Microsoft Ventures has chosen Israel to be the location of its first startup accelerator dedicated to cyber security.
In a joint venture with Jerusalem Venture Partners (JVP), the accelerator's 4-month program will provide startups with mentorship and market expertise from leading industry executives, free tools and everything necessary to help accelerate their business and create breakthroughs in cyber technology and services. The joint program will focus on enabling cyber-security startups to create products and services providing solutions to the world’s most pressing cyber-security threats. Through the accelerator process, companies will take a significant leap into validating their value proposition and honing their strategy.
"We are thrilled to collaborate with Microsoft Ventures on this first-of-its-kind initiative,” said Yoav Tzruya, partner at JVP Cyber Labs. “Together with my partner, at the JVP Cyber Labs, Nimrod Kozlovski, we put special emphasis on working with strategic partners, such as Microsoft, to get market validation for the significant innovations we are witnessing in the cyber-security space. It is our top priority to create an ecosystem which nurtures entrepreneurs and startups independently of our portfolio. We are committed to offering a $1M investment and a spot in our Be'er Sheva incubator to at least one of the startups in this batch of the Microsoft Accelerator to develop their innovation and reach the beta phase."
Six to eight startups will be accepted in this first batch, with JVP Cyber Labs taking part in the startup selection process, and mentoring. JVP Cyber Labs has committed to offering a $1M investment to one of the most promising startups at the end of the accelerator program. The investment will come together with the place in JVP's incubator in Be'er Sheva.
“Our accelerator program leverages the Microsoft worldwide footprint to give startups unparalleled routes to customers and partners," said Hanan Lavy, Director of Microsoft Ventures Accelerator. "We use this power to push startups to their success. We are eager to work closely with JVP to provide unique opportunities for entrepreneurs in our accelerator".
The first batch for the cyber-security accelerator program will take place from September, 2014 to January, 2015, in the Microsoft Ventures accelerator in Herzeliya, Israel. Companies thinking of applying should click here to find out more.