IBM launches Hyper Protect Accelerator for pre-Series A start-ups
Early-stage, next generation fintechs are the target of the new accelerator program launched by IBM this week: The IBM Hyper Protect Accelerator, powered by IBM LinxuOne, reports David Penn at Finovate.
Selected companies will collaborate with IBM and its partners, IBM Alpha Zone, Queen City Fintech, and MEDICI as they work to turn their start-ups into “sustainable and scalable companies.”
A total of 15 early-stage, pre-Series A start-ups from both fintech and healthtech will be selected for the program. The application window closes at the end of July, and companies are expected to be selected in September. Later that fall, start-ups will participate in an in-person workshop event where they will have the opportunity to demo their solutions before an audience of IBM partners, customers, and investors.
IBM will provide the companies with a virtual mentorship of monthly one-on-one and quarterly all-hands check-ins for two years after completing the program. The start-ups will also benefit from a one-year business mentorship, with monthly and quarterly consultations, and the opportunity for the start-up to participate in a second in-person demo day.
Companies in the program will be able to access technical workshops from IBM, and take advantage of a 300+ member network of business mentors and technical support. Start-ups will also have access to up to $10,000 a month in IBM cloud technology credits that can be applied each month to access IBM Cloud Hyper Protect Services. Up to $120,000 in credit can be earned by start-ups by the end of the program.
IBM will leverage its LinuxONE server platform to power IBM Cloud Hyper Protect Services and provide the kind of highly secure environment necessary for fintech and healthtech companies that need to protect sensitive data in cloud native apps. The highly scalable platform will also ensure that program participants will enjoy maximum uptime and availability.
