Ravi NarayanGlobal Director, Microsoft Startup Growth Partners
One of the most valuable insights we gained from our fifth and most recent batch of graduates is that advanced startups have a stronger appeal in the marketplace. Their maturity enables them to secure a much higher level of customer traction across a variety of global markets. Seven of the eleven startups that graduated from the Microsoft Ventures Accelerator in Bangalore on November 25th are already closing deals with international clients, and the rest are not far behind.
Here’s what one of the thought leaders who attended Demo Day—held during Think Next—had to say:
“The way Microsoft grooms each graduating batch into matured, polished companies is very unique in the startup ecosystem today. They make it so easy to meet the right startups who are aligned to our vision at a platform like Think Next.” – Karthee Madasamy, Managing Director, Qualcomm Ventures
At Demo Day, graduates presented their companies to an audience of over 750, with another 2000 individuals attending through the live stream. These startups are already off to a great start and are seeing good traction from customers and investors, both in India and overseas.
In fact, most of them had interested investors lined up by end of the evening!
Our fifth batch is the first to benefit from our newly restructured accelerator program. Throughout the program, there was an increased focus on helping these startups master Traction Management as well as increased interaction with advisors and mentors. In last four months, these companies have grown significantly in technology, team and clientele.
Here’s where they stand today:
Startup Stats when they joined the Bangalore Accelerator
Stats by graduation
Beta product; 50 developers
Public launch; Go-to-market plan; 5 paying customers, 15 more in pipeline; 150 developers
Beta product; 2 pilots
Pivoting to monetizing authentication from pure security play; 8 pilots
700% growth to 500+jobs/month; transactions worth INR 10mn
5 beta customers
15 brands, 15k paying stores
2 Appstore featured games live
3 new games, 5 more in pipeline
$1mn/month ad spends; 55 brands
$1.6mn/month ad spends; 100+ brands
Initial traction. Sales in India
30,000 users, launching US sales
V1 product, early traction
V2 launched; 100% increase in monthly visits
Beta product with OEMs
Traction with large OEMs
These companies are part of an ecosystem that supports startups within the Microsoft Ventures family by leveraging the mentoring powering of a 63-strong alumni network. Upon graduating, some of the graduates summed up their experiences beautifully. Here’s just one example:
“Our mentors and the Bangalore Accelerator leadership team worked hard to help us connect with some of the leading business houses in the country. And by the end of the 4-month program, we have most of them as our customers already! To have a new brand come onboard each week for a platform that has been in the market for less than six months is a phenomenal traction story.” – Sujit Zachariah, CEO, Nifty Window
Want to advance your startup and gain traction? The deadline to apply for the next Microsoft Ventures Accelerator Bangalore cohort has been extended to December 20th and applications are pouring in!