide innovative Internet services for small businesses, the ability for any entrepreneur to tap into a global wellspring of ideas is better than ever.
Ultimately, an aspiring entrepreneur needs to do everything he or she can to get connected. And while it may sound daunting, the path to global innovation is easier than ever thanks to the support of a vibrant, global innovation ecosystem.
Written by Jibran Malek, marketing manager at MassChallenge