Fayetteville-based electronics manufacturer Ozark Integrated Circuits Inc. (Ozark IC) was the only Arkansas-based company to be chosen as a finalist in the 2020 MassChallenge global contest and will compete for up to $2 million in a final round of judging.
Global innovator network MassChallenge recently announced 48 companies made the final round. The finalists were selected from the initial pool of 244 startups after presentations and evaluations from investor and executive judges.
The final round includes distilling the company’s capabilities, contributions and plans into a 15-minute presentation. Finalists will compete for up to $2 million in equity-free cash prizes. The winners will be announced Oct. 22 at the 2020 MassChallenge Virtual U.S. Awards.
“MassChallenge has been an amazing experience for Ozark IC, and me, in particular,” said Matt Francis, founder and president of Ozark IC. “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.”
This is MassChallenge’s 11th year for accelerating startups and its first to host a virtual accelerator. The four-month program provided startups with access to mentors, tailored curriculum, corporate partnerships and industry resources to help launch and grow the companies.
“At MassChallenge, we believe the actions we take now will determine what our future looks like, and we’re proud our 2020 entrepreneurs are developing ideas, tools and technologies today that will create sustainable change,” said David Herrick, chief program officer at MassChallenge. “With the move to a virtual accelerator, these startups aren’t just strengthening their towns, cities, states or countries – they’re growing and transforming the global innovation ecosystem.”
Ozark IC was founded in 2011 and develops electronics used in extreme-temperature applications for energy exploration, aerospace, space exploration and industrial controls.