Microsoft and Akamai initiates cybersecurity-focused accelerator

TEL AVIV, ISRAEL: Microsoft Corp. and Akamai Technologies, a provider of cloud services for delivering, optimizing and securing online content and business applications, have announced that, together with venture capital (VC) firm Jerusalem Venture Partners (JVP), they are working on an accelerator in the field of cybersecurity.

The program is located at the Microsoft Ventures Accelerator in Tel Aviv, and interested entrepreneurs and startups can apply. Startups accepted into the program will be announced Aug. 24, 2014, and the class will run through January 2015.

Participants will gain professional sessions and active mentoring from JVP, which will be an active participant in the startups selection process and will offer a $1 million investment in one of the cybersecurity startups at the end of program.

The participants will receive free tools, top-quality mentorship, and other resources designed to help them grow their business. Akamai is offering to invest up to $25,000 with each cybersecurity 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," said Stuart Scholly, senior vice president and general manager, security business unit, Akamai.

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 cybersecurity.