IBM has launched a program to help technology startups developing applications that run within the IBM ecosystem in a move that echoes peer Microsoft by offering entrepreneurs support and services rather than investing for equity in the start-up.
Under the Global Entrepreneur initiative, IBM is offering startups, particularly those building software for vertical industries, free use of cloud-based IBM software, the opportunity to work with IBM’s 3,000 scientists and access to IBM’s DeveloperWorks social networking community portal for eight million people, including its SmartCamp mentoring and networking workshops.
Drew Clark, director of strategy for the IBM Venture Capital Group, said to news service ChannelWeb: "We’re looking for the next set of great applications."
Claudia Fan Munce, vice president of corporate strategy and managing director of the IBM Venture Capital Group, told website Turbotodd: "Businesses around the world are increasingly applying new technologies to address industry-specific needs, and technology start-ups are looking for new ways to capitalize on this trend," she said. "IBM’s goal is to help entrepreneurs gain the skills they need to bring new ideas to market faster using IBM technology to accelerate industry transformation and fuel innovation."
The company is working with 22 industry and technology associations to identify candidates for the new program, including the Mass Tech Leadership Council, SD Forum and TiE Silicon Valley in the U.S.; the National Consortium of University Entrepreneurs in the UK; the India Angel Network and the Israeli Venture Association.