Microsoft partners with Green Bay Packers to create new tech accelerator
Microsoft and the Green Bay Packers will work together on healthcare tech projects. The tech giant and the storied football franchise announced today the launch of TitletownTech, their partnership whose aim is to boost economic expansion in Wisconsin’s Fox River Valley and beyond.
Operating from a work space in the Titletown development next to Lambeau Field, TitletownTech will work with the region’s emerging and existing businesses to build new digital products for use in a variety of sectors, including healthcare.
The partners will also provide capital to launch new ventures in some cases.
The Accelerator will work with startups and young companies to incubate or accelerate and bring to market new digital technology products and services. The employees of participating companies will spend 18 weeks working at TitletownTech on technology and business development projects with advisors and mentors.
The initiative has also established a venture capital fund to help launch new companies and investments for existing businesses.
Healthcare, manufacturing, the paper industry, agriculture, sports, and insurance, are among the sectors of the regional industries participating. The goal is to develop new technology solutions they can take back to their own enterprises.
Microsoft and the Packers are each planning to commit $5 million in TitletownTech over the next five years and have pledged to donate all profits and capital returns from the Venture Capital Fund to philanthropy and economic development.
Microsoft is also creating a TitletownTech Mentorship Program to enable its employees in the Seattle area and elsewhere to volunteer and serve as mentors working with the companies participating in the TitletownTech Accelerator and Labs programs. The mentors will include engineering and technical experts as well as employees from other fields.
Microsoft’s participation in TitletownTech is part of the company’s TechSpark program, which is developing new digital initiatives in six local U.S. communities outside major metropolitan cities to foster job creation and economic growth.