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June 30, 2014

Frost Data Capital and GE Launch Frost I3

By Mandira Srivastava, TMCnet Contributor

GE and Frost Data Capital partner to launch and grow up to 30 new software and technology start-ups over the next three years. GE launched Frost I3, a new Industrial Internet incubator.

The incubator will offer funding, resources and expertise to launch companies focused on industrial technologies and solutions that accelerate the advancement of intelligent machines, predictive and contextual analytics, and new workforce mobility tools.

The joint collaboration team of GE executives and the Frost I3 leadership will identify ideas for the startups based on the needs of their shared customers. These startups will get funding from Frost Data Capital and GE Ventures, as well as use of Frost's incubator resources and facility in Southern California.In addition, they will also gain access to GE's global network of 5,000 research scientists and 8,000 software professionals across industries.

Stuart Frost, managing partner and CEO of Frost Data Capital, said, "Frost I3 is about empowering global organizations to become smarter through innovation. Working with strategic partners like GE, which is a founding member of Frost I3, we are co-investing both time and money to create in-demand companies, and then scaling these new companies in an accelerated and highly effective incubation process…build confidence in a proven management team, and then make an acquisition at the right time, with the right technology that will fit their environment. This result is an all-around win for our partners, the company, the investors, and ultimately our shared customers. What we are looking at, perhaps for the first time, is a scalable model of predictable, repeatable innovation.”

Bill Ruh, vice president, GE Software, said, "The Industrial Internet is the next big opportunity for developers and entrepreneurs to drive rapid innovation and industry transformation. Our collaboration on Frost I3 presents a significant opportunity for new startups to establish their leadership position by gaining access to the right domain knowledge and next-generation technology.”

Edited by Maurice Nagle
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