Microsoft Launches BizSpark to Jumpstart Entrepreneurship

Businesswire India
Posted: Wednesday, Dec 17, 2008 at 1314 hrs IST
Updated: Wednesday, Dec 17, 2008 at 1314 hrs IST

Font Size

Feedback

Discuss

TERI BCSD India Member Corporates reiterate their ...Over 500 firms displayed their innovative products...Rediff.Com reports results for the 2nd Quarter End...Delta received the BSNL award for best telecom equ...

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.

Commenting on the rationale behind BizSpark as well as the intended impact, Moorthy Uppaluri, General Manager – DPE, Microsoft India, said, “We do believe India is at that inflection point and if it has to move up the value chain in the global knowledge economy, then the entire ecosystem has to innovate: Innovating for India is the critical need of the hour. BizSpark is about helping startups succeed – and thereby, enabling the growth of local innovation in India. Sheila Gulati, General Manager, Microsoft Corporation Pvt Ltd, who was here in India to launch the program, added, “The fact that the suite of software comes at no cost to the startup takes care...

Post Comments

Comments: (Limit 3,000 characters)

Name		Message
Email ID
Subject

TERMS OF USE:
The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).

I agree to the terms of use.