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.