Bangalore, India, April 1, 2014: Microsoft India today announced the opening of applications for the fifth batch of Microsoft Ventures Accelerator in Bangalore, India. Starting April 1, till June 10, Microsoft will receive online (http://aka.ms/MVABangalore) applications from technology startups.
The first list of 50 shortlisted companies will be announced soon after closing of applications in June, and they will be invited for a face-to-face session with a jury panel. The final list of startups, which will make it to the winter batch of calendar year 2014, will begin the four-month acceleration process at the state-of-the-art Microsoft office in downtown Bangalore on July 23, 2014 and end with a Demo Day in November when the startups will showcase their ideas to key industry influentials, top angel investors and VCs.
Inviting applications for the new batch, Ravi Narayan, Director, Microsoft Ventures in India, said: “Our Accelerator is turning out to be one of the most competitive programs in this part of the world, with hundreds of startups wanting to be part of it. The visibility, reach and intensity of the program drives startups to achieve tremendous progress during the four months of the program. Startups mature the business model, acquire deeper market traction and build world-class products in an accelerated fashion.”
For the fifth batch, Microsoft Ventures is looking for a mix of Indian and international companies—Indian startups which are ready for the next stage of accelerated growth and want to have access to global markets as well as international companies that are interested in Asian markets. Young companies, which are at ideation stage and are extremely high potential, will also gain from the program.
Elaborating further, Narayan said: “We will work closely with our industry partners, mentors and panel of jury to identify exceptional technology entrepreneurs who are solving big problems at scale, both for India and global markets. We welcome all technology startups, from India and abroad, to send in applications. The process is quite simple. All you need to do is apply online (http://aka.ms/MVABangalore) and if you have any doubts/ queries just read up the FAQs. We will also be conducting workshops and coffee meet-ups at various Indian cities where we will meet startups and startup aspirants and answer their questions. Keep watching our Facebook page (https://www.facebook.com/microsoftventuresinindia) for updates on dates of meet-ups.
Microsoft Ventures Accelerator is a key part of Microsoft Ventures, Microsoft’s three-pronged initiative to offer startups a single point of entry to engage with Microsoft. Apart from the state-of-the-art workspace and access to Microsoft technology and technology mentors, each batch goes through a rigorous, intense and structured four-month program. Microsoft and industry mentors provides startups with hands-on expertise in key areas they need help on most—namely technology architecture, user experience/ design, product roadmap, business model development and connections with early adopters. Each startup pursues three tracks simultaneously – customer development, product development and deepening market traction. The Accelerator Program team tracks their progress every week, and shares the report with mentors who provide them valuable feedback.
Microsoft Ventures Accelerator in Bangalore hosts two batches a year, from July-November and January-May. The summer batch of 2014, which is the current batch of startups being accelerated, will graduate on May 23, 2014. The first three batches saw 36 companies graduating from our program after achieving three times customer traction on an average. Around 82% of the companies also received funding.
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About Microsoft India:
Founded in 1975, Microsoft (NASDAQ “MSFT”) is the worldwide leader in software for personal and business computing. The company offers a wide range of products and services designed to empower people through great software – at any time, any place and on any device. Microsoft Corporation (India) Private Ltd is a subsidiary of Microsoft Corporation, USA. It has had a presence in India since 1990 and currently has offices in nine cities – Ahmedabad, Bangalore, Chennai, Hyderabad, Kochi, Kolkata, Mumbai, New Delhi and Pune.
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