Intel Capital, the corporate venturing unit of semiconductor maker Intel, welcomed eight startups to the first cohort of its Intel Education Accelerator, a four-month, education technology-focused programme, on Monday.
The accelerator will invest up to $100,000 in each startup and assist with technology development, in addition to providing access to business mentors and education experts through Intel’s global network. The startups were selected out of some 200 applicants.
The initial selection includes WriteReader, a platform that aims to increase literacy levels by enabling children to share their own stories, and Echelon Creative, the developer of an app that replaces words in text messages with synonyms to increase vocabulary.
Intel announced the admissions at the same time as a partnership with Georgia Institute of Technology through which it will invest $5m over the next five years to support the institution’s existing scholarships, mentoring and research opportunities.
Intel and the university hope that the initiative will lead to more women and minorities choosing and graduating with degrees in computer science and engineering degrees, and aims to offer these resources to some 1,000 underrepresented minority students.