Microsoft and Akamai Technologies will work with venture capital firm Jerusalem Venture Partners to construct an accelerator in Israel that will focus on helping startup cybersecurity firms in the country.
Participants will receive professional sessions and active mentoring from JVP, who will invest in $1 million in one of the cybersecurity startups at the program’s end, Microsoft said Tuesday.
“Tech startups have the potential to shape the future of cybersecurity,” 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 and like us, Akamai is a big proponent of secure computing with a massive reach.”
Free tools, mentorship and other resources will be offered to participants in order to help them grow their business, along with a $25,000 investment from Akamai for each cybersecurity startup accepted into the program.
“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 for Akamai’s security business unit.
“And yet, the computer security landscape continues to evolve with new threats emerging every day.”
The program is located at the Microsoft Ventures Accelerator in Tel Aviv, with openings for any and all start ups accepted into the program scheduled to be announced Aug. 24.