Intel chose a gathering of companies at the ASU+GSV Summit and the 50th anniversary of “Moore’s Law” to announce the launch of a new accelerator for ed-tech startups.
The Intel Education Accelerator is particularly interested in companies focused on data analytics and adaptive learning in K-12 or higher education.
“We know innovation and technology will really make a difference,” said John Galvin, vice president and general manager of Intel Education at the announcement. “We’ve trained over 12 million teachers how to bring technology into classrooms in over 100 countries.”
Gordon Moore was a co-founder of Intel, the Santa Clara, Calif.-based company that designs and builds technologies that serve as the foundation for computing devices. Back in 1965, he predicted that overall processing power for computers will double every two years.
The new accelerator will offer startups the opportunity to access Intel’s technology expertise, global reach, and relationships with educators and governments in more than 100 countries.
Companies that are accepted will receive up to $100,000—$50,000 up front for up to 6 percent in common stock, and another $50,000 in a convertible note at the end of the program.
This is the second accelerator to announce its startup plans in as many months. The EDGE Edtech Accelerator opened in March in New York City.
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