MassChallenge established the MC Innovation Fund with a $2 million founding gift from Amy Boger and Joshua Boger to finance new growth and innovation initiatives. The fund is MassChallenge’s first pool of capital dedicated specifically to expanding the organization’s mission and launching new initiatives.
The money cannot be used to maintain existing funded programs or subsidize general operating expenses.
MassChallenge expects the initial $2 million contribution to be deployed over approximately six years.
The structure is intended to give the organization enough long-term funding visibility to pursue projects that might otherwise be difficult to support within annual operating budgets.
Joshua Boger has been involved with MassChallenge since its early years.
He advised the accelerator’s founders, helped establish its first governing board, served as inaugural chair, and has participated as a finals judge for much of the organization’s history.
Boger later became executive chairman of Alkeus Pharmaceuticals after meeting founder Leonide Saad while serving as a MassChallenge judge.
Alkeus was acquired by Tarsus Pharmaceuticals in September 2026.
MassChallenge intends for the Innovation Fund to grow beyond the Bogers’ founding gift through contributions from startup alumni and other supporters.
Since 2009, MassChallenge has supported more than 5,000 startups that collectively raised more than $27 billion.
KEY QUOTES:
“It’s very hard for organizations who are substantial to make another next move in growth of their mission. They can grow what they’re doing bigger, but it’s very hard for them to grow in mission.”
Joshua Boger
“Alkeus wouldn’t have existed without MassChallenge. We thought it was past time that some companies who owe some or all of their success to MassChallenge think about paying back. So this was our way of paying back.”
Joshua Boger
“This gift gives us dedicated resources to pursue growth and new initiatives as part of MassChallenge’s broader multi-year, multi-million-dollar growth plan, while ensuring we continue investing in the work already underway.”
Cait Brumme, CEO of MassChallenge
