Mach37 program doubles its investment in participating companies
- January 29, 2014
Mach37, a cybersecurity accelerator at the Herndon-based Center for Innovative Technology, will double the investment made in companies participating in the program.
Companies starting the program in March will receive $50,000, up from $25,000 previously.
“This additional financial investment will not only help Mach37 entrepreneurs attract complementary team members, but also will provide them with additional resources necessary to expand target market validation and further accelerate technology development,” Rick Gordon, the managing partner of Mach37, said in a statement.
Mach37 was created to accelerate the development of information security product companies.
The intensive 90-day program helps entrepreneurs validate their ideas, technologies and markets, and ultimately launch their companies.
Upon acceptance into the program, companies receive a cash investment to complement program participation in exchange for a small amount of equity.
After completion, the CIT GAP Funds will match up to $100,000 for companies based in Virginia.
Mach37 is accepting applications from information security startups and entrepreneurs for its Spring Cohort beginning March 17.
Applications may be submitted online at: https://www.mach37.com/apply.The deadline to submit is Jan. 31.