News dalla rete ITA

15 Febbraio 2018



US tech giant Microsoft will target the booming local technology start-up scene with the launch of a new accelerator program in Sydney, in what it describes as a “huge vote of confidence” in the quality of emerging local companies. The accelerator program – known as ScaleUp – brings in start-ups that have typically received initial funding and are looking to expand. It promises to help fast-track their growth by linking them with potential customers, Microsoft partners and technical guidance. Sydney is the eighth Microsoft ScaleUp program globally, with other versions operating in cities such as Seattle, Beijing, Berlin and London. The program takes in selected start-ups, which don’t pay anything for it, and typically work with them for about four months. In the five years it has been running globally, close to 730 companies have graduated from the program and raised almost $US3 billion in venture capital with 48 exits among them. There are a number of competing accelerator programs in Australia, such as Telstra’s Muru-D and BlueChilli, but unlike these Microsoft does not invest in its ScaleUp companies and take a stake. Instead, Microsoft says it is more interested in fostering long-term relationships with start-ups than investing in them. Although the program is open for all kinds of start-ups to apply, it will favour business-to-business and enterprise-software-as-a-service firms, where a future partnership with Microsoft could be a valuable outcome for both parties.   (ICE SYDNEY)