Microsoft Ventures in India has announced its final list of technology start-ups that will be a part of its summer batch of accelerator program for 2014.
Microsoft Ventures in India has announced its final list of technology start-ups that will be a part of its summer batch of accelerator program for 2014.
The final list of 16 start-ups include - Appointy, App Virality, Bookpad, Boutline, Imly, InstaSafe, IntouchApp, Metaome, Sliderule, Voonik, MyBusTickets.in, Praxify, Thinxtream, Touchfone, ZingHR and Zoom.
Six of these companies, namely MyBusTickets.in, Praxify, Thinxstream, Touchfone, ZingHR and Zoom, will constitute the newly launched Accelerator Plus Program, which is tailor made for startups that have customer traction and know their market fairly well, whose needs are vastly different from early stage companies.
Ravi Narayan, Director of Microsoft Ventures, welcomed the new start-ups and explained the rationale behind the startup accelerating programs. “The good thing about this batch is that most of these companies already have a certain amount of customer traction and the Accelerator Program is well positioned to step in and help them move ahead faster than they would have otherwise. We saw a lot of great applications this time around, which means the startup ecosystem is evolving rapidly".
Explaining the rationale behind the Accelerator Plus Program, Narayan said: "This program is for more mature companies which are closer to VC funding. Most of them have made significant progress, so much so that the startup ecosystem is taking their eyes off them. But we at Microsoft Ventures feel this is the time they need the most help, when from an investor standpoint they are getting ready to graduate into the mainstream. Microsoft Ventures is uniquely positioned with resources to help these companies to roll out products and raise serious capital to fund their growth.”
Microsoft Ventures in India has been working since August 2012 and have backed about 3 dozen of startups.
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