Mo Cowan to become MassChallenge's first board chair

Why it matters: MassChallenge is an institution within the state's startup ecosystem, helping entrepreneurs turn prototypes and ideas into groundbreaking drugs, fintech apps, renewable energy systems and more.

• With Cowan leading the board, the organization has one of the city's most well-connected business and political leaders working to advance its efforts to develop startups in cleantech, fintech and health care.

What to know: Cowan led the government affairs consulting group ML Strategies, counseled the law firm Mintz Levin and worked for General Electric before joining Devoted Health in October.

• He first joined the MassChallenge board two years ago.
• He told Axios in an interview that the board is focusing on ensuring Brumme and the team have the resources they need to help startups develop.

Of note: Cowan takes over at a time when MassChallenge has expanded its footprint to work with startups not only in Massachusetts, but also in Israel and Switzerland.

What makes a great startup? Cowan said he's personally drawn to companies tackling systemic, structural problems that have gone unaddressed.

• One example is Goldfinch Bio, a biotech company that's working on new treatments for kidney disease, which he notes has disproportionately affected Black patients and received less medical and research funding than other diseases.
• "I love the fact that Goldfinch is leaning hard into developing therapeutics as an alternative means for addressing kidney disease, kidney care," he said. "As important as dialysis is, we need alternatives so that people live longer, healthier lives."