The Fox Valley area will have a new tech startup space next fall thanks to a collaboration between the Green Bay Packers and Microsoft.
TitletownTech is being built in the Packers’ Titletown District, in part thanks to Microsoft’s recently announced TechSpark program, which aims to expand rural broadband access, create jobs, and provide educational opportunities in six U.S. communities, including one in Wisconsin.
Mark Murphy, president & CEO of the Green Bay Packers, and Brad Smith, president of Microsoft, announced the collaboration in a joint blog past late last week. In it, they argue the combined incubator, venture capital fund and accelerator will boost the region’s economy by helping to launch early stage companies.
Both the Packers and Microsoft plan to put $5 million each into the joint project for the next five years, adding proceeds of the new venture capital fund will be donated to economic development and philanthropic efforts.
This fund will invest in startups that take part in the TitletownTech Accelerator, and though only Microsoft and the Packers have put money in so far, additional investors will have opportunities to join as well, according to a release.
See more at WisBusiness.com.