Microsoft Ventures, a technology startup accelerator, by software giant Microsoft, announced the launch of a new corporate engagement initiative called Innovation for Corporates (ICI). The new initiative aims to work with enterprise based startup businesses to innovate and drive growth.
Innovation for Corporates offers three programs titled MAP, PIA and Hi-Po. The Market Access Program (MAP) will bring startups and enterprise businesses together to work together. The Partner in Acceleration (PIA) program allows corporates to know their resources and network to set up their own engagement with startups. The High potential (Hi-PO) program works with top startups backed by corporates to build them into stronger business respectively.
Ravi Narayan, director of Microsoft Ventures in India, said “We have been working with various corporates for years to help them with their business problems with innovation from startups.” He says that many enterprise businesses are looking at Microsoft for guidance.
Over the last three years, Microsoft Ventures in India has built a portfolio of 74 startups through its program, with an impressive $500,000 average funding and four exits till date.
Microsoft has also partnered with Reliance Industries for their accelerator program, GenNext Innovation Hub. On the partnership Vivek Rai Gupta of GenNext Venture fund says, “We have been able to mentor the startups and help them gain traction very fast.” It also partnered with NASSCOM’s 10,000 startups program.
Tyler Bryson, general manager for marketing and operations at Microsoft India, told Businessworld that the culture of innovation at Microsoft is driving excitement and enthusiasm across the ecosystem.
The new series – Think Next Talks, bringing speakers from across the industry and cultural spectrum to discuss how the innovation can improve work and life.
Think Next 2015 saw over 400 CXOs from leading corporates and the conclave witnessed the top technology products in the country and the graduating Summer 2015 batch- AdPushup, Frilp, iReff, DailyRounds, Uninstall, iBot, FortunePay, Customer XPs, FlamencoTech WAGmob and Gazemetrix.