9-26-13 8:00 AM EDT | Email Article

AVG contributes funding to accelerator program for some of the world's most promising startups in the field of contactless technology

AMSTERDAM and SAN FRANCISCO, Sept. 26, 2013 /PRNewswire/ -- AVG Technologies N.V. (NYSE: AVG), the provider of Internet and mobile security, privacy and optimization to 155 million active users, today announces it has invested in early stage business accelerator Startupbootcamp NFC (Near Field Communication) & Contactless in Amsterdam. AVG joins venture capitalists and corporates based in the Netherlands on the Startupbootcamp NFC & Contactless Board in organizing and running the next program which starts on October 14th 2013. Investing in this initiative is part of AVG's Research & Development program, which is lead from Amsterdam where AVG's Innovation Center is based.

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Startupbootcamp is a European initiative with seven hubs, co-founded by Dutch serial entrepreneurs, Patrick de Zeeuw and Ruud Hendriks. Startupbootcamp runs two programs a year from the Amsterdam hub, each lasting three months, to which startups across the world apply for the chance of a place. Following the three month program, Startupbootcamp then guides the selected startups intensively for an additional three months to help them to secure additional funding for next stage growth.

Patrick de Zeeuw, Co-Founder Startupbootcamp Global, said: "We are very excited to have AVG as the latest partner in Startupbootcamp NFC & Contactless. AVG can provide Startupbootcamp with digital business insights and mentoring for the 10 selected companies in the Near Field Communications and Contactless Interactions program in Amsterdam."

According to ABI Research, the number of NFC devices in use will exceed 500 million in 2014, so contactless technology has the potential to make a massive impact on how people connect to devices and connect their multiple devices together. Applicants were selected on the basis of the innovation of their business in the field of contactless in particular as it relates to payments, where there are many NFC challenges including keeping such sensitive data private.

"Innovation, research and aspiration are at the heart of our product development ethos at AVG, which aligns with Startupbootcamp's goal of helping the most promising young technology companies get a head start. The three month project essentially pampers the startups by providing access to experts in their market, networking opportunities and world class mentors from the investing companies like AVG," said Shaul Levi, Chief Scientist, AVG Innovation Center, Amsterdam. "Our innovation ethos is founded on inspiring and developing new ideas both from within AVG and in mentoring others on their own path to growth. Contactless is a growing area and, with our goal of helping people keep their connected lives secure and private, it is very relevant to our own business and so we see real synergies there."

At the start of September, AVG unveiled its latest innovations as part of AVG's 2014 product portfolio which delivers the latest online security, performance and privacy products for PC, smartphone and tablet devices.

About AVG Technologies (NYSE: AVG)
AVG's mission is to simplify, optimize and secure the Internet experience, providing peace of mind to a connected world. AVG's powerful yet easy-­to-­use software and online services put users in control of their Internet experience. By choosing AVG's software and services, users become part of a trusted global community that benefits from inherent network effects, mutual protection and support. AVG has grown its user base to 155 million active users as of June 30, 2013 and offers a product portfolio that targets the consumer and small business markets and includes Internet security, PC performance optimization, online backup, mobile security, identity protection and family safety software.

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