I didn’t see any tears, but the emotion was undeniable. Mach 37 has graduated its first start-ups. For those not familiar with the organization, Mach 37 is the Center for Innovative Technology’s (CIT) cyber security accelerator. Four companies presented at Demo Day, having spent the previous 90 days in an intense program designed to help them polish their business plan, present a clear value proposition, and, most importantly, get funded.
More than a few local venture capital luminaries showed at CIT’s Herndon headquarters (perhaps those of you in the DC area have wondered about their building—the slightly askew, inverted pyramid, just off to the side when you fly into Dulles).Tech accelerators have become all the rage of late, garnering much in the way of press but perhaps not so much in terms of actual exits.
Virginia’s goal to brand itself a “Cyber Hot Spot” seems to be working. The recent frothy, 1998-esque $1B acquisition of Mandiant by FireEye* is but the latest example of a thriving deal environment. Billions, it seems, are being spent to keep villainous hackers out of your credit card account—and so far, with only limited success. No doubt one reason FireEye, to the applause of Wall Street, paid an astounding 10X revenue for its acquisition.
Today’s post pic is from PRWebb.com.