Herndon, VA (PRWEB) January 16, 2014
MACH37™, the new cybersecurity accelerator at the Center for Innovative Technology (CIT), held its first Demo Day where ten startups pitched to over 100 investors. Four startups were graduates of MACH37™, the Nation’s first public-private information security accelerator. A second track showcased later stage cybersecurity companies from the CIT GAP Funds portfolio.
The four cohort company graduates from the first session are Conatix, Key Cybersecurity, Pierce Global Threat Intelligence and Sikernes Risk Management. Presenting companies from CIT GAP Funds were Power Fingerprinting, SpydrSafe, Kaprica Security, Mobile System 7, Invincea and Distil Networks. Investors attending represented the top-tier venture capital firms, leading edge technology companies and angel groups from the east coast.
Rick Gordon, MACH37™ Managing Partner, said, “We are proud of the success of these first graduates. They are experienced entrepreneurs building innovative startups that represent the most contemporary thinking in cybersecurity solutions.”
MACH37™ is an operating entity of the CIT that was created to accelerate the development of the next generation of information security product companies. The accelerator takes entrepreneurs through an intensive 90-day program to validate their ideas, technologies and markets, and ultimately launch companies that secure private investment for growth.
Upon acceptance into the program, companies receive a cash investment to complement program participation in exchange for a small amount of equity. Following completion of the program, the CIT GAP Funds will match up to $100,000 for companies with a significant presence in Virginia. MACH37™ companies will benefit from ongoing access to MACH37™’s vast network resources and support throughout the life of their enterprise.
CIT President and CEO Pete Jobse credited the density of cyber security professionals in Virginia for the strength of MACH37™’s pipeline and support network. “As we have seen recently, cybersecurity intrusions are more sophisticated and prevalent and as the threats grow so, too, do the opportunities to build companies that address these challenges. The depth of the target market and security technology expertise in the MACH37™ community delivers significant value for participating entrepreneurs and investors while reducing risk for the early adopters of these technologies,” Jobse said.
MACH37™ is accepting applications from information security startups and entrepreneurs for its Spring Cohort beginning March 17th. Applications may be submitted online at: https://www.mach37.com/apply. The deadline to submit is January 31.
MACH37™ is looking for candidates that:
- Are building a disruptive information security technology product
- Have the will and endurance to turn their labor into commercial success
- Need help with startup capital, introductions, and navigating pitfalls
- Are seeking rapid growth through venture capital
- Are willing to be in VA for the entire 90 day program and commit to the venture full time
- Are ideally comprised of a team of 2-4
According to MACH37™’s Gordon, "Entrepreneur interest in the Spring 2014 cohort has already significantly outpaced the Fall 2013 session. We look forward to announcing the first acceptances within the next few weeks."
For more information, please visit the MACH37™ website or direct inquiries to ledger[dot]west[at]mach37[dot]com.
MACH37™ is an information security startup accelerator focused on launching new product companies that will deliver the next generation of cybersecurity solutions. MACH37™ was conceived and developed by the Center for Innovative Technology and is supported by a community of hundreds of security leaders who contribute to company development. Over 100 organizations including Lockheed Martin, In-Q-Tel, General Dynamics, Northern Virginia Technology Council, Virginia Tech, Intel, New Enterprise Associates and the Department of Defense were instrumental in developing MACH37™. To learn more, please visit https://www.mach37.com.
About CIT GAP Funds
CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia. CIT GAP Funds investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel consists of leading regional entrepreneurs, angel and strategic investors, and venture capital firms such as: New Enterprise Associates, Grotech Ventures, Valhalla Partners, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Clinic, Johnson & Johnson, General Electric and Alpha Natural Resources.
About the Center for Innovative Technology
Since 1985, CIT, a nonprofit corporation, has been Virginia’s primary driver of innovation and entrepreneurship. CIT accelerates the next generation of technology and technology companies through commercialization, capital formation, market development and revenue generation services. To facilitate national innovation leadership and accelerate the rate of technology adoption, CIT creates partnerships between innovative technology start-up companies and advanced technology consumers. CIT’s CAGE Code is 1UP71. To learn more, please visit http://www.cit.org. Follow CIT on Twitter @CITorg and add the Center for Innovative Technology on LinkedIn and Facebook.