On Thursday, June 6, The Center for Innovative Technology (CIT) announced that MACH37™, America’s first market-centric cybersecurity accelerator, is now taking applications for its inaugural 90-day session, which will start on September 16. Initially funded by the Commonwealth of Virginia, the accelerator will leverage private investments to launch new, high growth cyber technology companies in Virginia. Funding to launch the accelerator was a top NVTC priority during the 2013 legislative session.
The MACH37™ Cyber Accelerator models successful practices used in existing accelerators, such as the Y Combinator, TechStars and 500 Startups. It takes candidates, or cohort companies, through an intensive three-month program that transforms innovative cybersecurity product ideas into validated, investment-grade early-stage companies positioned to be the next generation of cybersecurity providers.
For early-stage companies and entrepreneurs, MACH37™ provides strong development opportunities through access to an extensive network of cybersecurity professionals, investors and early technology adopters who are committed to improving cyber defense and security through innovation. Cohort companies will receive $25,000 of initial equity funding when they are accepted into the program.
Upon program completion and a successful Demo Day presentation, where candidates pitch their company ideas to investors, selected accelerator companies may qualify to receive up to $200,000 of additional investment from the MACH37™ fund, as well as support in attracting funds from MACH37™’s nationwide investor network. MACH37™ companies will benefit from ongoing access to MACH37™ network resources and growth support throughout the life of their enterprise.
In backing the launch on April 11, NVTC President and CEO Bobbie Kilberg previously made the following statement on behalf of NVTC and its membership:
“Cybersecurity is widely recognized by policymakers and industry leaders as crucial to safeguarding our national security and protecting the nation’s economy. MACH37™ will foster Virginia’s global leadership in cybersecurity by cultivating and accelerating the development of innovative technology solutions that can be deployed in new and existing client markets,” said Kilberg. “NVTC is excited to support MACH37™, which will be an important component of the growing cybersecurity sector in the Commonwealth.”
Acceptance into the MACH37™ Cybersecurity Accelerator is highly competitive, with only 10-12 companies admitted to each of the two sessions per year. Interested candidates can apply online at www.mach37.com. For more information, please email email@example.com.