Sunday, 13 December 2015

Microsoft Ventures Enters Into Partnership With Citi, Patni Healthcare : 12 Dec 2015

Microsoft Ventures  expanded its partnerships in India, bringing on board Citi India, Kyron and Patni Healthcare, to connect them to startups as they look for innovative and consumer-centric solutions. Under its CoInnovate programme launched in June this year, Microsoft Ventures is working with Reliance, Deshpande Foundation and ISDI Creative Accelerator. CoInnovate connects mature startups with corporates who get access to innovative solutions for their business needs while providing greater market access for the startups. "Microsoft Ventures has always aimed to be an enabler for the startup ecosystem. During the last few years in India, we identified that market access remains one of the biggest stumbling blocks for startups, while corporates and governments often struggle to identify the right business partner. #CoInnovate connects the two," Microsoft Ventures in India Director Ravi Narayan said. Through this partnership, Citi seeks to reach out to new technologies and solutions created by startups to address its clients' banking, e-commerce and transaction needs. Patni Healthcare, on the other hand, is looking for a curated set of startups that they can work with as solution partners for Currie Hospitals. Microsoft Ventures will power Kyron's corporate accelerator, by sharing best practices, and providing access to its portfolio of startups and events. "Support for innovators and entrepreneurs has always been part of Microsoft's DNA. We will use the learnings from India to other markets as well," he said. Globally, Microsoft Ventures Accelerator programmes have helped raise $876 million in funding. In India, it has seen an average funding of $1.4 million.

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