IBM launches first-ever start-up accelerator - in IsraelApr. 26, 2014
IBM Corporation is joining the wave of technology incubator programs with the launch of its first-ever start-up accelerator in Israel. The company says that it has begun the preliminary selection of entrepreneurs and companies for the program's first class. The program was established in cooperation with ZionTech Blue Initiatives LLC, an American boutique investment house founded by general partner Nathan Low.
The accelerator, IBM Alpha Zone Accelerator, will provide a 24-week immersion program in which participating ventures will have free use of IBM's development tools, cloud infrastructures up to a value $24,000, and access to consultancy services and knowhow of IBM technology staff, researchers and developers around the world. Alpha Zone is based in IBM Israel's premises in Petah Tikva, as part of the IBM Global Technology Unit.
Alpha Zone's first class will begin in July. The program will network entrepreneurs with venture capitalists, assist in presenting proposals to the Office of the Chief Scientist, and arrange meetings with advisers in the industry, such as Bank Hapoalim, Office of the Chief Scientist, and Ernst & Young.
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