Accelerator-awarding competition, MassChallenge, which awards selected startups with cash and other prizes, has chosen Irish proptech and property bidding platform, Beagel, to be a part of its 2021 accelerator program. Beagel was selected from over 3,000 companies across 20 countries and will begin working with MassChallenge to bring its bidding service to the US market.
On the selection, Beagel CEO Healy Hynes, said:
“MassChallenge selects but a handful of what it calls Impact Startups every year. These are companies that it sees as making a difference in the world, and we are absolutely delighted to be the first Irish Proptech company to make the cut.
“We look forward to working with MassChallenge, their Corporate and Industry partners to build and accelerate our real estate bidding service into the US market.”
There are around 2,900 MassChallenge alumni who have raised $8.6 billion in funding since the program’s launch in 2009. These alumni have generated a combined $3.6 billion in revenue, and have created over 186,00 jobs total.
IBM, Nasa, BAE Systems, the International Space Station, KPMG, Oracle, Mitsubishi, Wells Fargo, and more have partnered with the organization. According to John Harthorne, the CEO of MassChallenge, these companies agreed to “make the world a better place through startups”.
Beagel is one of 38 startups that were chosen outside of the US. Beagel is using this time to not only benefit from support provided by MassChallenge, but will also be competing for $3 million in non-dilutive cash prizes in a few weeks’ time. Though the company’s CEO says that the cash prizes would be nice, the real goal is to break into the US market and work with MassChallenge’s team to secure partnerships within that market.
“It’s a testament to the product that the Beagel team has built over the years that it can as easily translate to the US market as it can the Irish. It's something we’ve been incredibly conscious of. We’re not building just for the local market, we’re building for the global market.
“A decision was made in March of last year to start developing our Enterprise product. It was risky at the time, as nobody knew what was going to happen, but we knew it was a risk worth taking.
“The work done by our development team over the last 12 months has been nothing short of phenomenal and it’s a great recognition of the effort that they’ve put in that the value can be seen globally.”
Beagel will continue to service the Irish market, as the support from MassChallenge will help the company as a whole, even in its headquartered market.
“We’ve been delighted to be able to help Irish agents and look forward to supporting more and more in coming months. Ireland is genuinely at the cutting edge of the bidding service revolution and we’ll be here for our clients for many years to come.”