The Green Bay Packers and Microsoft are collaborating on TitletownTech, a partnership that will be based out of the club’s Titletown District.
As part of this plan, a new building will be constructed west of the Hinterland Brewery. The venture will focus on three primary initiatives, which are TitletownTech Accelerator, TitletownTech Venture Capital Fund, and TitletownTech Labs. TitleTown Accelerator will offer mentoring for young companies and start-ups, while TitletownTech Venture Capital fund will provide investment to new companies that participate in the Accelerator. The TitletownTech Labs, meanwhile, will allow employee teams from established businesses to work at the facility for 18 weeks to develop new digital technology products and services.
The building, which is slated to open in the fall of 2018, will be home to the northeastern Wisconsin headquarters of Microsoft’s TechSpark program, in addition to space for Titletown District Staff. At least one other tenant is expected to be placed in the structure, which is being paid for by the Packers. More from The Green Bay Press-Gazette:
The Packers and Microsoft will contribute $5 million each to management of the center and the venture capital fund, which will be available to TitletownTech participants. Profits from investments will be contributed to philanthropy or economic development.
[Packers vice president and general counsel Ed] Policy said additional investors will be recruited, but the Packers and Microsoft will remain the largest.
The Packers will pay for the building and receive rent from tenants, including their own separate Titletown District entity. The team declined to say how much the building will cost.
“One of the key factores that motivated us to move forward with Titletown District was that Green Bay was at a disadvantage because of the small percentage of college graduates we have in the area. This will help address that,” Packers President and CEO Mark Murphy said.
TitletownTech adds another wrinkle to the Titletown District, which the Packers have been developing near Lambeau Field. The development features several components, including Hinterland Brewery, Bellin Health Sports Medicine and Orthopedics clinic, Lodge Kohler, and other amenities. Phase 1 opened earlier this year.
Rendering courtesy Green Bay Packers.