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Citrix announces startup incubation program |
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Citrix, celebrating its fifteenth year as a public company, has announced the Citrix Startup Accelerator, an incubation program for entrepreneur-led innovation that will see it provide participating companies with seed funding, mentoring, subsidized office space and access to the global Citrix ecosystem, partners and customers.  A Silicon Valley-based seed investment fund, Citrix Startup Accelerator will look at early-stage companies worldwide, focusing its multi-million dollars on new technologies or business models that can extend the Citrix virtual computing solution portfolio “and contribute to its vision of a world where anyone can work and play from anywhere on any device. The company's erstwhile strategic investment and technology acquisitions in Silicon Valley include Kaviza, NetScaler and XenSource. The incubator will be based adjacent to the Citrix Silicon Valley headquarters, so as to allow entrepreneurs access to business and technical mentoring from executives at Citrix and throughout Silicon Valley, while remaining in a startup-friendly environment. Annually, up to 12 companies will join the program for up to 18 months. The Accelerator will make investments in early-stage organizations that have the potential to enable new capabilities in virtualization, desktop and application delivery, mobile devices, security, authentication, cloud, networking, storage and collaboration/software as a service. Reports said that the company plans to invest around $400,000 per company, or around $5 million a year in the program. The company had a market capitalization of $13.16 billion and revenues of $1.61 billion in 2009. |
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