As part of the collaboration, Temasek and six of its portfolio companies have joined the Microsoft Accelerator (MA) program as official global network partners in the technology and innovation hubs of Bangalore, Berlin, Seattle and Tel Aviv.
Scott Coleman, General Manager, Microsoft, said, “This partnership is an excellent fit with our aspirations to help startups scale and go global, and is an excellent match to our alumni and companies in our programme. Microsoft is pleased to work with Temasek and its portfolio companies. Together, we look forward to matching great startups with strong established companies to drive digital transformation aligned with our cloud-first, mobile-first vision.”
The mentor-driven program provides startups with support to scale quickly, overcome challenges of launching a company, building the team, finding customers, and expanding into global markets.
The six portfolio companies of Temasek that are involved are: Real estate developers Ascendas and CapitaLand, venture lending platform InnoVen Capital, cyber-security provider Quann, engineering group ST Engineering, and investment company Fullerton Financial.
Ajay Hattangdi, Group COO and CEO India, InnoVen Capital said, “In our business of venture debt, we work very closely with startup companies at all stages. While our model of lending is really available only to companies that have raised their first institutional round, we are always trying to find new ways to engage with startups and provide some value beyond just providing growth capital funding. At a deeper level, we are very invested in the development of the entire venture ecosystem. The network partnership enables us to play a more direct role in contributing towards this objective. We like Microsoft’s philosophy of working with other corporates and the interesting platform they’ve built for startups and corporates to work together for mutual growth and benefit.”
This partnership will give the startups the ability to leverage subject matter experts, mentors, pilot programs, joint go-to-market initiatives and marketing support from Temasek and its portfolio companies.
In return, Temasek and its portfolio companies’ strong interest in innovation, disruption, and global investment will be served via connections with startups currently in the program, as well as through the alumni accelerated to date.
Incorporated in 1974, Temasek is a Singapore-based investment company. It owns a $194 Bn portfolio that is anchored in Asia and which covers a broad spectrum of industries: financial services; telecommunications, media and technology; transportation and industrials; life sciences, consumer and real estate; as well as energy and resources.
Temasek and its portfolio companies have identified urban solutions, IoT, artificial intelligence, fintech, cybersecurity, healthcare IT and digital media as key focus areas for this initiative. The startups handpicked for the programme will gain access to corporate mentors from a wide range of industries.
The immersive programme, lasting three to six months, culminates in a demo day, where the latest group of participants will present and showcase their company to investors and industry leaders for the opportunity to seek funding to further grow their business.
Startups interested in participating in Microsoft’s accelerators in partnership with Temasek and its portfolio companies can learn more about the programmes and apply here.
Prior to this in March 2016, Microsoft Ventures announced the names of 12 startups that were selected for its 8th Accelerator batch of its Hi-Po & Scale Up Program. The cohort was selected from over 2100 applications.
Earlier in February, HCL Technologies partnered with Microsoft to launch an Internet of Things (IoT) Incubation Center in Redmond, Washington, USA. The incubator will be designed to leverage Microsoft Azure IoT Suite to accelerate enterprise IoT adoption.