 "Bus tickets to car rental service: Here's who made the cut for Microsoft's accelerator programme")
Startup accelerator Microsoft Ventures today released the list of Indian startups selected to participate in the 2014 summer accelerator program.
The accelerator program enables entrepreneurs to launch their company through an immersive three to six month workshop. Startups accepted into the programs gain access to business mentors, technical and design experts, office space and resources to help entrepreneurs quickly scale their business.
This year’s class includes Appointy, App Virality, Bookpad, Boutline, Imly, InstaSafe, IntouchApp, Metaome, Sliderule, Voonik, MyBusTickets.in, Praxify, Thinxtream, Touchfone, ZingHR and Zoom.
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Of these 16, six have been chosen for the newly launched accelerator plus program which focuses on startups that have customer traction and know their market. The six companies are:
MyBusTickets.in - anonline and mobile bus ticketing portal.
Praxify - a digitalplatform that unites various elements of healthcare, from patients, doctors, hospitals to blood banks, labs and pharmacies.
Thinxstream - asoftware company, with products for device management, print and media applications, and software services for a wide range of industries.
Touchfone - a mobile-focused startup that develops platforms and products for the same.
ZingHR- The company’stechnology uses Cloud solutions in most aspects of HR management.
Zoom - amembership-based, self-drive car rental service which allows individuals to hire cars by the hour or by the day.
Explaining the rationale behind the Accelerator Plus Program, Ravi Narayan, Director Microsoft Ventures, said: “This program is for more mature companies which are closer to VC funding. Most of them have made significant progress, so much so that the startup ecosystem is taking their eyes off them. But we at Microsoft Ventures feel this is the time they need the most help, when from an investor standpoint they are getting ready to graduate into the mainstream.”
At the end of the program, Microsoft organizes an Investor Demo Day where company executives as well as angel investors, venture capitalists and industry leaders listen to startup pitches.
Microsoft Ventures in India has graduated 35 startups since August 2012. About 80 percent of these are funded (the average funding amount is $115,000) and two graduates, Adepto andPlustxt, have been acquired.