Microsoft Accelerator betting on late stage start-ups now

Microsoft Accelerator betting on late stage start-ups now

Posted by M.Venkatesh on August 29th 2017

According to a report published in The Hindu recently, Microsoft, the world's biggest software maker, is changing its strategy to engage with start-ups. The company which launched its accelerator in Bengaluru five years ago to support early stage firms is now betting big on late-stage start-ups. Microsoft Accelerator said that it has selected 14 late stage start-ups in its 11th cohort to help them boost their enterprise readiness and go-to-market activities. Some of these include Simplilearn, Hotelogix and Ace Turtle.

 
The average age of start-ups of the fresh cohort is over three years and they have raised, between them, close to $64 million in funding till date, according to Microsoft.
 
“We have the ability to open them (startups) up to Fortune 1000 companies. But when you put them in front of a customer (like a large bank), they can't be early stage. Slowly we started moving to late-stage companies,” said Mr. Girisaballa CEO -in-Residence Microsoft Accelerator-India

Profiles of some start-ups who benefited from the Microsoft Accelerator program
 
Talview - Sanjoe Tom Jose, co-founder of Talview, a talent assessment technology solutions provider, said that Microsoft introduced the firm to some of its largest enterprise customers in the U.S including Bank of America, Starbucks and specialty beauty chain Sephora. The company which was founded in 2012 and has offices in the US, Singapore, and India has globally processed over a million candidates till date.
 
CloudCherry - CloudCherry, a customer experience management product company, said it sought the help from the tech giant to win a deal from a large customer in U.A.E. The company which was founded in 2013 is backed by investors such as Vertex Ventures, IDG and Cisco Investments.
 
CustomerXPS - CustomerXPS, a company which helps banks detect and avert fraud using artificial intelligence joined the accelerator after seven years of inception. The firm had already captured a major portion of the Indian market & wanted to go global. It got its first break outside India in the form of a technology partnership with one of the banks in Jamaica which was taking data onto the cloud. 

 

 

 

 

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