Dallas, September 29th / PRNewswire / -- Rated as the second-largest accelerator in the United States by TIME and Statista, MassChallenge announced an expansion of its investments in Dallas and will establish a second U.S. headquarters with the support of a two-year renewal of funding from Lyda Hill Philanthropies. The founder of Lyda Hill Philanthropies, Lyda Hill, was recently selected for the 2026 TIME100 Philanthropy list. The renewal of this partnership aims to further accelerate innovation and the life sciences ecosystem in North Dakota.
This renewal investment is built on the foundation of five years of collaboration since the activation of Pegasus Park, strengthening the connections, projects, and startup pipeline that support the life sciences ecosystem in that region. Since 2022, MassChallenge has been providing accelerator programs locally, helping founders connect with experts, bringing together the ecosystem through dozens of events, and creating opportunities for high-potential companies from North Texas and other regions to engage with the local community.
This generous funding from Lyda Hill Philanthropies enables MassChallenge to expand its proven accelerator program in Dallas, with a focus on promoting collaboration between businesses and startups in North Texas, as well as connecting regional business leaders with screened startups that are ready for commercialization. Two 10-week intensive early-stage accelerator programs, focusing on health and life sciences, and security and resilience respectively, will help founders reach key technical, regulatory, and business milestones, giving them a better chance to win customers, attract capital, and scale up. Founder Access Clinics will also provide opportunities for even earlier-stage founders to validate their market approaches through feedback from academic, clinical, corporate, and industry stakeholders. This collaboration will also support MassChallenge's flagship event INNOVATE '26 in Dallas, which is scheduled to take place on November 17th at Pegasus Park.
MassChallenge CEO Cait Brumme stated: "Dallas boasts extraordinary capabilities in research, industry, and capital. We are proud to be part of building this leading ecosystem in life sciences and biotechnology here. We are grateful for the continued support from Lyda Hill Philanthropies, which allows us to continue to foster the accelerated growth of high-potential biotech companies over the long term and contribute to the ecosystem surrounding them. Lyda Hill Philanthropies has always been a catalytic partner in forging these connections, and we also thank them for their ongoing investment in the founders, institutions, and networks that are transforming North Texas into a global leader in biotechnology and life sciences ecosystems."
Lyda Hill Philanthropies, CEO and LH Capital, CEO, on the token issuance of le, Small stated: " Lyda Hill Philanthropies has long believed that North Texas possesses the scientific talent, institutions, and ambition necessary to support a world-class life sciences ecosystem. The establishment of Pegasus Park is aimed at bringing together the talent, infrastructure, and resources required for innovation and expansion in one place. The growth we have seen throughout the park and region confirms the results that can be achieved when we make long-term investments; this renewed partnership with MassChallenge will help more founders and companies establish, grow, and succeed here."
At the time of this renewal investment, North Texas was in a phase of strong growth, a momentum that is reflected not only in the expansion of MassChallenge since entering the region but also in the market itself. Since 2022, the number of national project applications from Texas for MassChallenge has more than quintupled, and the annual participation in innovation activities is approaching 1,000 people. This growth echoes the broader momentum of the region. Dallas Regional Chamber data shows that by 2025, there will be 14 life science companies established or expanding in the Dallas-Fort Worth area alone; CPRIT indicates that the 10 companies founded, expanded, or relocated to the region with their support have subsequently received over $2 billion in direct follow-on financing.
This trend is particularly evident in Pegasus Park. BioLabs, at, and Pegasus Park filled their co-working spaces within 15 months, whereas the original estimated timeline was 5 years. This demand has driven the construction of Bridge Labs within the Pegasus Park campus, which was put into use in 2024 and boasts 135,000 square feet of laboratory space for the growth phase. Pegasus Park is also one of three national hubs of the US National Institutes of Health (NIH), and this hub was selected after an extremely competitive nationwide selection process.
The growth of Pegasus Park reflects the overall expansion of North Texas as a destination for life science research, entrepreneurship, and investment. Universities, healthcare systems, businesses, investors, and economic development organizations throughout the region are working together to create an environment that facilitates the commercialization of promising sciences and technologies and generates new economic opportunities. For Dallas Economic Development Corporation, supporting companies that are starting out in the area, as well as those that are attracted there, is an important part of these opportunities.
Dallas Economic Development Corporation CEO Linda McMahon stated: "Dallas has proven its ability to attract large companies and investments. The opportunity now is to similarly invest consciously in companies that are starting out here and provide them with everything they need to stay and expand. This requires capital, talent, infrastructure, as well as strong collaboration between public and private sectors and academia. Dallas has a tremendous advantage in life sciences and technology; by continuing to invest in our innovative ecosystem, we can transform these advantages into companies, high-quality jobs, and long-term economic growth."
For the founders of North Dakota, a broader regional momentum is creating new opportunities to help promising sciences transform into companies that can enter the market and scale up, while also fostering an innovation economy with national competitiveness.
MassChallenge Board Member and Interim General Manager Craig J. Lewis stated: "The startups that emerged from the MassChallenge project are addressing some of the most severe health and science challenges faced by North Texas and the entire United States. This follow-on investment will bring these solutions to market more quickly, and it also proves that the innovation happening in North Texas is fully capable of competing with anywhere else in the country, and even surpassing them."
To learn more about MassChallenge and explore opportunities to participate as a founder, expert, or partner, please visit masschallenge.org.
About MassChallenge
MassChallenge is a global organization that supports startups in providing solutions to complex, systemic, and critical challenges, focusing on areas with high complexity and the most difficult commercialization paths. MassChallenge was founded in Boston, Massachusetts, USA, and has offices in Texas, Israel, Switzerland, and the United Kingdom, helping startups connect with the partners, projects, and capital needed to accelerate their commercialization and achieve tangible impact. Since 2009, MassChallenge has supported over 5,000 startups, which have raised more than $27 billion in funding in total, and in the 2026 "Best Incubators and Accelerators in the U.S." rankings, it ranked second in the United States.
About Lyda Hill Philanthropies
Lyda Hill Philanthropies encompasses the charitable donations of founder Lyda Hill, including her foundation and personal philanthropic endeavors. This organization is dedicated to supporting transformative progress in the fields of science and nature, empowering non-profit organizations, and improving communities in Texas and Colorado. As Ms. Hill firmly believes that "science is the answer to many of life's most challenging questions," she has decided to donate her entire estate to charitable causes and scientific research.
