A new startup in Herndon will be receiving funds to get off its feet.
Gov. Bob McDonnel announced Thursday that the Mach37 Cyber Accelerator, which plans to launch on July 1, will receive funds from the commonwealth to serve as an incubator for cybersecurity startups, Washington Business Journal reports.
Working out of the Center for Innovative Technology in Herndon, the accelerator plans to host eight to 10 companies twice a year for 90-day sessions, helping them to develop and hone their presentations for potential investors.
The incubator will start accepting applications from cybersecurity startups in June.
New Enterprise Associates Inc. and the Northern Virginia Technology Council are among the initial backers.
What do you think of the commonwealth providing funds for this new venture? Tell us in the comments below.
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