In what will be yet another shot in the arm to the startups in India or to the startups in the state of Telangana to be precise, the world’s leading IT giant, Microsoft, has joined hands with the Telangana Government (T-Hub) to launch a three month accelerator program for the startups in the state, which are in their growth stage. Microsoft will run the accelerator program from ten startup incubation centers in the state. Only ten startups will be selected among the thousands for this accelerator program. Microsoft signed this three – month accelerator program with T-Hub yesterday (26/11/2017). Read more on Telangana
“We are looking at growth stage start-ups (those which have developed a product or service and which are earning some revenues) for the accelerator program. We will funnel the applications to ten in order to give a focused mentorship”, Jay Krishnan, Chief Executive Officer (CEO) of T-Hub, said.
Jay Krishnan added that the Telangana government would strive to improve startups in the state, especially the ones belonging to fintech, agritech, health tech, artificial intelligence and machine learning sectors by 2020. Apart from offering the ten selected startups technology tools and solutions, Microsoft will also offer them advice/solutions, through its expert sales team, on how to market their products or services to fetch maximum revenue.
The other Telangana – based startups that got funded this year (2017) include the agritech startup FarmLink which secured US $3 million in seed round of funding from Pioneering Ventures and agrochemical company, Syngenta, during November, this year. The healthcare startup, Celes Care raised US $1.5 million in Pre Series round of funding from Ventureast, Endiya Partners, Eight Roads Ventures, F-Prime Capital Partners, Dr. Varaprasad Reddy and other preeminent investors during March, this year. The AI startup, Botworx.Ai raised US $3 million in seed round of funding from Costanova Ventures and SV Angel Investors during February, this year (2017) just to name a few. Read more on Startup News