IBM Cloud Hyper Protect Accelerator Powered by IBM LinuxONE
Last June, IBM launched the IBM Hyper Protect Accelerator, powered by IBM LinuxONE. This program aimed to help startups in fintech and healthtech to get technical support, experienced network of business, invaluable connections, investors, mentors, coaches, advisers, as well as providing product design assistance and curated curriculum created exclusively for startups.
Moreover, selected startups received up to $120,000 in IBM Cloud credits, an in-person workshop in the U.S., technical and business mentorship, and business value design assistance, as well as access to IBM’s network of partners, customers, and stakeholders.
IMB Cloud Hyper Protect Accelerator Approach
IBM Cloud Hyper Protect Accelerator is looking for early-stage fintech and healthtech startups with solutions engineered to keep their sensitive data highly secured. Therefore, during the entire program, the participants worked with IBM and their collaborators IBM Alpha Zone, Queen City Fintech, MEDICI, the Society of Physician Entrepreneurs, and Healthtech Women, which helped them drive innovation and scale. ’’The main goal and mission of IBM Cloud Hyper Protect Accelerator is to help startups keep their most sensitive data safe by providing the highest level of security, uptime, and availability’’, as declared Melissa Sassi, the Global Head of IBM Hyper Protect Accelerator.
How does it work?
IBM Cloud Hyper Protect Accelerator covers 4 phases: Call for entries, Startup identification, In-person workshop, Ongoing mentorship.
During the 1st phase: Call for entries – all early-stage fintech and health fintech startups from all over the world, who require help in building world-class applications are invited to apply for this Accelerator. To be eligible, you should be part of one of these categories: early-stage, pre-Series A startups from across the globe that are less than five years old and have less than $1M in revenue. Additionally, you should have a website and matching email address.
Phase II: Startup identification – In this phase, during 12 weeks, IBM works with IBM Alpha Zone, Queen City Fintech, MEDICI, the Society of Physician Entrepreneurs, and Healthtech Women to review startup applications and select fifteen early-stage fintech and healthtech startups with technical and business best practices.
Phase III: In-person workshop – IBM will host an in-person workshop, which takes place over four days in Charlotte, North Carolina. Last year, it was during the week of November 18, 2019. The workshop included agile design workshops from IBM, technical expertise from IBM engineers, business value sessions from IBM Alpha Zone, Queen City Fintech, MEDICI, the Society of Physician Entrepreneurs, and Healthtech Women, during which startups are consulted in refining their ideas. On the demo day, the startups have to present (in a 6 min pitch-deck) the solution they are building to IBM partners, customers, and the venture capital community.
Phase IV: Ongoing mentorship – After the program ends, IBM will provide virtual mentorship, consisting of monthly one-on-one engagement and quarterly all-hands with IBM technical personnel over a two-year period. The entrepreneurs will also receive virtual business mentorship over a one-year period, which includes monthly one-on-ones and quarterly all-hands. After one year of mentorship, they will be invited back to a second in-person demo day. This way, the Accelerator assures long-term collaboration for long-term results.
The Class of 2020
Last year, the IBM Cloud Hyper Protect Accelerator application map counted startups from 42 countries and in the end were selected fifteen fintech, healthtech, and insurtech startups from 9 countries, including Canada, Germany, India, Ireland, Kenya, Pakistan, United Arab Emirates, United Kingdom, and the United States, which form The Class of 2020. ,,Our entire organization has been incredibly excited to see so many high-quality applications from the startup scene. As I created our application heat map, I was thrilled to see applications pour in from 42 countries! We plan to arm the Class of 2020 with solutions such as IBM Cloud Hyper Protect Services powered by LinuxONE. Each startup will receive IBM Cloud credits of up to $120,000, an in-person workshop in the United States, ongoing technical and business mentorship, business value design assistance, access to IBM’s network of partners, customers, and stakeholder groups, go-to-market support, and co-marketing collaboration.’’ writes Melissa Sassi.
Where does IDEACTION come in?
One of these fifteen startups is myAllergy, one of Ideaction’s clients. Ideaction supported myAllergy to get into IBM Hyper Protect Accelerator, where they worked alongside the Ideaction team to revamp & improve the current product. Ideaction was tasked with creating a new App Architecture to work with the IBM Hyper Protect server product, a new offering in 2020 to protect sensitive health data with security that is the world leader. The purpose of the current app is to do user interviews and use that feedback to inform development of the new IBM powered solution. Ideaction’s CEO, Boris Esanu, joined the Founder and CTO of the startup during the event in Charlotte and supported during the entire week, providing them with all the assistance needed. For instance, after the first day of the program, Ideaction with myAllergy built a new pitch deck overnight (with the help of UX/UI designers based in Europe) according to the feedback provided by the experts from the program. Therefore, due to our experience, we know that reactivity, flexibility, professionalism, teamwork, focus on the result and feedback are the key points of accomplishing the ultimate result.
IBM Cloud Hyper Protect Accelerator is a challenging and valuable experience. It does not only offer technical support to empower startups with game-changing security and encryption solutions but also provides them access to an experienced network of business, investors, mentors, coaches, advisers with continuing support for two years. Likewise, Ideaction can help you get into this Accelerator and help you with implementing the technology and all the services startups receive during the program. Doubtless, we encourage the startups to venture in this Accelerator program, as all the benefits they provide, such as ongoing technical and business mentorship, business value design assistance, alongside with solutions such as IBM Cloud Hyper Protect Services will definitely help them drive innovation and scale their companies with solutions designed to keep their sensitive data protected.