MassChallenge has launched its accelerator in Israel this week in a ceremony attended by Jerusalem’s mayor and some 700 Israeli tech stakeholders, The Jerusalem Post reports. The Boston-based firm is looking to guide 100 startups in its first two years in the new Jerusalem offices, offering them work space, mentorship and non-equity funding. MassChallenge Israel will accept applications through March 31 to become part of its first class.
Before this, the accelerator had invited startups from Tel Aviv to its Boston competition where it selected 32 Israeli companies to go through the Boston program.
MassChallenge also has operations in London where it is working with 90 startups. By 2019, it plans to place accelerators in 10 cities.
Beyond “standard accelerator services,” MassChallenge helps startups with access to the government and enterprise sectors. Some of its corporate partners include such giants as Fidelity, Verizon, Henkel, American Airlines, Pfizer, Microsoft, Autodesk, IBM, CVS Health, Bose, Honda, Pepsico and Bosch.
It’s also worth noting that MassChallenge is not the only U.S. company looking to invest in Israeli tech startups. Johns Hopkins Technology Ventures also wants a piece of this market and has teamed-up with local digital health hub Luminox to setup an accelerator for companies looking to change the healthcare as we know it.