MICROSOFT VENTURES AND JVP TEAM UP TO LAUNCH THE FIRST-EVER CYBER-SECURITY ACCELERATOR IN ISRAEL
Microsoft Ventures and Jerusalem Venture Partners (JVP) - Israel's leading venture capital firm and largest early-stage cyber-security investor -announced today they will jointly establish Microsoft Ventures' first-ever startup accelerator in the field of cyber-security.
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 in their strategy.
Six to eight startups will be accepted in this batch, with JVP Cyber Labs taking part in the startup selection process, and mentoring. JVP Cyber Labs commits to offer a $1M investment* to one of the promising startups at the end of the accelerator program, together with a place in its incubator - JVP's early stage investment vehicle dedicated to cyber-security startups located in Israel's cyber epicenter, Be'er Sheva.
The Microsoft Ventures Accelerator Tel-Aviv has operated since April 2012. 85% of its graduates raised $1.2M on average, during the program or shortly after graduation. Two graduates have also been acquired in recent months: - Kitlocate and Appixia.
Hanan Lavy, Director of Microsoft Ventures Accelerator: “Our accelerator program leverages the Microsoft worldwide footprint to give startups unparalleled routes to customers and partners. 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".
"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."
The first batch cyber-security accelerator program will take place from September, 2014 to January, 2015, in the Microsfot Ventures accelerator is Herzeliya, Israel. To apply now go to http://www.microsoftventures.com/accelerators/telaviv.
About Jerusalem Venture Partners:
Jerusalem Venture Partners (JVP) is a leading Israeli venture capital firm dedicated to building world class technology companies. JVP has raised close to a billion dollars across nine funds since it was established in 1993 and was recently ranked one of the top-10 consistently performing VC funds worldwide by Preqin. The fund has invested in over 100 companies to date and has been instrumental in leading 26 of the largest exits out of Israel. JVP invests in innovative companies in the areas of digital media and storage. JVP is also one of Israel's leading venture capital firms focusing on cyber-security investments, having built up such cyber-security companies as CyberArk, Navajo (acquired by SalesForce), Magnifire (acquired by F5 Networks), ThetaRay and NativeFlow. JVP operates two incubators under the State of Israel's incubator program, in the areas of media and storage as well as cyber-security and big data.
About JVP Cyber Labs
JVP Cyber Labs is Jerusalem Venture Partners’ (JVP) early stage investment vehicle aimed at identifying, nurturing and building the next wave of cyber-security and big data companies to emerge from Israel. JVP Cyber Labs focuses on cyber-security, enterprise security and data protection. JVP Cyber Labs is strategically based in the epicenter of the Israeli cyber innovation - bringing together academia, multinational corporations and experts with experience from the military’s elite computer units at the forefront of cyber innovation. The incubator is headed by a seasoned team of partners with deep industry expertise and a strong track record of developing and building early-stage companies. The JVP Cyber Labs team is currently looking for companies in various themes, including APT detection and prevention, mobile, Cloud Security, Authentication & Identification, Industrial Internet, M2M, Big-data analytics, End-point security and more. www.jvpvc.com/cyberlabs
About Microsoft Ventures
Microsoft Ventures is a global initiative to help entrepreneurs build great companies. Working with startups at every stage of maturity, the initiative provides the tools, resources, and expertise startups need to succeed. Visit Microsoft Ventures at www.microsoftventures.com to learn more about how Microsoft is helping the next generation of smart companies take flight.
Founded in 1975, Microsoft (NASDAQ “MSFT”) is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.
* The investment amount may include grants from the Office of the Israeli Chief Scientist of the Ministry of Economy ("OCS") and shall be subject to, among other things, execution of a binding agreement on terms to be mutually negotiated and agreed upon and further subject to the Israel Government Incubator Program rules (to the extent applicable), approval of JVP investment committees and satisfactory due diligence by JVP Cyber Labs.