New accelerator countering cyber attacks by growing new companies
The Center for Innovative Technology announced today that after 16 months in operation, its MACH37™ Cyber Accelerator has launched 17 new cyber security companies. MACH37™ opened its doors in September 2013, has hosted three separate cohort sessions and attracted over 300 investors to its Demo Days.
Pete Jobse, CIT President and CEO and MACH37™ Executive Chairman, said, “MACH37 has created a unique public-private program that brings together domain experts, successful cybersecurity entrepreneurs, and investors familiar to the security market to create a platform that enables next generation technology to be deployed more rapidly. By leveraging these assets, we have helped launch the next generation of cybersecurity companies that will be on the frontlines of emerging cyber attacks.”
The MACH37™ program consists of an intense 90-day program in which the selected startups are mentored in all aspects of creating a sustainable and successful business. Participants receive a $50,000 investment to develop and launch their ideas into emerging, investable companies. By drawing on MACH37’s large network of experts and entrepreneurs, startups are guided toward creating successful companies that can take a strategic market position. MACH37 helps companies test their ideas and products before taking them to market.
Virginia Delegate Tag Greason, who sponsored legislation creating the new accelerator, said, “The MACH37 program is a perfect example of a public-private partnership that is addressing an enormous challenge by providing assistance to startups looking to compete in today’s markets. This program is creating and grooming the promising new companies that will help successfully transition the Commonwealth towards the new Virginia economy.”
Following the completion of each of the 90-day sessions, MACH37 hosts a Demo Day where participating companies pitch to audiences of accredited investors from top-tier venture capital firms, leading edge technology companies and angel groups from the Washington, D.C. region, as well as California, Massachusetts and Georgia. The most recent Demo Day earlier this month drew 186 investors.
“At MACH37, we look for companies who are developing innovative approaches to thwart some of the most prevalent problems in cybersecurity,” commented Rick Gordon, Managing Partner of MACH37™. “The 17 companies who have graduated our program in the past year are an exceptional representation of the diverse range of talent that is nationally attracted to MACH37.”
The application period for the upcoming MACH37™ Spring 2015 (S15) Cohort is now open. Entrepreneurs with emerging products and companies are encouraged to apply by visiting www.mach37.com and filling out the online application. The program is open to startups from any geography whose founders are ready to engage in a rigorous mentorship program designed to produce the next generation of leading security product companies.