US-based cybersecurity company Symantec joined forces with incubator Frost Data Capital on Wednesday, forming a partnership to create and seed startups developing cybersecurity technology.
Symantec and Frost will focus on cybersecurity analytics, big data and internet of things. Initially, up to 10 startups will be selected, but the two partners hope to welcome a new cohort every year.
Details on when the programme will begin or when the startups are expected to graduate have not yet been revealed.
The selected startups will receive an undisclosed amount of funding, as well as access to Frost Data’s data analytics resources and mentorship from experienced entrepreneurs.
Jeff Scheel, senior vice president of strategy, alliances and corporate development at Symantec, said: “We are taking a fresh look at driving innovation in the market and this partnership will enable Symantec to transform raw ideas and concepts into meaningful security companies.
“By collaborating with Frost Data Capital, we create an environment primed to incubate new, innovative and disruptive startups in cybersecurity – especially in the realm of internet of things technologies where verticals like process control, automotive, healthcare and energy require specialised skills.”