Microsoft Accelerator in Bangalore Announces Batch 9 – Meet the Startups!
Ashwin B.S.Program Manager
Startups need help. We’ve witnessed this truth time and again, no matter how old the startup is, no matter what stage the startup is in. Startups need help in three basic areas:
Mentoring from subject matter experts that can help solve specific problems
Connections to potential customers
Introductions to potential investors
Corporate accelerators excel in providing support to startups in one or two of these areas, but at Microsoft’s Accelerator, we provide all three. This has propelled us to the Number One spot amongst all corporate accelerators in India, as well as the Top Ecosystem Builder in India. The simple testament to this, beyond the awards and recognitions, is the huge traction that our applications for this batch have seen—in terms of both organic and referred applicants. Notably, 25% of our applicants were referrals from partners such as NASSCOM 10,000 Startups, iSPiRT, various TiE chapters across the country as well as the various VCs we work with to provide investment to our core portfolio of startups.
The huge number of startups that applied to our program through @cceler8 also gives us tremendous insight into how the startups ecosystem is evolving to higher levels of maturity than even before.
A mere 14% of the startups that have applied to us are at Idea stage, 31% already have deployed prototypes and a good 55% have active users for their products. These are all signs that show how forward thinking and execution-focused Indian entrepreneurs have become.
This can be evidenced in the funding story that we see in our applications as well. A good 52% of the startups are bootstrapped, which is indicative not only of the fact that the heated race for funding has cooled down considerably, but also the fact that startups are getting more rational about getting their unit economics right before they think of funding.
We also see the allure of B2C reducing, with 59% percent of the startups applying to our program fitting squarely in the B2B space (enterprise & marketplaces combined).
Obviously, selecting the right startups – the ones for which we can make the most impact – from the large pool of organic and inorganic applications is not an easy job. After a 4-month long process of shortlisting startups, we had to bring in the ‘big guns’ from the ecosystem to help us select the participants for the final batch. We ran our final shortlist of 20 startups through a jury of 16 members comprising 4 VCs (Vertex, RHS Holdings, IdeaSpring, and pi Ventures), 4 entrepreneurs, 4 CxOs (Tata Consultancy Services, eBay, Cisco, and ICICI Bank), and 4 Microsoft employees.
Sticking by our mission, our new cohort focuses on later stage and deep tech startups. Here are some highlights:
One of the most mature batches ever – The average of these startups are 4.5 years, with some going back to 2008!
Members of the Million Dollar Club – They got traction! many of them have US$2M+ revenue already.
VCs love them – Five of the nine funded startups have raised series A funding. The average funding is $1.8Mn.
Enterprises love them – All of our startups have a B2B-facing solution. 15% have a B2B2C and a B2C solution too!
Their customers love them – The average annual revenue of these startups are a whopping U.S. $725K, and 5 exceed—or are close to exceeding—U.S. $1M in annual revenue.
There are bootstrapped champions as well – There are four bootstrapped startups, which have as much traction as the rest of the cohort.
Made in India; gone global – More than half of them already have an international presence, and others are well on their way to going global.
They’re right on the button – Working in some of the hottest verticals out there – Media & Marketing, Healthcare, BFSI, Transportation and Logistics among others.
Help us welcome our new cohort! Meet the companies that make up batch 9:
Allizhealth is an innovative health management platform created to address the growing concern on non-communicable and lifestyle related diseases. The platform enables users to figure their health risks early and use various resources to track and manage the same. Through proprietary health risk assessment, personal health records, mitigation programs and analytics engine, the platform predicts major health issues at individual, family and population levels. At present, it is being used by over 500,000 users and some of the leading Insurance and health care providers in India.
Betaout is an all-in-one E-commerce and B2C marketing software that lets you engage with your customers in a highly personalized way by email, on-site engagement, SMS, mobile push and cart recovery too. Betaout’s software builds user intelligence by analyzing your visitors, their intent data and building the user’s personas in real time.
Epictions is a technology company that is using artificial intelligence and machine learning to disrupt the world of Content Marketing and Digital PR. They help brands to consistently create engaging content and effortlessly target it to the right audience leveraging the intelligence and automation of their platform. Their customers range from Fortune 500 companies to very large agencies and publishers.
Faircent provides a peer-2-peer lending platform where potential lenders and borrowers can register and then interact amongst themselves to strike deals on lending and borrowing. The company’s platform enables users to know the borrower by their profession, caste, and mother tongue. It serves residents of India. The company was founded in 2013 and is based in Gurgaon, India.
FarEye is a SaaS-based mobility platform for business operations. FarEye solves the critical problems faced by any enterprise i.e. real time co-ordination between field jobs, mobile workers and on-demand consumer requests. FarEye optimizes businesses by moving their operations on a mobile. The SaaS mobility platform helps companies schedule & dispatch jobs, monitor executions and analyze performance, all in real time making businesses more responsive, customer-centric and profitable.
Germin8 is a proprietary stakeholder insight, engagement and social media listening platform that collects and analyses conversations in real time from public sources and private sources, and converts them into industry-specific actionable insights and leads.
Meddiff Technologies operates in the space of healthcare IT with prime focus on building products – Teleradiology and Picture Archiving and Communication Systems. Known for innovations, Meddiff has built six first-of-its-kind applications. It is the market leader in India with Global footprint and true to its tag line – making a difference.
MoveInSync helps companies manage their employee transportation. MoveInSync’s SaaS offering makes the transportation efficient, transparent and safe especially for women travelling at night. It is presently used by 100,000 employees across 40 enterprises including Microsoft, Google, Facebook, Amazon, Wipro, Oracle, etc.
Surukam(Focus Area: Artificial Intelligence for Smart Business)
Surukam provides next generation Artificial Intelligence (NLP and Machine Learning) solutions to automate all parts of the contract life cycle. Our platform handles drafting, redlining as well as post-contract management of contracts and is easily integrated with existing CLM tools.
Talview is a leader in video-mobile recruitment and assessment technology solution space that helps businesses build a high performing workforce by reaching out to & screening more candidates using lesser time than traditional hiring processes. Talview’s clientele include many of the Fortune 500 and it has served clients across 102 countries.
Transaction Analysts is Fintech solution promoting digital payments, which empowers small entrepreneurs to make incremental revenue by becoming a TA Digital Partner. TA aims to bring affordable Digital Payment Services to all citizens of India through its Digital Partner Network using its unique strategic licenses from RBI, AADHAAR, NPCI and product IPs.
Uncanny Vision is a B2B startup delivering optimized AI-based computer vision for Smart IoT devices like Surveillance cameras and has already been proven with multiple Fortune 500 Customers in Japan & US.
Whodat is an Augmented Reality company, focused on building products that harness the power of emerging technologies to help people visualize products like never before. Their mission is to democratize the reach of Mobile Augmented Reality and help consumers make informed decisions before buying a product.
Make sure to follow us on Twitter @MSA_IND to keep up with our current batch, receive updates from our alumni, and learn about important accelerator program dates and deadlines!
Raghav KherManaging Director, Microsoft Accelerator Seattle
This week, we’re proud to announce the latest batch of startups joining our Seattle Accelerator’s Fall cohort. With a combined funding of over $140 million, these 11 startups span AI, cloud, and IoT spaces.