Founding gift from Amy and Joshua Boger establishes a new fund to support MassChallenge’s growth, expand entrepreneurial opportunities, and build on its legacy as a cornerstone of Massachusetts’ innovation economy.

MassChallenge, one of the nation’s leading startup accelerators and a driving force in Massachusetts’ innovation ecosystem, has announced the establishment of the MC Innovation Fund, supported by a $2 million founding gift from Amy Boger, M.D., and Joshua Boger, Ph.D.

This significant investment provides dedicated funding to pursue innovative programs, expand its mission, and strengthen its ability to support entrepreneurs tackling complex global challenges.

Founded in Boston in 2009, MassChallenge has become an internationally recognized startup accelerator, ranking No. 2 in the United States in TIME and Statista’s 2026 list of America’s Best Incubators and Accelerators.

MassChallenge: A Cornerstone of Massachusetts’ Innovation Economy

Massachusetts has long been recognized for its concentration of world-class universities, research institutions, technology companies, life sciences enterprises, and venture capital investors.

Within the Massachusetts ecosystem, MassChallenge has played an important role in helping early-stage entrepreneurs transform promising ideas into commercially viable businesses.

Unlike traditional equity-based accelerators, MassChallenge operates on a zero-equity model, letting founders keep ownership while gaining access to mentorship, industry expertise, corporate partnerships, and funding opportunities.

Since its founding, MassChallenge has supported more than 5,000 startups worldwide that, according to its October 2026 announcement, have collectively raised more than $27 billion in funding. Its international reach now extends to Texas, Israel, Switzerland, and the United Kingdom.

Its activities help connect Massachusetts’ research and entrepreneurial talent with a global network of investors, business leaders, and commercialization partners.

A $2 Million Investment in Future Innovation

The MC Innovation Fund addresses a challenge successful nonprofit organizations often face: finding capital to launch new initiatives without diverting resources from established programs.

The Bogers’ contribution will be deployed over approximately six years and restricted exclusively to growth and innovation initiatives. It cannot subsidize existing programs or general operating expenses.

“It’s very hard for organizations that are substantial to make another next move in growth of their mission,” Joshua Boger explained.

By establishing a dedicated funding source, MassChallenge can pursue opportunities that might otherwise remain unrealized because of competing operational priorities.

A Longstanding Commitment to Entrepreneurship

Joshua Boger has maintained a close relationship with MassChallenge since its earliest years, advising its founders, helping establish its governing board, and serving as inaugural chairman.

His involvement also illustrates how startup accelerators can foster lasting entrepreneurial relationships.

While judging a MassChallenge competition, Boger met Leonide Saad, founder of Alkeus Pharmaceuticals. Boger subsequently became the company’s executive chairman.

In September 2026, Tarsus Pharmaceuticals acquired Alkeus, demonstrating the accelerator’s potential long-term impact.

“Alkeus wouldn’t have existed without MassChallenge,” Boger said. “We thought it was past time that some companies who owe some or all of their success to MassChallenge think about paying back.”

Building the Next Chapter of Massachusetts Innovation

MassChallenge CEO Cait Brumme emphasized that the gift supports the organization’s broader multiyear, multimillion-dollar growth strategy.

The fund is also intended to attract additional philanthropic support from successful startup alums, entrepreneurs, and other supporters of MassChallenge’s mission.

For Massachusetts, the initiative reinforces the importance of entrepreneurial infrastructure alongside research funding, venture capital, and technological innovation.

By helping promising startups navigate the difficult journey from innovation to commercialization, MassChallenge contributes to the interconnected network that makes Massachusetts a leading center for entrepreneurship.

The MC Innovation Fund offers a compelling example of how successful entrepreneurs can reinvest in the institutions that helped launch their ventures—creating opportunities for the next generation of innovators.