Citrix and HQ Raleigh team up for accelerator

07/25/2014 2:36 PM

07/25/2014 2:37 PM

Business software giant Citrix Systems is teaming up with local business accelerator HQ Raleigh to help local entrepreneurs develop breakthrough technology products.

The three-month Citrix Startup Accelerator Innovators Program will be housed in Citrix’s new divisional headquarters, which is targeted to open by mid-September and will initially house 580 employees, in the old Dillon Supply warehouse at the corner of West and Hargett streets near downtown Raleigh. Citrix has had a presence in the Triangle since 2011, when it acquired Raleigh software firm Sharefile, which now operates as the company’s data sharing division, for $54 million.

The program is aimed at “nascent entrepreneurial teams” of two or more people, said program spokeswoman Devon Crews.

An unusual feature of the program is that the entrepreneurs will work alongside “intrapreneurs” — that is, new product teams from within Citrix or its corporate partners. The thinking is that “they can learn from each other,” Crews said.

Entrepreneurial teams that are accepted into the program will receive $25,000 in seed funding, plus mentoring from business executives, venture capitalists and others.

A total of 10 teams, both entrepreneurial and intrapreneurial, will be accepted into the three-month session in Raleigh.

Earlier this year, Citrix conducted a pilot accelerator program at its Silicon Valley headquarters. Its success led to the expansion of the program to Raleigh, and the company will be announcing a further expansion to an overseas site, Crews said.

Citrix’s new Raleigh offices will feature a rooftop restaurant and bocce court and a “living wall,” which is a wall covered with vegetation, as well as high-tech meeting rooms.

“It’s a really beautiful, ultra-modern space,” Crews said. “It’s a fitting place to design the...technologies for the future.”

Entrepreneurial teams can apply to the program here. The program will begin Sept. 17.

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