Microsoft Launches BizSpark to Jumpstart Entrepreneurship

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Bangalore: Microsoft India unveiled Microsoft BizSpark – a global program designed to accelerate the success of IT entrepreneurs through software support and a vibrant ecosystem – in the country. BizSpark will provide Indian startups with software, support and visibility at a time in the lifecycle when they are most valuable and least affordable - during their first three years, with no upfront costs and minimal requirements. Microsoft BizSpark is structured to help startups take advantage of the resources and support of a global network of hundreds of organizations: economic development agencies, university incubators, hosters and investors. In India, the network partners include The Indus Entrepreneurs (TiE), NEN, Proto, NASSCOM; as well as venture capitalists IDG, who will facilitate access to technology and provide guidance, mentorship and resources. In addition, VCs Draper Fisher Jurvetson (DFJ), Helion Venture Partners, Accel Partners, and others, support the initiative. This is the first time that an entire ecosystem of stakeholders is coming together with Microsoft to enable a vibrant startup ecosystem in India.

BizSpark is part of the Microsoft Startup Accelerator Program that the company runs in India for software entrepreneurs to transform their ideas into reality through insights, software, tools, and opportunity mapping Microsoft BizSpark is available to all startups who are actively engaged in the development of software-based product or service that is a core piece of their business model. They need to have been in business for less than three years and should be privately held; and have less than USD1 million per capita revenue. A nominal USD 100 (INR 5000) program offering fee will be assessed when a startup exits the program, for instance after three years of participation, or due to going public or being acquired by a non-Startup company.