MassChallenge Inc., the Boston nonprofit offering more than $1 million in prizes to promising start-ups, said it is teaming up with the New England-Israel Business Council to explore whether such a program can be replicated in Israel.
MassChallenge recently launched its third annual contest open to any innovative start-up that has the potential to invigorate the economy and create jobs.
This year’s prize money will total $1.1 million, and winning start-ups will participate in a three-month “accelerator program’’ that includes mentoring, free office space, access to funding, and legal advice.
On Monday, MassChallenge said it worked with the council to form a committee to create a template for the global expansion of the MassChallenge competition by exploring the creation of a MassChallenge Israel.
“Israel may be the only geography in the world with the same concentration of innovative activity as Massachusetts,’’ John Harthorne, founder and chief executive of MassChallenge, said in a statement.
The committee includes Greg Bialecki, Massachusetts secretary of housing and economic development; Adi Golani, executive director of the New England-Israel Business Council; and Harthorne.