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Rackspace (RAX) To Launch UK Startup Programme To Fuel New British Businesses

 November 21, 2012 09:28 AM


(By Balaseshan) Rackspace Hosting Inc. (NYSE: RAX) said it plans to launch its Rackspace Startup Programme in 2013 to provide cloud computing resources to new businesses driving growth in the UK economy.

With a global track record of partnering with premiere startup accelerators and incubators in the USA and Australia, the firm now broadens its focus to include the EMEA region aiming to help power thousands of UK startups to success.

Starting as a ten man entrepreneurial venture itself back in 1998, Rackspace recognises the need to provide fledgling businesses harbouring great potential the enabling technologies for growth and commercial success.

[Related -Rackspace Hosting, Inc. (RAX) Q1 Earnings Preview: What a Difference $0.07 Makes]

The Rackspace Startup Programme therefore exists to provide low cost cloud hosting and support services to startup incubators who have identified cloud computing as a more efficient route to IT service delivery.

As a company that likes to refer to information technology as the "fifth business utility", Rackspace views cloud computing as a means of democratising access to powerful IT resources at every tier of the business spectrum.

As such, the Rackspace Startup Programme has been engineered from the outset to give incubators an unrivalled opportunity to drive startup firms towards development, expansion and commercial success.

Rackspace unveiled its Startup Programme at a ‘Boost Your Start-Up' networking event held in the heart of London's Tech City on November 20. The event featured a panel discussion with some of the most prominent thought leaders in this space, moderated by Robert Scoble, the world's pre-eminent blogger and evangelist on technology and start-ups.

[Related -Rackspace Hosting, Inc. (NYSE:RAX): Faces An Uphill Battle Amid Rising Competition]

Moving forwards, Rackspace expects to work with high profile accelerators including DreamStake and Springboard, to ensure that businesses across the UK have access to its Startup Programme.

RAX closed Tuesday's regular session up 1.30% at $65.39. The stock has been trading between $39.04 and $69.81 for the past 52 weeks.

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