You have reached your limit of free articles this month.

Enjoy unlimited access to myAJC.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and bonus content- exclusively for subscribers. Starting at just 99¢ for 8 weeks

X

Welcome to myAJC.com

This subscriber-only site gives you exclusive access to breaking news, in-depth coverage, exclusive interactives and bonus content.

You can read free articles of your choice a month that are only available on myAJC.com.

Ga. Tech launches world-class technology incubator


The next Facebook, Amazon or mobile device phenomenon like the iPhone could start in Atlanta thanks to a new venture capital collaboration between the city, Georgia Tech and 10 of the metro area’s largest corporations.

To get more tech investment in Atlanta and to continue the city’s recent rise as a technology leader, the group launched a venture fund Thursday dubbed Engage. It’s purpose is to lure start ups looking for a place to incubate the Twitter or Instagram of tomorrow.

It’s a big deal for the city because investors who throw millions at the next big thing haven’t dumped a lot of that money in Atlanta, boosters say. Seeing compnaies like Delta Air Lines and The Home Depot putting in $1.5 million each to help back start ups will change the conversation.

“Venture capital is a challenge that we have,” said Georga Tech President G. P. “Bud” Peterson. “But we have 10 companies that are very interested in the opportunities and innovations that can be incorporated into their businesses or that they can help grow. Showing that kind of engagement from the Fortune 500 will attract the venture capital community.”

Thursday’s announcement is a jewel in Georgia Tech’s crown and also bolsters Atlanta and Georgia’s position in the national tech stratosphere.

In the past year, Anthem, Honeywell, NCR and GE Digital have announced major tech hubs in the city of Atlanta that will bring thousands of high-paying jobs in the coming years.

In particular, Midtown has emerged since the Great Recession as the Atlanta region’s technology boomtown. NCR in recent years announced it would relocate from Gwinnett County to a new headquarters at Technology Square.

The company then doubled down on that move last year when it announced its tech hub and second phase of development. The company will ultimately have more than 5,000 workers in Midtown.

Other prominent names that have built new innovation labs or made corporate expansions near Georgia Tech include Equifax, Southern Company, Panasonic, Sage Software and AT&T. Coca-Cola and Turner Broadcasting teamed up in late

2015 to back start ups that could bring potential innovations to both companies.

Calling Atlanta the “southeast’s technology, innovation and entrepreneurship capital,” Mayor Kasim Reed said in a statement, ““We must take advantage of these unique assets to further stimulate our growing ecosystem of start-ups and growth-stage companies, connecting them to capital, talent and mentorship.”



Reader Comments ...


Next Up in Local

Health care insurance vote: What time is the vote; what does the bill do; who is voting against it?
Health care insurance vote: What time is the vote; what does the bill do; who is voting against it?

The Republican bill that is set to repeal and replace the Affordable Care Act is scheduled for a vote Thursday, as President Donald Trump and leaders in the House scramble to secure enough support for the measure to pass.The American Health Care Act could be dead on arrival at the House, however, as a number of Republican lawmakers are saying they...
Ga. sheriff: Fake ‘breaking news’ story may contain virus
Ga. sheriff: Fake ‘breaking news’ story may contain virus

Today in fake news: A Facebook link/preview that tells of multiple fatalities in a “fiery wreck in Butts County” is false, the sheriff’s office said in an online post Wednesday. “This is FALSE information,” according to the Facebook post by Sheriff Gary Long’s office. “We are being told that the link on...
Race to the finish: House leaders scramble to gather support for GOP health plan
Race to the finish: House leaders scramble to gather support for GOP health plan

Today marks the 7th anniversary of the passage of Barack Obama’s signature health law -- the Affordable Care Act. It also marks the day Republican leaders hope to gut it. The House of Representatives is set to debate the GOP’s Obamacare replacement plan today. And it’s shaping up to be a marathon as Republican leaders push holdouts...
Don Carter, 99: Newspaper lover found love at newspaper

Don Carter found more than interesting stories as a reporter at The Atlanta Journal in the early 1940s. He found love. Carter and Carolyn McKenzie, a reporter with the rival Atlanta Constitution, both drew assignments to cover the 4-H cattle show. McKenzie pushed her byline and prose to Page 1 with some striking photos she took. Carter’s picture-less...
Sam Nunn steps down as CEO of Nuclear Threat Initiative

After 16 years, Sam Nunn is bowing out as chief executive of the Nuclear Threat Initiative, the anti-proliferation group he helped create after his lengthy career in the U.S. Senate, it was announced this morning. Replacing the 78-year-old Nunn will be Ernest Moniz, former U.S. secretary of energy during the Obama administration. Nunn will remain involved...
More Stories