(Green Bay, WI, Friday, October 20, 2017) â€“ The Green Bay Packers and Microsoft Corp. have announced the launch of TitletownTech, a one-of-a kind partnership between the two organizations aimed at boosting economic expansion in Wisconsinâ€™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 regionâ€™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 start-ups 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 TitletownTechâ€™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.
Microsoft and the Packers are each investing $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.
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 areaâ€™s draw as a prime location to live and work.