Akamai Technologies, Microsoft and Israeli venture capital firm Jerusalem Venture Partners team up to launch a startup accelerator program specifically focused on the field of cyber security. Six startups, mostly headquartered in Israel, will be chosen to participate in the accelerator program which will run from September through January 2015 and will include mentorship, access to workspace and free software tools and funding.
Startups accepted into the program will be announced Aug. 24, 2014, and the class will run through January 2015. The program will be located at the Microsoft Ventures Accelerator in Israel, where Akamai also has a large research and development team. Akamai has offered to invest up to $25,000 in debt funding for each startup. One of the startups will receive a $1 million investment at the end of the program.
Innovating in the field of cyber security is crucial to combat threats against companies and consumers, which is why Akamai joined forces with Microsoft to host the program, said Seksom Suriyapa, senior vice president for corporate and business development for Akamai. “The nature of cyber security is that it never slows down. A lot of it is driven by both criminal activity as well as state-sponsored cyber security threats,” he said in an interview.
That’s why accelerator programs like this one are important, he said. “The thing you can do to keep up is to invest more and more and put your resources into understanding what are the new types of challenges,” he said. “It’s a race between the two sides.”
Zack Weisfeld, head of Microsoft Ventures Europe mentioned in the official announcement, Tech startups have the potential to shape the future of cybersecurity. Like us, Akamai is a big proponent of secure computing with a massive reach. Our partnership will spur the success of cybersecurity innovation based on our respective insights and learnings gained over the years.
To apply check out http://www.microsoftventures.com/accelerators/telaviv