Bangalore: Microsoft Corp. India Pvt. Ltd has identified a software backup provider in Chennai for an advanced version of its global start-up programme.
The Indian arm of the world’s largest software firm rolled out BizSpark One in the country on Friday and picked Vembu Technologies Pvt. Ltd as one of 45 start-up firms from 10 countries for the new initiative.
Microsoft launched the earlier version, BizSpark, in India in December 2008, under which a start-up firm could use its tools and technologies free for three years. Some 1,000 companies in the country have opted for the programme.
For the new initiative, Microsoft selected from firms that had adopted its BizSpark programme on the basis of their potential to succeed in global markets.
“There has to be some alignment of what these start-ups are doing with Microsoft’s products and services, as well as with our business and goals,” said Matthew Clark, senior director of Microsoft’s Start up Engagement for the Strategic and Emerging Business Team. Sekar Vembu, founder and CEO of Vembu Technologies, is now a part of a programme called “routes to market”. Under this, Microsoft introduced him to five firms Vembu had identified as potential partners. “We are now working closely with one of them and hopeful that they would become our partner in six months,” he said.
For investors, initiatives such as BizSpark One help spot potential deals with more confidence. “It takes us one step closer to offering financial resources to deserving young companies,” said Mohanjit Jolly, executive director, Draper Fisher Jurvetson India.