IBM, an Armonk, NY-based informational technology company, as per recent reports last week, has announced a new accelerator program – The IBM Hyper Protect Accelerator, powered by IBM LinuxOne – targeting early-stage, next-gen fintech startups.
As part of this new accelerator program, selected startups in collaboration with IBM and its partners – IBM Alpha Zone, Queen City Fintech, & MEDICI – will work on transforming themselves into “sustainable and scalable companies.”
IBM, in total, will shortlist 15 early-stage, pre-Series A start-ups from both the fintech and healthtech fields for its new accelerator program. Startups can apply for this opportunity, the registration window closes at the end of Jul. 2019, and shortlisted startups are expected to be announced in Sep. 2019. Following that, later in the fall of 2019, these selected start-ups, by participating in an in-person workshop, will demonstrate their solutions before an audience of IBM partners, customers, and investors.
After the completion of this program, IBM’s virtual mentorship of monthly one-on-one and quarterly all-hands check-ins will benefit companies for two years. Furthermore, the start-ups will also have access to one-year business mentorship, with monthly and quarterly consultations, along with the opportunity to participate in a second in-person demo day.
Enrolled companies in the program, by accessing IBM’s technical workshops, can also take advantage of a 300+ member network of business mentors and technical support. In addition, start-ups can also access up to $10,000 monthly credits in IBM cloud technology that can be used monthly to access the IBM Cloud Hyper Protect Services. Startups can earn up to $120,000 in credits by the end of the program.