Virginia Launches Cybersecurity Startup Accelerator MACH37
Governor Bob McDonnell of Virginia announced on Thursday the launch of MACH37, a cybersecurity startup accelerator
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Governor Bob McDonnell of Virginia announced on Thursday the launch of MACH37, a cybersecurity startup accelerator to be located at the Center of Innovative Technology.
The accelerator will be initially funded by the Commonwealth of Virginia, and will leverage private investments to launch new cyber technology companies in Virginia.
Virginia has a strong Internet infrastructure, with lots of data centers and web hosts that provide services to some of Alexa's top one million sites.
"Cybersecurity must remain at the top of our nation's priorities to ensure our national defense and protect economic infrastructure," Governor McDonnell said. "This accelerator is a natural complement to the Commonwealth's vast advanced technical and engineering resources focused on operating the most sophisticated electronic networks in the world ."
The launch of MACH37 comes as the House Intelligence Committee met behind closed doors this week to pass the Cyber Intelligence Sharing and Protection Act , with many privacy provisions missing from the approved bill. Both government initiatives reflect a push for investment in cybersecurity to protect US infrastructure.
MACH 37 borrows its business model from other popular startup accelerators, including Y Combinator, TechStars and 500 Startups, but with a focus on cybersecurity startups
hermes belt. MACH37 has a network of hundreds of cybersecurity experts to support the early stages of company development, according to the announcement.
Statesponsored cybersecurity accelerators show a market demand for services that support improved security online , and web hosts could view this as a chance to reevaluate their own security offerings to ensure they are providing customers with the most technologicallyadvanced security options .
Hostingfocused investment firm Runa Capital has seen success in backing security companies including StopTheHacker
toms shoes.
The new accelerator in Virginia will conduct two 90day sessions per year , hosting 810 companies per session . At the completion of the session , after receiving mentorship from cybersecurity professionals and investors , the startups will make presentations to investors at the MACH37 Demo Day. Participants will receive an initial company investment upon acceptance and a second investment after a successful demo day presentation .
"The active ingredient that enables the accelerator to reduce startup development time is CIT sophisticated network of cyber experts, technologists and investors that will be integrated with entrepreneurs from the start of the 90day session and throughout their early years of company formation, Jim Duffey, Virginia's Secretary of Technology said in a statement .
Applications for the MACH37 accelerator will open in June 2013, with the first session to kick off in September 2013.
Talk back: What do you think of the launch of the MACH37 cybersecurity startup accelerator in Virginia ? Do you think it's a good idea to create a niche startup accelerator that focuses on one market? Let us know in comment.Related：
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