New Microsoft and Invest India partnership – What does it mean for tech startups?
Microsoft, a multinational technology company based in the United States, has partnered with Invest India, India’s national investment promotion & facilitation agency. This partnership will help support Indian tech startups. Microsoft for Startups will be working with the Government’s Accelerating growth for New India Innovations Mission (AGNIi Mission), which is a program of the Office of the Principal Scientific Adviser to the Government of India that assists these startups to develop as enterprise-ready.
The firm has already onboarded 11 startups from various fields to the Microsoft for Startups program, including e-mobility, financial services, and agriculture. The Microsoft for Startups program offers benefits such as access to Azure credits and support for technology and business growth, which are aimed at scaling startups.
The role of Invest India in the local start-up industry
Invest India, the National Investment Promotion and Facilitation Agency of India is the first point of contact for Indian investors. Invest India is changing the country’s investment environment by making it easier for investors to do business. The advisors are experts in different countries, Indian states, and industries. They help investors navigate the entire investment process, from pre-investment through to after-care.
Invest India’s experts offer multiple support options, including market entry strategies, deep-dive analysis, partner search, location assessment, and etc. The individuals in the country can get information literally about anything connected to financial sectors, trading and investment opportunities. They can get involved in programs ranging from lessons on market analysis or personal finance planning to Forex trading with economic calendar or advocacy with decision-makers. Invest India was established as a non-profit venture by the Department of Industrial Policy and Promotion of the Ministry of Commerce and Industries of the Government of India.
Invest India’s history can be described using 9 critical success factors (CSFs). These are the key elements that show how the agency has responded to its problems and now delivers sustained success. This is evident by USD 31 billion in FDI and nearly 303,900 new jobs. Invest India was a key contributor to India’s outstanding FDI performance in 2020.
The country achieved another record of USD 64 million, compared with a global drop of 35 percent (UNCTAD 2021). While there are still challenges, Invest India’s experience provides valuable lessons for other investment promotion agents (IPAs) that, in the context the Covid-19 crisis is causing, will need to undergo a period of reform and review.
Which startups will receive the assistance under the partnership?
In total, Microsoft has chosen 11 startups for the given time frame to cover under the program together with Invest India. Select startups will have the opportunity to use Microsoft technology such as Azure, GitHub, and M365. They can also access personalized technical sessions and content, mentorship, and mentoring for their businesses. They will have access to Microsoft’s Azure Marketplace, the enterprise sales team, and the rapidly expanding partner ecosystem in order to develop and implement their go-to-market strategies.
We will briefly introduce a few of the prominent startups that were shortlisted by Microsoft. The first one is Amplearth Packaging and Systems, a company offering a design, manufacture & manage large scale FMCG packaging. The second is Daybest Research which is an innovative tool utilizing the Internet of Things, machine learning, and blockchain technologies. The third one is a cybersecurity venture Arishti Cyber Tech which offers security systems to corporations. Go Buzzr is the smart beehive monitoring system and Wheel, one of the newest blockchain PaaS startups that focuses on Warehouse Receipt Finance.
Indian startup market in 2021
According to a report from Nasscom-PGA Labs, Indian startups raised $6.5 billion during the quarter of April-June 2021. 11 startups were granted entry into the coveted unicorn club. The June quarter saw $6.5 billion in funding, an increase of 71% quarter-on-quarter. According to the report, Swiggy was the largest deal in the quarter, raising $800 million. Next came ShareChat ($502million), Byju’s (340 million), PharmEasy (323 million), and Meesho (300 million). Fintech was the most capitalized sector accounting for 27% of the total deal value during the quarter.
For marriage, family, love, job/promotion. Goodluck in your business/lottery, court cases, diseases and other Spells kindly call Kiwanga Doctors on +254 769404965 or >>>> CLICK HERE.
The post New Microsoft and Invest India partnership – What does it mean for tech startups? appeared first on iHarare News.