Wednesday, June 25, 2014
Frost Data Capital, GE Launch Industrial Internet Incubator
Frost Data Capital, the startup incubator firm led by Stuart Frost, has tied with GE to launch a new, startup incubator aimed at industrial Internet startups, the two said Wednesday. The two said they have started Frost I3, which will provide funding, resources, and expertise aimed at companies focused on industrial technologies. The incubator said it is aiming to create and grow up to 30 new startups over the next three years. Those startups will be based in Southern California, and receive funding from both Frost Data Capital and GE Ventures. The two companies did not say how much funding they will commit to the new incubator. Frost Data Capital (until recently known as Frost Venture Partners) is strongly focused on "Big Data" startups. Stuart Frost is best known for his success in building Datallegro, which was acquired by Microsoft.