Microsoft joins hands with Mumbai institute to launch design accelerator
The accelerator, aims to start with 12 startups in its first batch, will not take any equity, and instead charge fee startups Rs 5,000 per seat.
In a bid to boost design among startups, Microsoft Ventures has collaborated with Indian School of Design and Innovation (ISDI) to set up what it claims to be "world's first design accelerator." ISDI Creative Accelerator, powered by Microsoft Ventures, is a pan India initiative to catalyze the country’s technology startup ecosystem with design and innovation expertise.
The three-year partnership allows ISDI and Microsoft Ventures to bring together key stakeholders - academia, students, entrepreneurs, investors, and corporates at the ISDI Creative Accelerator.
Bhaskar Pramanik, Chairman, Microsoft India, said: “Design is core to Microsoft’s experiences, and an integral aspect of many industries. We believe it is critical for us to nurture this ecosystem. In this spirit, we are delighted to join hands with the renowned ISDI to establish a design accelerator for startups. This unique partnership between Microsoft India and ISDI will bring together the best of technology and industry expertise to contribute to the growth and success of design entrepreneurship in the country.”
The accelerator will include a creative workspace in its innovation facility in Mumbai and access to design-innovation resources including makerspaces, coaching in design, access to design mentorship, and operational support in design.
The ISDI Creative Accelerator will provide the opportunity to a select group of entrepreneurs to launch or re-design their company through a six-month-long programme merging design, technology and business innovation.
The accelerator will focus on startups working in areas including, smart cities, IoT, health, food, chat, video, location-based services, gaming, virtual reality, media and more.
Microsoft Ventures will help ISDI identify, shortlist, on-board promising startups and power the accelerator programme. Microsoft Ventures will also provide these startups access to software and technology advice.
At the end of the accelerator programme cycle, ISDI will invest strategically and selectively in some of these IT startups.
The ISDI Creative Accelerator is now open to receiving applications for the accelerator programme. The last date for receiving applications is July 25, 2015. The programme will commence with the first batch of startups on August 16, 2015.
The accelerator, which aims to start with 12 startups in its first batch, will not take any equity, and instead charge startups Rs 5,000 per seat.
Subscribe to Moneycontrol Pro at ₹499 for the first year. Use code PRO499. Limited period offer. *T&C apply
Candidates should have passed the Class 12 examination from a recognised board or its equivalent with physics, chemistry and biology to be eligible to apply
Microsoft will be working with EU on a solution to “mandate payments” for use of news content from online “gatekeepers with dominant market power.”
Australia passes media law that requires tech firms to pay for news: Will the system be replicated globally?
The Australian law is seen as a potential model for companies around the world who have seen their advertising revenues decimated by the rise of internet platforms.