Austin technology startup incubator Capital Factory is now part of the Google for Entrepreneurs eight-city North America network, Mayor Lee Leffingwell announced May 6.
Businesses based at Capital Factory in downtown Austin will now have free access to the other seven cities already part of Google's entrepreneurial team as well as access to Google's sponsored incubators in London and Tel Aviv, Israel, Leffingwell said.
"[Capital Factory-based businesses] will have the opportunity to pitch to Silicon Valley investors, and the impact of this partnership will go well beyond the Capital Factory startups," Leffingwell said, estimating that companies from other cities within Google's network have raised $50 million and created 1,200 jobs since becoming members in their respective hubs.
Josh Baer, Capital Factory executive director, said the partnership will result in increased access to Google experts and services for his incubator's startup businesses.
"Everyone knows Austin is an up-and-coming startup city," Baer said. "This is a sign we're at the top and no longer just up and coming."
Google has teamed with Capital Factory in the past to welcome the city of Austin's new Chief Innovation Officer and to announce that Google Fiber service would be coming to Austin, said Gerardo Interiano, Google public affairs manager.
The partnership results in a financial sponsorship from Google, the terms of which were not disclosed by Interiano.
Also, startups from Capital Factory will be eligible to compete in Google for Entrepreneur's next Demo Days, he said. Last year, 10 companies competed, each earning at least $100,000 for making the final pitching process.