Industry

Citi India, Patni and Kyron sign up with Microsoft Ventures

Microsoft Ventures in India announced partnerships with Citi India, Kyron and Patni Healthcare under its CoInnovate program. CoInnovate connects mature startups with corporates – who get access to innovative solutions for their business needs while providing greater market access for the startups. The announcement was made at Think Next 2015, Microsoft Ventures’ flagship forum that brings thought leaders in technology who are driving transformation via innovation together under a roof. Think Next aims to bring opportunities and possibilities together and explore potentialities for economic progress via global collaborations.

Bhaskar Pramanik, Chairman, Microsoft Corporation (India) Pvt. Ltd, said, “Support for innovators and entrepreneurs has always been part of Microsoft’s DNA. We have been in India for 25 years now, and worked with businesses and governments alike. Through the knowledge gained in these 25 years, we have emerged as trusted advisors to organizations of all sizes – be it a startup entrepreneur or a giant conglomerate. We believe that success for innovators will drive our own success and I am glad to note that we are taking another step in this direction today.”

Speaking on the occasion, Ravi Narayan, Director at Microsoft Ventures in India said, “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 is the bridge that can connect the two and we are happy that we have been able to bring such reputed partners on board today.”

Think Next also saw the graduation of Microsoft Ventures’ Winter Batch 2015. The eight certified startups from the batch are – Canvasflip, Cloudcherry, Shotang, Flutura, KNOLSKAPE, Vymo, Vakilsearch and Vigyanlabs. The startups showcased their innovative solutions that have been the hallmark of all Microsoft Ventures’ batches till date. In addition, Think Next brought together more than 800 delegates from leading corporates, investors, thought leaders, and Microsoft leaders who partnered to push the collaborative innovation agenda for the ecosystem. The event also had two senior leaders from Microsoft’s Global Leadership engage with the audience. Steven Guggenheimer, Corporate Vice President & Chief Evangelist at Microsoft and Scott Coleman, ‎General Manager, Microsoft Ventures shared lessons they learnt while working with entrepreneurs across the globe and how Indian could benefit from them.

One of the most sought after sessions was the Round Table on ‘The Road to Startup Exits’ hosted jointly by Microsoft Ventures and iSprit. The session focussed on hot topics including current valuation levels, potential IPOs, M&A scenarios in the age of Unicorns, Acqui-hire and mergers. Another interesting session was the Fireside Chat with renowned author Devdutt Pattanaik who spoke about the lessons today’s entrepreneurs can derive from our mythology and stories handed down over the generations.

(Source: Press release)

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