Microsoft announced 10th accelerator Programme with late stage 14 B2B startup companies.
The tech giant Microsoft announced its 10th Accelerator programme with 14 B2B startups. Out of 1,300 applications, it has selected 14 B2B startups. The main purpose of this programme is to help to increase their enterprise readiness. The selected 14 startups will go through the three-month intensive program at the Microsoft Accelerator in Bengaluru.
All the 14 startups have common thing among them they all have an artificial intelligence and machine learning startups or have some elements of the same as a core part of their product offerings.
“This is our 10th batch ‘Summer’17 Cohort’, and from this year, we will be concentrating on B2B startups, and help them enhance their enterprise readiness and go-to-market strategies,” said Microsoft Accelerator India CEO in Residence Bala Girisaballa.
The 14 selected startups are:
- Lavelle Network
- WittyParrot and
The 14 startups selected for the programme are of series stage mature business and seed-stage startups. Seven of the startups including Sigtuple and Karomi are among series stage mature business and at an average annual revenue rate (ARR) of $1.5 million and an average funding of $3.2 million. The seed-stage companies, selected for deep-tech driven offerings, have an average annual revenue rate of $200k and an average funding of $1.5 million.
The startup system has matured over the years, and there are number of B2B startups, as they are finding businesses scalable compared with the B2C space.
“We are opening up the doors for these late-stage startups to network and make decisions quicker, among others. All these 14 startups will be adopting Microsoft’s Azure cloud to make use of advanced cloud services in fields such as — Big Data, IoT, Advanced Analytics and Cognitive Services to scale their products,” said Girisaballa. All the 14 startups will also work closely with Microsoft’s sales and marketing teams, and its partners in India and across the world.