Jerusalem Venture Partners (JVP) and Microsoft Ventures today announced the establishment of an accelerator for cyber technologies. The program will operate at Microsoft Israel’s offices in Herzliya. The start-ups selected for the four-month program will receive advice and assistance from industry executives and have the use of physical infrastructures and technology for free.
The joint program will enable cyber ventures to develop products and services that offer solutions to cyber challenges faced by large enterprises and organizations worldwide. The class will have 6-8 companies. JVP Cyber Labs will participate in the selection process and guiding them. As part of the joint venture, at the end of the program, JVP will offer a $1 million investment in one of the start-ups, which can join its cyber incubator in Beersheva.
The Microsoft Ventures Accelerator Tel Aviv opened in 2012. 85% of the graduates raised an average of $1.2 million during the program or shortly afterwards. Two companies have already had exits in the past few months KitLocate Ltd. and Appixia Ltd.
Microsoft Ventures Accelerator Tel Aviv director Hanan Lavi says, “Our accelerator program leverages Microsoft’s global presence to give start-ups direct and unique access to customers and business partners. We use this power to bring start-ups to success. We’re pleased to cooperate with JVP to offer the entrepreneurs in our accelerator unique opportunities.”
JVP Cyber Labs partner Yoav Tzruya says, “My partner Dr. Nimrod Kozlovski and I will emphasize the creation of partnerships with strategic partners such as Microsoft in order to help start-ups grow innovative technology developments in cyber that meet real and important market needs.”
Published by Globes [online], Israel business news – www.globes-online.com – on May 28, 2014