Microsoft Ventures backs 19 Asian start-ups
Microsoft Ventures, a corporate VC arm of Microsoft, has selected 19 Asian companies for the fourth batch of start-ups entering its Beijing-based accelerator program.
The companies, coming from China, Singapore and Taiwan, cover areas including internet finance, consumer electronics, smart home and healthcare products, cloud services, media and broadcasting, and big data. They were selected from 420 applications.
"The fourth start-up class features businesses from diverse geographic locations such as Taiwan and Singapore, which speaks volume to the appeal and influence of the Accelerator," said Vanessa Gao, CEO of Microsoft Ventures Accelerator in Beijing.
"In the future, we will continue to expand the scope of recruitment to further energize the venture ecosystem in China and Asia."
The Microsoft Ventures Accelerator program was launched in Beijing in 2012, providing start-ups with free cloud services, workspace and direct market exposure. It also helps them through to the capital markets, offering marketing and human resources compliance services to support their growth.
A total of 47 start-ups have so far received entrepreneurship support. Each participant received an average of RMB1-1.5 million($165,000-248,000) worth of resources.
Microsoft Ventures also has accelerator programs in other cities, including Bangalore, Berlin, London, Paris and Tel-Aviv.
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