GREEN BAY, Wis., Oct. 19, 2017 /PRNewswire/ -- The Green Bay
Packers and Microsoft Corp. today announced the launch of
TitletownTech, a one-of-a kind partnership between the two
organizations aimed at boosting economic expansion in Wisconsin's Fox River Valley and beyond by
bringing world-class digital innovations and expertise to
Green Bay. Operating from a
state-of-the-art work space in the Titletown development next to
Lambeau Field, TitletownTech will help the region's emerging and
existing businesses define and build new digital products,
transform their operations through technology and, in some cases,
provide capital to launch new ventures.
TitletownTech will initially focus on three areas:
- TitletownTech Accelerator. The Accelerator will work
with startups and young companies to incubate or accelerate and
bring to market new digital technology products and services. The
employees of participating companies will spend 18 weeks working at
TitletownTech and with its advisors and mentors on technology and
business development projects.
- TitletownTech Venture Capital Fund. The Venture Capital
Fund will invest in and provide capital to help launch new
companies that participate in the TitletownTech Accelerator. The
Packers and Microsoft are the first two entities to commit
investments to this fund, with an opportunity for participation by
additional investors.
- TitletownTech Labs. The Labs will enable established
businesses to send employee teams to work at TitletownTech for 18
weeks to develop new digital technology products and services.
These employee teams will also work with TitletownTech's advisors
and mentors. The Labs will create new opportunities for local firms
involved in manufacturing, the paper industry, agriculture, sports,
healthcare, insurance, and other parts of the regional economy to
develop innovative technology solutions they can take back into
their own enterprises.
"Titletown has gained a tremendously impactful partner in
Microsoft," said Mark Murphy,
president and CEO of the Packers. "Economic development is the key
to our region's future, and Microsoft, with its array of tools and
expertise will help grow new businesses as well as assist our
existing companies to use technology to realize greater
success."
"The latest digital tools, technology expertise and capital are
critical to starting and running a successful business in the 21st
century," said Brad Smith, president
of Microsoft. "By combining the Green Bay Packers' deep engagement
in this community and our expertise in helping businesses digitally
transform, we believe TitletownTech will be a valuable resource for
Wisconsin and a model for
fostering economic development in other parts of the country."
New digital technologies create significant opportunities for
startups and young businesses, which according to the University of Wisconsin-Madison account for 50
percent of the job creation in the state. These younger businesses
often need venture funding and additional technical and consulting
support to establish themselves. Digital technology also creates
significant opportunities for existing businesses in sectors such
as manufacturing, agriculture and healthcare by reshaping how they
engage with customers, enter new markets, empower employees and
develop new products.
Microsoft and the Packers are each planning to commit
$5 million in TitletownTech over the
next five years and have pledged to donate all profits and capital
returns from the Venture Capital Fund to philanthropy and economic
development.
In addition, Microsoft is creating a new TitletownTech
Mentorship Program that will enable its employees in the
Seattle area and elsewhere to
volunteer and serve as mentors working with the companies
participating in the TitletownTech Accelerator and Labs programs.
These mentors will include engineering and technical experts as
well as employees from other business fields. They will work with
the participating companies via high-speed video connections and
can spend time volunteering in person at TitletownTech.
The new building that will house TitletownTech will open next
fall. The Packers and Microsoft are collaborating on the design of
the facility, bringing the latest advances in technology
development facilities globally. The Titletown District is a major
new development intended to spur additional regional economic
growth and complement the Greater Green
Bay area's draw as a prime location to live and work.
Microsoft's participation in TitletownTech is part of the
company's TechSpark program, which is developing new digital
initiatives in six local U.S. communities outside major
metropolitan cities to foster job creation and economic growth.
Microsoft TechSpark Wisconsin is focused on northeastern
Wisconsin and will be based at
TitletownTech.
About the Green Bay Packers
The historic Green Bay Packers, established in 1919, are the
NFL's only community-owned team with more than 360,000
shareholders. With a tradition of excellence, the Packers have
captured an NFL-record 13 world championships, including four Super
Bowls, and have 24 individuals enshrined in the Pro Football Hall
of Fame. Lambeau Field, the Packers' venerable home, is the
longest-tenured stadium in the NFL and recognized by many as having
the top gameday experience in professional sports.
About Microsoft
Microsoft (Nasdaq "MSFT" @microsoft) is the leading platform and
productivity company for the mobile-first, cloud-first world, and
its mission is to empower every person and every organization on
the planet to achieve more.
View original content with
multimedia:http://www.prnewswire.com/news-releases/the-green-bay-packers-and-microsoft-join-forces-to-drive-economic-growth-and-job-creation-in-wisconsin-300540081.html
SOURCE Microsoft Corp.