Foley has announced that the firm will serve as a 2013 Gold Partner of MassChallenge, the world’s largest startup accelerator, for the third consecutive year. Based in Boston, the four-month program begins June 25 with a two-week boot camp and ends on October 30, 2013, when select companies will be awarded more than $1 million in cash prizes at the MassChallenge closing awards ceremony.
As a founding sponsor of MassChallenge, Foley will provide startup companies with free business mentorship and legal counsel across diverse practice areas and industries, including financing, equity incentives, health care, life sciences, intellectual property, energy and clean technology, among others. The firm is the official sponsor of the MassChallenge Boot Camp, during which its attorneys will be participating in mentoring and networking sessions. The fourth day of the MassChallenge Boot Camp will take place in Foley’s Boston office on July 1.
More than 25 Foley attorneys from across the firm will support MassChallenge as part of a team led by Gabor Garai, Boston partner and chair of the firm’s Private Equity and Venture Capital practice. Companies in the accelerator may also be eligible to receive investment from the firm’s venture capital fund, Foley VenturesSM, which is dedicated to investing in or with Foley clients.
“Foley’s investment in MassChallenge demonstrates the firm’s strong commitment to the entrepreneurial community, which is a vital component to the growth of the nation’s economy,” said Gabor Garai. “This program provides our attorneys with a unique opportunity to mentor promising startup companies that are driving key innovation in their various industries.”
MassChallenge selected a class of 128 startup companies from across the globe to participate in the program after a rigorous six-week evaluation process of approximately 1,200 applicant companies. The program is open to all companies, from anywhere in the world, in any industry. MassChallenge is a nonprofit organization and requires no equity stake from participating startups.
“Foley’s dedication to MassChallenge over the past three years has been critical to the success of our program,” said John Harthorne, founder and chief executive officer of MassChallenge. “The firm not only provides invaluable guidance to entrepreneurs in the accelerator, but their attorneys demonstrate outstanding passion and enthusiasm for the startup community in every interaction.”
About Foley & Lardner LLP
With approximately 900 attorneys in 21 offices, Foley & Lardner LLP provides award-winning business and legal insight to clients across the country and around the world. Our team-based approach, innovative technology, and focus on value and client service are continually recognized by our clients and the legal industry. Foley has been named one of the elite BTI Client Service 30 for nine of the past 10 years in a survey* of Fortune 1000 corporate counsel. In addition, Foley received 20 national first-tier rankings on the 2013 U.S. News – Best Lawyers® “Best Law Firms” list and was named to the 2012 InformationWeek 500 list for technological innovation that enhances business value.
*The BTI Consulting Group (Wellesley, MA)
MassChallenge is the largest-ever startup accelerator, and the first to support high-impact, early-stage entrepreneurs with no strings attached. Over $1 million in cash prizes is awarded to winning startups, with zero equity taken. Additional benefits for startups include world-class mentorship and training, free office space, access to funding, legal advice, media and over $15 million of in-kind support.