MILPITAS, CA -- Flextronics today announced the creation of an accelerator business to support companies working on early-stage, disruptive technology in hardware and software. The new program will provide both financial and services support to startups with less than $5 million in funding.

Lab IX is co-located in Milpitas with Flextronics' Product Innovation Center announced earlier this year. The site features office and shop space, new product introduction services, design and advanced engineering support.

As part of the program, Flextronics will offer grants of $500,000 to certain companies to help them develop their ideas.

"We are excited to offer Lab IX services to help growing technology companies take their products to market and the next level," said Mike McNamara, CEO of Flextronics. "We believe that engaging with game-changing companies at an early stage will not only benefit Flextronics, but will provide those companies with the ability to leverage a wealth of experience in hardware design, manufacturing and logistics from all of the Flextronics business units and specialized partners in an unprecedented scale."

Lab IX will focus on applicant companies with less than three years of product development and comprise small teams of technically-minded leaders.

The new lab will also be located with Multek's Interconnect Technology Center.

Ed.: Read the interview with Multek president Franck Lize and CTO Bill Beckenbaugh here.

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