The Green Bay Packers and Microsoft (News - Alert) have teamed up to offer the state of Wisconsin and its citizens a game-changing program.
The football team and the tech compnay announced the launch of “TitletownTech.” This program is a one-of-a kind partnership between the two organizations that is aimed at boosting economic expansion in Wisconsin’s Fox River Valley and beyond. This partnership will bring world-class digital innovations and expertise to Green Bay. Operating from a state-of-the-art workspace in the Titletown development next to Lambeau Field, TitletownTech will help the region’s emerging and existing businesses define and build new digital products, which will transform their operations. This will be accomplished through technology and, in some cases it will provide capital to launch new ventures.
“Titletown has gained a tremendously impactful partner in Microsoft,” said Mark Murphy, president and CEO, Green Bay Packers. “Economic development is the key to our region’s future, and Microsoft, with its array of tools and expertise will help grow new businesses as well as assist our existing companies to use technology to realize greater success.”
What programs are part of TitletownTech?
The TitletownTech Accelerator program will work with startups and young companies to incubate or accelerate and bring to the market new digital technology products and services. The employees of these participating companies will spend eighteen weeks working at TitletownTech. They’ll work with its advisors and mentors on technology and business development projects.
The program’s 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.
The TitletownTech Labs will allow established businesses to send employee teams to work at TitletownTech for eighteen weeks to develop new digital technology products and services. These employee led teams will also work with TitletownTech’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.
“The latest digital tools, technology expertise and capital are critical to starting and running a successful business in the 21st century,” said Brad Smith, president, Microsoft. “By combining the Green Bay Packers’ deep engagement in this community and our expertise in helping businesses digitally transform, we believe TitletownTech will be a valuable resource for Wisconsin and a model for fostering economic development in other parts of the country.”
Microsoft and the Packers are each planning to commit $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. Also, Microsoft is creating a new TitletownTech Mentorship Program that will enable its employees in the Seattle area and elsewhere to volunteer and serve as mentors working with the companies participating in the TitletownTech Accelerator and Labs programs. These mentors will include engineering and technical experts as well as employees from other business fields. They will work with the participating companies via high-speed video connections and can spend time volunteering in person at TitletownTech.
The partnership of the Green Bay Packers with Microsoft is the ultimate SuperBowl for the citizens of Wisconsin for growth and prosperity.