On Thursday, Herndon, Va.-based cybersecurity business accelerator Mach37 introduced its newest cohort of startups—a six-company group which the firm hopes can ultimately mature into stable, local employers for tech and security professionals. The accelerator, backed in part by commonwealth funding and located within the Center for Innovative Technology (pictured), has now graduated 35 startups since being launched in October 2013. Mach37's intensive 90-day mentorship program helps accepted member companies develop viable go-to-market products and connects them with private investors capable of providing funding to scale operations.
Each class of Mach37 startups ranges in size from about 6 to 9 companies. The Spring 2016 class will be the 9th cohort to enter into the now nationally recognized program.
Based on research conducted by DC Inno, the organization has a proven track record of getting members funded.
In December, Mach37 attracted its first corporate/platinum sponsor: General Dynamics. The move was important because it represented the first time that this largely publicly-funded organization opened itself up to outside investment; enabling the firm to slowly wind itself off taxpayer dollars.
Mach37 portfolio companies typically receive an immediate $50,000 investment upon acceptance—a figure that can be doubled to $100,000 by the commonwealth of Virginia if the company commits to establish a local office. In return, Mach37 takes an 8 percent equity stake in each company.
Virginia Governor Terry McAuliffe has been vocal in his mission to make Virginia the "cybersecurity capital of the United States," and Mach37 acts as a state-funded catalyst to accomplish that goal.
Meet the 2016 Spring Mach37 class:
Founder(s): Quincy Acklen and Ben Gatti What they do: software to detect and stop email phishing-style attacks from damaging an organization.
Founder(s): Steve Baker, Tom Gilmore and Neil Wright What they do: a risk management platform for businesses that enables them to detect, quantify and manage operational security and hacking risks. The system essentially allows companies to test the strength of their own security within a closed, simulated environment.
Founder(s): Mohamoud Jibrell and Candan Bolukbas What they do: "Security-as-a-Service" software focused on cyber threat intelligence, vulnerability management and breach monitoring
Founder(s): Robert Walker What they do: software to scan, find and stop information security audit failures. "We build technology that makes existing security systems more effective."
Founder(s): Jon Praed and David White What they do: makers of an automated threat intelligence platform (TIP) that can "empower legal and reputational responses to threats"
Founder(s): Mancy Sanghavi What they do: mobile, car-focused cybersecurity software that can protect vehicle's internet connected systems from being hacked.
*Image Credits: via DC Inno
