New Cybersecurity Fund Announced for MACH37

December 9, 2015

9:00 am

In the quest to be the cybersecurity capital of the world, Virginia Governor Terry McAuliffe has announced a new source of funding as a result of a public-private partnership. With a goal of creating new jobs and increasing revenue, the fund is to be led by General Dynamics Mission Systems and housed at the MACH37 Cyber Accelerator.

The accelerator continues to drive hyper targeted startups through their program to create new cybersecurity focused organizations in northern Virginia. MACH37’s accelerator both mentors and provides a source of funding for the startups in their accelerator program.

“Cultivation of the next generation of cybersecurity, products, and services is key to the continued development of the new Virginia economy,” said Governor McAuliffe. “Today’s announcement shows that government can leverage the capital and intellectual assets of the private sector for development of innovative new companies and jobs. We are grateful to General Dynamics Mission Systems for their support of targeted economic development in our Commonwealth.”

MACH37’s Cyber Accelerator program has a similar approach to that of DC’s 1776. They have a specific focus, cyber security, with a sublayer focusing on university, industry, and government cybersecurity assets and turning them into relevant products and companies.

“The MACH37 Cyber Accelerator is a prime example of how we are fostering growth by attracting the best talent in the world to Virginia,” said Virginia Secretary of Technology Karen R. Jackson. “Growth in the cybersecurity sector is valuable to Virginians for many reasons, so I’m particularly proud that the Commonwealth has become known globally as a premier location for cyber security innovation.”

Housed in the Center for Innovative Technology (CIT), also known as the odd looking building off of the Dulles Toll Road. Although MACH37 already had an initial source of funding, occasionally through partnerships such as this one it allows companies to be directly involved in the accelerator program.

“MACH37 gives us access to Virginia’s smartest minds and technologies, accelerating the delivery of cybersecurity products and solutions that our customers need, when they need it,” said Nadia Short, vice president and general manager of the Cyber Systems line of business for General Dynamics Mission Systems.

MACH37’s accelerator program is currently accepting applications for their next cohort, set for Spring of 2016 in mid-March.

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Elliot is an award winning journalist deeply ingrained in the startup world and is often digging into emerging technology and data. When not writing, he's likely either running or training for a triathlon. You can contact him by email at elliot(@) or follow him on Twitter @thejournalizer.

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