09 Jun. 16, BENGALURU: Microsoft returns to funding start-ups, the practice which they had brought to a halt during early 2014.
The company marked its return on Wednesday after they raised funding for Pune base start-up, Helpshift.
Microsoft also announced a global tie-up with Temasek, a Singapore-based investment firm to assist and scale start-ups affiliated with Microsoft Accelerator. Microsoft runs seven accelerators around the world along with the one in Bengaluru. Temasek will work with four of these seven accelerators namely, Bengaluru, Seattle, Berlin and Tel Aviv.
According to a blog in Microsoft website by Nagraj Kashyap, who will be heading the ventures stated, “We help early stage companies with tools, technology and consulting through Microsoft Accelerator. And at the other end is where you will typically see our larger investments and acquisitions. Ventures now fills a gap we’ve had somewhere in the middle of that range.”
According to sources and reports by TOI, General Manager of Microsoft Accelerator Scott Coleman said “One of the most important benefits that Microsoft brings to start-ups are business relationships. This strategic partnership gives the start-ups the ability to leverage subject matter experts, mentors, pilot programmes, joint go-to-market initiatives and marketing support from Temasek and its portfolio companies.”
The Accelerator will also gather more attention from global headquarters, going by the agreement with Temasek, which has invested in Indian start-ups.