BELLEVUE, Wash.-Several former executives of Microsoft Corp. and McCaw Cellular have joined other wireless industry pioneers to form Ignition Corp., a holding company designed to fund, mentor and help build wireless Internet start-up companies.
Ignition has raised an initial $140 million toward this effort from investors including Qualcomm Inc., Softbank Venture Capital and Madrona Venture Group. The company’s leaders include Steve Hooper from McCaw Cellular, Kathy Iskra from Nextlink and eight former Microsoft executives, including Cameron Myhrvold and Brad Silverberg. Silverberg will serve as chairman and chief executive officer.
“We are people who identified and made big bets on the technology tidal waves of the 90s: the PC, wireless and the Internet,” Silverberg said. “We believe the next tidal wave is the wireless Internet. Like the tidal waves before it, the wireless Internet will fundamentally change the way we live, work and communicate. We’re eager to work with entrepreneurs to develop great software and solutions that will power the wireless Internet revolution.”
The company said it will attract, invest in and develop emerging wireless Internet related companies globally, offering access to its technology, business development, marketing, strategic and operational experience.
The company’s board of directors include Irwin Jacobs, executive vice president of Qualcomm and Gary Rieschel, president and CEO of Softbank. Its advisory board includes members from Amazon.com, Madrona, Venture Group, Microsoft, Nextlink, Strategic News Service, Qualcomm, Real Networks, Tellme Networks, the University of Washington and Valve L.L.C.
