MACH37 Cybersecurity Accelerator Increases Initial Investment To $50K Per Company
MACH37 created to accelerate the development of the next generation of information security product companies
Herndon, VA (PRWEB) January 28, 2014
MACH37&trade, the new cybersecurity accelerator at the Center for Innovative Technology (CIT), is announcing that beginning with the start of its upcoming cohort in March that participating companies will receive a $50,000 investment in conjunction with accelerator services. This investment doubles the previous amount of $25,000.
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Rick Gordon, MACH37&trade Managing Partner, said, "This additional financial investment will not only help Mach37 entrepreneurs attract complementary team members, but also will provide them with additional resources necessary to expand target market validation and further accelerate technology development."
MACH37&trade is an operating entity of the CIT that was created to accelerate the development of the next generation of information security product companies. The accelerator takes entrepreneurs through an intensive 90-day program to validate their ideas, technologies and markets, and ultimately launch companies that secure private investment for growth.
Upon acceptance into the program, companies receive a cash investment to complement program participation in exchange for a small amount of equity. Following completion of the program the CIT GAP Funds will match up to $100,000 for companies headquartered in Virginia. MACH37&trade companies will benefit from ongoing access to MACH37's vast network resources and support throughout the life of their enterprise.
MACH37&trade is accepting applications from information security startups and entrepreneurs for its Spring Cohort beginning March 17th. Applications may be submitted online at: https://www.mach37.com/apply. The deadline to submit is January 31.
For more information, please visit the MACH37&trade website or direct inquiries to Ledger West at ledger[dot]west[at]mach37[dot]com.
MACH37&trade is an information security startup accelerator focused on launching new product companies that will deliver the next generation of cybersecurity solutions. MACH37&trade was conceived and developed by the Center for Innovative Technology and is supported by a community of hundreds of security leaders who contribute to company development. Over 100 organizations including Lockheed Martin, In-Q-Tel, General Dynamics, Northern Virginia Technology Council, Virginia Tech, Intel, New Enterprise Associates and the Department of Defense were instrumental in developing MACH37&trade. To learn more, please visit https://www.mach37.com.
About the Center for Innovative Technology
Since 1985, CIT, a nonprofit corporation, has been Virginia's primary driver of innovation and entrepreneurship. CIT accelerates the next generation of technology and technology companies through commercialization, capital formation, market development and revenue generation services. To facilitate national innovation leadership and accelerate the rate of technology adoption, CIT creates partnerships between innovative technology start-up companies and advanced technology consumers. CIT's CAGE Code is 1UP71. To learn more, please visit http://www.cit.org. Follow CIT on Twitter @CITorg and add the Center for Innovative Technology on LinkedIn and Facebook.