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Known as RAP, the RIoT Accelerator Program facilitates entrepreneurship end-to-end from academic research and education through to rapid commercial growth. RAP will partner startups with an industry consortium of more than 60 companies such as IBM.
RIoT is funding the program with a variety of grants, including $500,000 from the federal government, and has support from the NC IDEA Foundation. The RAP operates out of RIoT’s headquarters in Raleigh.
RIoT is focused on Internet of Things (IoT) companies, but the accelerator considers startups that would not be considered traditional IoT firms. In four years, it has worked with 40 companies tat collectively raised more than $275 million and created more than 400 jobs in North Carolina.