The Six startups joining Microsoft’s new, late stage accelerator program are: MyBusTickets.in, Praxify, Thinxtream, Touchfone, ZingHR and Zoom.
The startups joining regular, early stage incubation program are: Appointy, App Virality, Bookpad, Boutline, Imly, InstaSafe, IntouchApp, Metaome, Sliderule and Voonik.
“This program is for more mature companies which are closer to VC funding. Most of them have made significant progress, so much so that the startup ecosystem is taking their eyes off them,” Ravi Narayan, director of Microsoft Ventures said in a statement.
Microsoft Ventures in India has graduated 35 startups since August 2012, and about 80% of them have been funded so far. Two graduates, Adepto and Plustxt, have been acquired.
As we reported last week, accelerators are trying to figure out ways to get involved with more fundable, mature startups. This is because despite more money chasing early ideas, the Series A crunch seems to be even more real for those graduating from the accelerators. Accel India scanned around 1,000 companies across 62 different accelerators and incubators in India over last few years, and the results speak for themselves — only 30 of them went on to receive Series A funding. Read More>>