Citrix Systems, a US-listed virtual computing company, has started a Silicon Valley-based seed investment fund targeting early-stage companies worldwide.
The multi-million dollar Citrix Startup Accelerator will invest in technologies or business models that can extend the Citrix virtual computing solution portfolio and those where anyone can work and play from anywhere on any device.
Martin Duursma, vice-president of Citrix Labs and chair of the Citrix chief technology office, will lead the Accelerator. He said: "The Citrix Startup Accelerator places us at the forefront of industry trends balancing internal and external innovation. We expect our seed investments and entrepreneur-friendly environment to help spur new technologies of strategic importance to Citrix, our customers, and our ecosystem."
Citrix has previously invested in or bought Kaviza, NetScaler and XenSource in California.
Each year, up to 12 companies will join the initiative for up to 18 months and receive up to $400,000 each. Participating companies need not be based in the Silicon Valley but will be encouraged to take up residence at the Accelerator facilities.
Applications: http://www.citrix.com/startupaccelerator.