Microsoft on Wednesday announced that the company has signed on about 70 Indian startups for its BizSpark programme that it said gives budding IT entrepreneurs a set of technologies of the company at no charge.
Positioned as the Microsoft Startup Accelerator programme in India, company officials said BizSpark would give fast and easy access to Microsoft's current development tools, platform technologies and production licenses to IT entrepreneurs at no cost.
In India, the network partners of the programme are The Indus Entrepreneurs (TiE), NEN, Proto, NASSCOM and venture capitalists IDG, which would facilitate access to technology and provide guidance, mentorship and resources, the officials said.
"BizSpark is about helping startups succeed and thereby enabling the growth of local innovation in India," General Manager - DPE, Microsoft India, Moorthy Uppaluri, told a news conference here.
General Manager, Microsoft Corporation Pvt Ltd, Sheila Gulati said "all in all, we visualise BizSpark as providing the budding entrepreneurs with the tools and connections they needed to build successful businesses."
To avail the programme, startups needed to be in business for less than three years and should be privately- held and have less than $1 million per capita revenue.
IDG Ventures, CMD, Sudhir Sethi said the venture capital fund expects to interact with more than 500 participants over the next few months, and added its looking forward to provide them access to early stage funding, as well as business support.