Microsoft Ventures in India today announced the fifth batch of 12 technology start-ups that will constitute the Winter (July-November 2014) batch of its Accelerator Program.
Microsoft Ventures in India today announced the fifth batch of 12 technology start-ups that will constitute the Winter (July-November 2014) batch of its Accelerator Program. CryptoPhoto, DabKick, Fairket, FlatPebble, NiftyWindow, Playblazer, RHLVision, AppKnox, DeltaX, ProHance, Tallenge and TruTech have been selected after several rounds of shortlisting from the original list of 1300+ applications received for this batch.
The applications were a mix of B2C and B2B companies in various technology fields, and also included few international start-ups. Three of them, namely CryptoPhoto, AppKnox and DabKick are from Australia, Singapore and the US, respectively.
Welcoming the fifth batch, Ravi Narayan, Director, Microsoft Ventures in India, said: “As Microsoft Ventures grows another batch wiser, we’ve been seeing a trend of more and more diverse companies and ideas coming into our program--ideas that challenge us to work harder to be able to help our start-ups grow inorganically. For the first time in the history of our Accelerator, the current batch will have a start-up from the gaming industry, namely Playblazer. Simultaneously we have TruTech, which is into gesture control and works with existing operating systems and devices to make them gesture compatible. We are excited to see how this batch develops over the next four months, as well as in the years to come.”
Going forward, Microsoft Ventures in India will also put more focus on its alumni program. Through several initiatives, such as providing the Accelerator alumni participation opportunities in key events, customer acquisition programs, etc, Microsoft Ventures will help them build stronger and deeper contacts with the industry.
Welcoming the new batch, Sujayath Ali, CEO, Voonik, an alumni from last batch, said: “Being part of Microsoft Ventures was one of the turning points for our company. The team pushed us to think big and expand our horizons. Even today, if there is any key decision that we have to make, the first call goes to the Microsoft Ventures team.”
Microsoft Ventures in India has graduated four batches comprising 51 start-ups since the Accelerator program commenced in August 2012. Out of these companies, 82 per cent have been funded within a year of being in the program, and two of the graduates, Adepto and Plustxt, have been acquired.
Sudhir Sethi, Founder & Chairman, IDG Ventures India, said: “Microsoft Ventures has established itself as a key player in the Indian start-up ecosystem. The Accelerator program brings together young, high potential start-ups aiming to take their companies to the next level, and allows IDG Ventures India to discover and engage with some truly innovative ideas and world class teams. I look forward to Microsoft Ventures increasing its foot print in India multi fold in the coming years.”
Over the last one year, Microsoft Ventures has also been focusing on strengthening its partnership with industry bodies which are passionate about boosting India’s start-up ecosystem. TIE, NASSCOM, iSPIRT and Startup Village are some of these organisations which have also referred some of the start-ups in the current batch.
Sanjay Shah, Fellow, iSPIRT, said: “It’s great to see the leadership role Microsoft Ventures is playing to boost the Indian start up ecosystem, by coordinating with various industry bodies to create a strong entrepreneurial network. I am glad to see the backing Microsoft Ventures provides product companies from India and this part of the world. For those of us who are very keen to see a mature Indian software product industry, it is certainly very heartening. The quality of the ideas and maturity of the entrepreneurs I saw in the latest batch of Accelerator is great testimony to the excellent work done by Microsoft Ventures.”