Ozark Integrated Circuits (IC) has been selected to be a finalist in the 2020 MassChallenge accelerator.
Established in 2009, MassChallenge is a global innovation network that aims to accelerate startups. According to its company website, more than 2,400 MassChallenge participants have raised $6.2 billion in funding and $3 billion in revenue.
“MassChallenge has been an amazing experience for Ozark IC, and me, in particular” Ozark IC founder and president Dr. Matt Francis said in a statement.“While it is definitely a great validation of our team and our products, the access to our mentors has had an enormous impact. They have provided invaluable advice on everything from presentations to company organization and priorities. Whether we are a final winner or not, going through the MassChallenge process has been of enormous benefit to Ozark IC and me personally. I am very grateful to MassChallenge and the Houston Cohort.”
Based in Fayetteville, Ozark IC is a startup focused on the rugged electronics sector. The company provides “integrated circuits and systems on chip for extreme environments,” according to its website.”
The accelerator started with 244 companies, which was narrowed down through presentations and judge evaluations. In total, 48 companies were selected as finalists, spread across four accelerators in Austin, Boston, Houston and Rhode Island. Ozark IC is a participant in the Houston accelerator. The winner is expected to be announced in October.
Ozark IC is the only Arkansas startup to be named to MassChallenge’s list of finalists. Southern states had a significant representation in the MassChallenge competition with 21 percent of startups coming from Southern states. Ninety-six of the startups were located outside of the traditional startup hub of San Francisco.
Almost half of the MassChallenge finalists are high tech companies, a category that Ozark IC fits into. Of all the companies, 46 percent were high-tech companies. The remaining companies are in the health sector (32 percent); general sector, which includes advanced manufacturing, aerospace, materials, travel and tourism (15 percent); social impact (5 percent); and energy and cleantech.