Microsoft and Akamai Join Forces in First Cyber-Security Focused Accelerator in Israel
The partnership strengthens the existing collaboration between Microsoft and Jerusalem Ventures Partners (JVP)
TEL AVIV, Israel – July 29, 2014 – Microsoft and Akamai Technologies (NASDAQ: AKAM), a leading provider of cloud services for delivering, optimizing and securing online content and business applications, have announced that, together with leading VC Jerusalem Venture Partners (JVP), they are working together on the unique accelerator in the field of cyber-security. The program is located at the Microsoft Ventures Accelerator in Israel, and interested entrepreneurs and startups can apply now at http://www.microsoftventures.com/accelerators/telaviv. Startups accepted into the program will be announced on September 7, 2014, and the class will run through January 2015.
“Tech startups have the potential to shape the future of cyber security,” said Zack Weisfeld, Head of Microsoft Ventures Europe. “Akamai is the perfect partner to join Microsoft in delivering unparalleled access and value to startups joining the accelerator. Like us, Akamai is a big proponent of secure computing with a massive reach. We are eager to partner with Akamai to spur the success of cyber-security innovation based on our respective insights and learnings gained over the years.”
This collaboration strengthens Microsoft’s already solid partnership announced with the leading VC – JVP. Participants will gain professional sessions and active mentoring from JVP, which will be an active participant in startups selection process and will offer a $1 million investment in one of the cyber security startups at the end of program.
The participants will also receive free tools, top-quality mentorship, and other resources designed to help them successfully grow their business. In addition to making available its respected web-security expertise, Akamai is offering to invest up to $25,000 with each cyber-security startup accepted into the program through the purchase of convertible notes. Mentoring and introductions to relevant partners and customers will also be offered.
“Akamai’s globally distributed computing platform was designed from day one to be as safe and secure as possible, and we have continued to make investments in this area,” explained Stuart Scholly, senior vice president and general manager, Security Business Unit, Akamai. “And yet, the computer security landscape continues to evolve with new threats emerging every day. We believe that supporting security innovation, not only at Akamai, but also through promising entrepreneurs, is of true benefit to our customers and any company doing business on the Internet.”
Microsoft’s collaboration with Akamai and JVP is intended to provide startups with mentorship and market expertise that can help them accelerate their business and create breakthroughs in cyber-security.
Akamai® is the leading provider of cloud services for delivering, optimizing and securing online content and business applications. At the core of the Company’s solutions is the Akamai Intelligent Platform™ providing extensive reach, coupled with first class reliability, security, visibility and expertise. Akamai removes the complexities of connecting the increasingly mobile world, supporting 24/7 consumer demand, and enabling enterprises to securely leverage the cloud. To learn more about how Akamai is accelerating the pace of innovation in a hyperconnected world, please visit www.akamai.com or blogs.akamai.com, and follow @Akamai on Twitter.
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 tools, resources and expertise to help startups 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.
About Jerusalem Venture Partners:
Jerusalem Venture Partners (JVP) is a leading Israeli venture capital firm dedicated to building world class companies. With a 20 year track record spanning over a hundred investments, JVP is also viewed as Israel’s largest early stage cyber security investor having built up such companies as CyberArk Software, Navajo Systems (acquired by SalesForce), Magnifire (acquired by F5 Networks), as well as numerous originating from the firms JVP Cyber Labs, the first cyber security incubator in Israel.