Bengaluru-based Microsoft Accelerator has selected 14 startups for its startup accelerator programme. It is the tenth batch for Microsoft’s Accelerator Programme.
Selected startups belong to the realm of AI and machine learning and will undergo an intensive programme to increase their ‘enterprise readiness quotient.’
The cohort has been selected from VC portfolios – including Inventus Capital Partners, Ideaspring Capital, Accel Partners, IDG Ventures and Pi Ventures, based on their nominations.
They were selected based upon founder experience and industry expertise, products, and traction, as per an official statement. They will also work closely with Microsoft’s sales & marketing teams and partners including Wipro, TCS, and Temasek, to take their products to businesses in India and around the world.
The startups will also adopt Microsoft Azure, to make use of its advanced cloud services in areas such as – big data, IoT, advanced analytics and cognitive services to scale their products.This move is in conjunction with Microsoft Accelerator’s new curriculum for market-ready startups that aims at increasing revenues and market opportunities.
As per an official statement, 7 of the 14 selected startups have an average annual revenue rate (ARR) of $1.5Mn, and average funding of $3.2Mn. The Seed-stage startups chosen for their deeptech driven offerings have an average ARR of $200K and an average funding of $1.5Mn.