Founders take the stage at MassChallenge’s flagship Innovate event in Dallas. [Photo: MassChallenge]
Nonprofit startup accelerator MassChallenge established its second U.S. headquarters in Dallas, thanks to continued financial support from Dallas’ Lyda Hill Philanthropies.
Boston-based MassChallenge came to North Texas in 2022 with money from Lyda Hill Philanthropies. With a renewed two-year grant from the philanthropic organization, MassChallenge plans to add programming that will help advance promising innovations.
“Dallas has extraordinary strength in research, industry and capital, and we’re proud to be part of building a leading life science and biotechnology ecosystem here,” MassChallenge CEO Cait Brumme said in a statement. “We’re grateful that Lyda Hill Philanthropies’ renewed support allows us to continue the long-term work of accelerating high-potential biotechnology companies and contributing to the ecosystem of support around them.”
As part of the expansion, MassChallenge said it will run two 10-week accelerators, one in health and life sciences and the other in security and resiliency. The security and resiliency accelerator will focus on cybersecurity and AI.
MassChallenge also plans to offer clinics for early-stage founders to evaluate their products’ market readiness with help from academic, clinical, corporate and industry stakeholders.
Also, returning to Dallas for the fourth year, MassChallenge’s flagship Innovate ’26 conference is set for Nov. 17 at Pegasus Park, a 26-acre innovation campus.
Setting the pace for innovation
MassChallenge cited the region’s ascent as a hub for life sciences research, entrepreneurship and investment as a driver of the Dallas expansion.
Since the organization came to Dallas four years ago, the number of applications from Texas for MassChallenge’s national programs has increased more than fivefold, the nonprofit said. Meanwhile, attendance at local MassChallenge events approaches 1,000 per year.
“The startups coming out of MassChallenge’s programs are tackling some of the toughest health and science challenges facing North Texas and the nation,” Craig Lewis, a MassChallenge board member and its interim managing director, said in a statement.
“This renewed investment gets those solutions to market faster,” he said, “and it’s proof that the innovation happening right here in North Texas can compete with, and outpace, anywhere else in the country.”
‘World-class life sciences ecosystem’
The local life sciences ecosystem keeps growing as well. The Dallas Regional Chamber said 14 life sciences companies opened locations or expanded in the region last year.
Ten companies that started, expanded or relocated here received grants from the Cancer Prevention and Research Institute of Texas and subsequently raised more than $2 billion in direct follow-on funding, said MassChallenge, citing CPRIT data. Among the businesses that benefited from CPRIT funding: Dallas-based Dialectic Therapeutics and Dallas-based OncoNano Medicine.
“Lyda Hill Philanthropies has long believed that North Texas has the scientific talent, institutions and ambition to support a world-class life sciences ecosystem,” said Nicole Small, CEO of Lyda Hill Philanthropies and CEO of LH Capital.
Opportunity for investment
Universities, healthcare systems, economic development organizations, businesses and investors throughout North Texas contribute to growth in the life sciences and tech sectors.
“Dallas has proven its ability to attract major companies and investment. The opportunity now is to invest just as intentionally in the companies that start here and give them what they need to stay and scale here,” Linda McMahon, CEO of the Dallas Economic Development Corp., said in a statement.
R E A D N E X T
North Texas has plenty to see, hear, and watch. Here are our editors’ picks. Plus, you’ll find more selections to “save the date.”
The grant, awarded to UT Southwestern biotech spinoff MusiQ Bio, could pave the way for human clinical trials of the startup’s proprietary cancer-fighting platform within five years.
Flexcar says it’s disrupting a $110 billion industry “by providing customers a better alternative to car ownership.”
Located at DFW’s Terminal A, the Bonton Farms retail store will introduce travelers to the nonprofit’s mission while selling local honey, handmade jams, goat milk soaps, grab-and-go food items, apparel and gifts. It is the organization’s first location outside South Dallas.
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