ATLANTA--(BUSINESS WIRE)--Engage Ventures, an independent early stage venture fund, today announced that it has opened its application process for Fall 2017.
Engage Ventures is the largest-ever strategic grouping of major corporations in an independent venture firm. Investments from the $15 million fund will be uniquely focused to help new companies finance and formulate their go-to-market strategies and gain access to customers and distribution.
Companies accepted to the highly selective three-month Engage program will receive $75K in initial seed funding. In subsequent financing rounds, Engage will co-invest larger amounts in portfolio companies. Companies can apply directly at engage.vc.
The firm’s founding partners include AT&T, Chick-fil-A, Cox Enterprises, Delta Air Lines, Georgia-Pacific, Georgia Power Foundation, Inc., Intercontinental Exchange (ICE), Invesco Ltd., The Home Depot and UPS. Tech Square Ventures will manage the fund, and Engage will leverage services in partnership with the Advanced Technology Development Center (ATDC) at Georgia Tech.
In addition to funding, the corporations will contribute time, mentorship, expertise and other resources to portfolio companies. This will give startups the ability to work closely with executives from leading brands to accelerate their go-to-market strategies and achieve scale more quickly. The corporate partner CEOs and other senior leadership will also take an active role on the Engage Board of Directors.
“The robust level of participation from leading corporations will help ensure Engage’s success by providing a world-class experience for high-potential startups,” said Martin L. Flanagan, President and CEO of Invesco. “We’re also excited about the shared innovation and learning opportunities across the diverse group of corporations involved.”
Engage Ventures recently appointed Thiago Olson as its first Managing Director. Olson is an entrepreneur, acclaimed physicist and venture partner at Tech Square Ventures.
“The core mission of Engage Ventures is to help emerging companies get their products to market. We have an incredible lineup of Fortune 1000 companies, CEOs and executives who will dedicate their talent and resources to help our entrepreneurs achieve their visions,” said Olson. “Our pooled investment model for corporations is quite novel; it will let Engage maintain investment independence, while at the same time empowering startups to choose their own best path forward.”
Engage Ventures maintains its physical offices in Georgia Tech’s Tech Square in Atlanta, giving founders a place to work alongside other entrepreneurs who are intent on transforming markets as part of the Engage portfolio.
About Engage Ventures
Engage Ventures is an independent early stage venture fund and program that gives startups what they need most – customer and market access. Engage startups come from around the world to work with top executives from leading brands, including AT&T, Chick-fil-A, Cox Enterprises, Delta Air Lines, Georgia-Pacific, Georgia Power Foundation, Inc., Intercontinental Exchange (ICE), Invesco Ltd., The Home Depot and UPS. These corporate partners, along with the Georgia Institute of Technology’s Advanced Technology Development Center (ATDC) and Tech Square Ventures, provide tools, hands-on support and resources that help companies develop go-to-market strategies, open doors faster and transform strategies into action. Engage also provides access to thought leaders and workshops that help entrepreneurs tackle their biggest challenges, as well as office space where founders work with other entrepreneurs who are transforming their markets. Headquartered in Georgia Tech’s Technology Square, Engage is led by Managing Director Thiago Olson. For more information, visit engage.vc.