Earlier this week, the company launched new tech accelerator in Seattle through a partnership with American Family Insurance for startups related to the connected home. Oddly enough, this is the first U.S. accelerator program Microsoft has announced since it launched its Ventures program last year. Applications to join the program are open from now until July 21, and the accelerator will run from August to December of this year.
Unlike other accelerator programs, such as Y Combinator, Techstars, and others, Microsoft doesn’t demand equity stakes in firms that join the program — but it does reserve the right to become early investors should they see potential in a given startup. That being said, however, American Family Insurance is offering a $25,000 equity investment to participating startups looking for extra funding.
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