Deadline: May 15, 2021
Applications are open for the IBM Hyper Protect Accelerator 2021. The IBM Hyper Protect Accelerator is an investment-readiness and technical mentorship program, run in partnership with Village Capital and IBM. The program supports impact-focused startups leveraging highly sensitive data to improve the quality of, and access to digital, financial and healthcare services.
This year the program will expand to support more companies working on impactful datatech products. The 2021 program will consist of three components:
- The IBM Hyper Protect Accelerator (15 companies): 2 years of technical mentorship from IBM (including up to $120,000 of free IBM cloud credits) & a 3 month intensive Village Capital Investment Readiness Accelerator with bespoke mentor and investor matching.
- Friends of Hyper Protect (40 companies): 2 years of quarterly technical mentorship from IBM (including up to $120,000 of free IBM cloud credits) & a 3-month Investment Readiness support fromVillage Capital focusing on milestone planning and investor matchmaking.
- The Datatech for Good Coalition: A coalition on Village Capital’s Abaca platform that matches datatech for good startups with like-minded investors and peers.
Problem Statemment
Every 39 seconds, a hacker attempts to steal personal information from people and businesses around the world. As the world adapts to a post-pandemic paradigm and financial, insurance, and health services are increasingly offered online, it is more important than ever for businesses to keep their data secure, especially when they are collecting, storing, or transmitting personally identifiable information like medical financial, or insurance records.
At the core of most data-driven health and financial technology is customers’ personally identifiable information, which, according to ForgeRock, accounted for 98% of all data breached in 2019. The two most targeted industries, healthcare and banking/financial, accounted for 55% of all data breaches. As work and life increasingly moves online due to the COVID-19 pandemic, the risk of companies compromising sensitive data increases, and regulators are responding with new restrictions. It’s not just about adhering to regulatory requirements, it’s also about doing the right thing.
This accelerator aims to support early-stage companies that leverage sensitive data to improve and increase access to global health and financial services, in a time with increasing risk and regulation. This year they are increasing the scale of their support with the Friends of Hyperprotect Program and the Datatech for Good Coalition. By working with these startups alongside closely aligned investors and mentors they hope to build a highly connected, global and impactful ecosystem within the nascent but growing datatech for good space.
Benefits
- Each startup will receive IBM Cloud credits of up to $120,000
- Participate in 40+ hours of virtual technical and business mentorship, investment milestone planning, and
- Access to IBM and Village Capital’s network of partners, investors, stakeholders and mentors.
Eligibility
To be eligible, you must be:
- Legally incorporated as a for-profit entity.
- Using personally identifiable information to increase access to digital, financial, or healthcare services.
- Under $1 million in yearly revenue.
- Less than 5 years old.
- Have some traction (this is not limited to revenue, but can include successful pilot studies, number of users, and/or strategic partnerships).
- Have positive social impact.
- Be able to commit to attendance of a founder/member of exec team (~40 hours total between October and December 2021, 3 hour sessions).
- Companies eligible for Friends of Hyperprotect must meet all but one of the eligibility criteria for the full accelerator program (see above). For example, the sessions may be relevant to companies that do not yet have a proven impact thesis, cannot commit to the full 40+ hours, or have less proven traction.
- All applicants are eligible for the Datatech for Good coalition as long as they are:
- Legally incorporated as a for-profit entity.
- Using personally identifiable information to increase access to digital, financial, or healthcare services.
Application
For more information, visit IBM Hyper Protect Accelerator.
