Microsoft
Ventures announced the graduation of 11 technology startups from the
fifth batch of its Accelerato Program. At a Demo Day organized here
today, an audience of 900 plus industry influencers, venture
capitalists and angel investors witnessed the accelerated progress
made by CryptoPhoto, DabKick, Fairket, FlatPebble, Nifty Window,
Playblazer, Appknox, DeltaX, ProHance, Tallenge and Trutech during
the last four months at the Accelerator Program. Demo Day was part of
day-long proceedings which included a new set of Think Next
initiatives being announced as well.
Congratulating
the graduating companies, Ravi Narayan, Director, Microsoft Ventures
in India, said: “This batch has made considerable progress during
the four months with us, with seven of the 11 closing deals with
clients outside India. Overseas VCs and investors are showing keen
interest in our startups. It’s really heartening to see how
our efforts are paying off in helping our startups get recognized at
a global level. We are now gearing up to welcome our sixth batch, due
to start early next year. Applications are coming in, and many are
from international startups.
Tzahi
(Zack) Weisfeld, Head of Microsoft Ventures Global Accelerators, who
was present at the event, said: “Microsoft Ventures is committed to
catapult startups from a napkin sketch stage to becoming
international sensations. Over the course of the last two years, we
have set up Accelerator programs in seven countries and forged more
than 200 partnerships with local accelerators, incubators and other
players in the ecosystem. My interactions with our startups and
industry partners have given me some firsthand learning’s and
comparative insights into the global startup ecosystem.”
Elaborating
further, Zack said: “Every startup ecosystem is unique—in
opportunities, challenges, culture and therefore in its level of
maturity. While India still has a way to go before it catches up with
either Silicon Valley or Israel on the startup ladder, I can see a
lot of very positive changes happening here. Some very interesting
ideas are emerging from India, which startups in US or Israel would
never have perceived as a business worth pursuing. Innovative
startups, backed by experienced as well as new founders are emerging
in new technology areas, focusing on deep domain solutions. Some of
them are right here in this batch, which graduates today. I have been
tracking their progress over the course of the program, and am
pleased at what they have achieved so far. I wish them all the very
best in their journey ahead.”
Sharing
his experience, Venkatesan Seshadri, CEO, FlatPebble, said: “Our
four months in the Accelerator Program was a period of intense focus
which helped us grow demand for our services 700 per cent and expand
our offerings, thanks to the mentorship, enabling infrastructure and
helpful peers. We are really happy we got this opportunity to
accelerate our dreams.
The
11 startups which graduated will join the 63 strong alumni network of
Microsoft Ventures in India. While their four month stay at the
Accelerator Program ended today, it also marked the beginning
of another life-long association. As alumni, they will continue to be
supported by the Microsoft Ventures team, both in India and abroad,
as they work on customer connect and technology advancement.
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