Gigabit Squared, a start-up based in Ohio, announced it would bring gigabit broadband speeds to six communities across the country through a new program that has secured $200 million in funding.
The Gigabit Neighborhood Gateway Program will be in partnership with Gig.U, a group of more than 30 research universities across the country, and will bring the select communities Internet speeds "from 100 to 1,000 times faster than what Americans have today," according to a statement released Wednesday.
"To see Gigabit Squared emerge so strongly today proves that yes, America needs an upgrade; and that yes, there are innovators and investors willing to step up to get it done,” said Blair Levin, executive director of Gig.U.
The chosen communities will be announced between November 2012 and March 2013. Once in place, the program will offer those locations broadband services at a competitive price, the statement said.
"At the center of the Gigabit Neighborhood Gateway Program is the idea that communities and their local stakeholders can drive economic opportunities through private investments that leverage public capital that will accelerate the deployment and utilization of gigabit speed networks," the press statement said.
That idea will be exemplified by demonstration projects in each of Gig.U's communities.
“In order to realize true economic revitalization, we’re urging our national and community leaders to think and act in more creative ways," said Mark Ansboury, president of Gigabit Squared. "And we’re backing those efforts with significant investment of our own.”