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Microsoft Ventures is accepting applications for the next batch of its Accelerator programme aimed at technology startups.
The Accelerator programme, the sixth by the venture capital arm of Microsoft, helps entrepreneurs by providing them with physical space and access to venture capital. Application to the new batch started on Friday, officials said. MS Ventures will begin the four-month Accelerator programme at Microsoft’s office in Bangalore by the end of January 2015 and their graduation will coincide with Think Next event in June 2015. Think Next will give the startups an opportunity to showcase their ideas to industry investors and mentors from India and abroad as well as the leadership team of Microsoft Ventures.
Ravi Narayan, Director, Microsoft Ventures in India, added that along with the access to Microsoft technology, mentors and investors, we also provide opportunities to our startups to connect with customers, partners and world class entrepreneurs. Santosh Panda, founder of Explara, said that the biggest advantage of this programme is that companies can always keep coming back after a batch concludes, coupled with continued support from Microsoft.
“Conducting sessions with top entrepreneurs and alumni batches to help them build top line products in an accelerated fashion is also on the agenda,” he added.
Narayan also pointed out that 82 per cent of the companies incubated by MS Ventures from its four previous batches, received funding within a year and three of them got acquired. Bookpad, a company incubated by Microsoft Ventures, was acquired by Yahoo a few weeks ago.
The current batch of startups at the Accelerator, have participants from Singapore, Australia and the US and are expected to graduate in November this year, according to Microsoft officials. Some of the ventures who were part of the last batch include CryptoPhoto, DabKick, Fairket, FlatPebble, NiftyWindow, Playblazer, RHLVision, AppKnox, DeltaX, ProHance, Tallenge and TruTech.
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