What is the Citrix Startup Accelerator?
– ‘The Enterprise Accelerator’. We only invest in enterprise startups, no consumer businesses.
– Early-stage versus seed-stage. (What do I mean by that? I mean we invest in companies that are raising $500K-$2M versus less than $500K. It also typically means companies are 6-12 months along.)
– A new model for early-stage corporate venturing. Anchored in Citrix Labs, our charter is three-fold: ROI, learning, and open innovation. This is about effectively allocating $250K investments into high-growth companies; learning about new technologies and helping them become commercially viable; and a new, direct-investment vehicle for open innovation.
– Our key differentiator: enterprise customer development. (They have massive challenges with IT budgets to match, you have viable solutions.)
– We’re in our 3rd year. We started focusing on enterprise startups at the end of 2010.