Monday, July 22, 2013

OpenIncubate Launches At Capital Factory

Open source IT infrastructure is the center of focus at the brand new, OpenIncubate accelerator program which has just launched at the Capital Factory, backed by Austin Ventures, Battery Ventures, and The Valley Fund. According to OpenIncubate, it is a new accelerator formed to fund teams who are using open source IP to "transform the IT infrastructure layer", and is now accepting applications for companies interested in the IT infrastructure area. In an interesting twist to the accelerator trend, the new accelerator is focused on both software and hardware--both areas of the strengths in Texas--and has a focus on data centers. OpenIncubate, like other accelerators, is offering up seed funding, work space, and mentorship to teams. The new incubator said that it is accepting applications from companies or teams who utilize open source frameworks aimed at building on and refining the concept of the software-defined data centers in areas of innovation including hardware, software, and networking.