The IBM Hyper Protect Accelerator 2022 is now accepting applications. The IBM Hyper Protect Accelerator, a program that combines technical mentorship and investment readiness, is partnered with Village Capital and IBM. This program supports impact-focused startups that use sensitive data to enhance the quality and accessibility of digital financial and healthcare services.
The program will be expanded to help more companies develop data tech products. This article will discuss how to use IBM Hyper Protect Accelerator 2022.
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About Hyper Protect Accelerator 2022
IBM Hyper Protect Accelerator, a program that combines investment readiness and technical mentorship, is partnered with Village Capital and IBM.
This program supports startups focused on impact and uses sensor data to enhance the quality and accessibility of digital financial and healthcare services.
The IBM Hyper Protect Accelerator already supports 45 startups in early stages around the globe and is now accepting applications for Cohort 4. Neither IBM nor Village Capital will take equity in your company as part of this program.
Hackers attempt to steal personal data from businesses and individuals around the globe every 39 seconds. Businesses must ensure that their data is secure as the world adjusts to a post-pandemic environment. Online services for financial, insurance and health are becoming more popular.
Customers’ personally identifiable data is at the heart of data-driven financial and health technology. According to ForgeRock, 98% of all data breaches in 2019 were caused by customers’ personal information. 55% of data breaches were in the two most targeted industries: healthcare and banking/financial.
Due to the COVID-19 pandemic and the increasing use of the internet for work and personal life, there is a greater risk that companies may compromise sensitive data. Regulators are responding by imposing new restrictions. It’s more than just adhering to regulations. It’s about doing the right things.
This accelerator supports early-stage companies that use sensitive data to improve access to financial and health services worldwide. It does this in an era of increasing regulation and risk. We hope to create a connected, global, and impactful ecosystem in the rapidly growing space of data tech for good by working with these startups and closely aligned mentors and investors.
Hyper Protect Accelerator Benefits
- IBM grants selected startups $120,000 in technology credits over the first year of its accelerator program. This credit can be used to enable confidential computing so that startups can protect sensitive client information via IBM’s flagship offering, IBM Cloud Hyperprotect Services.
- Hyper Protect lets our startups keep their most sensitive data private, secure, protected, and compliant with regulatory requirements. Startups can use the technology credits to purchase IBM’s more comprehensive products and services. This includes machine learning and artificial intelligence, and Blockchain.
- Select startups can access hands-on technical experts, cloud solution architects, and a professional network. Village Capital provides a curated curriculum that is specifically tailored for early-stage entrepreneurs. It covers pitching, value proposition, business model, investment readiness, and pitch deck.
Eligibility of Hyper Protect Accelerator
This accelerator is ideal for those who are responsible for managing sensitive data. You must be:
- Legally incorporated as a for-profit entity.
- To increase access to digital, healthcare, and financial services, it is possible to use personally identifiable information.
- Below $1 million in annual revenue
- Below five years of age
- You must have some traction. This does not only refer to revenue but also can include successful pilot studies, users and strategic alliances.
- Positive social impact
- You must be able to attend the meeting of founders/members of the exec team (40hrs total between October 2022 and December 2022; 3-hour sessions).
Timeline For Hyper Protect Accelerator
1. Startup Selection
After applications close on May 31, IBM, Village Capital and our panel of expert judges and program collaborators will review startup applications and choose 45 startups based on scoring criteria. This includes evaluating each startup’s fit for purpose, including industry verticals, use cases, problem statement, vision, mission, value proposition, mission, structure, team structure, competitive set, solution and architecture.
2. Business & Technical Workshops
Starting in Q3, IBM hyper cloud protect accelerator and Village Capital will host various technical and business acceleration workshops. Every startup is expected to participate in all the virtual workshops during the 3-month-long formal programming. When the cohort selections occur, we will share details about how these workshops will be run.
3. Ongoing Mentorship
IBM cloud hyper protect accelerator will offer virtual mentorship for our accelerator cohort of entrepreneurs to help them create a long-term and successful accelerator. This includes monthly one-on-1 engagements for IBM Hyper Protect Accelerator startups and quarterly engagements for Friends of Hyper Protect startups. Programming will take place for two years.