US tech giant Microsoft has launched its accelerator program in Sydney called ScaleUp – looking to invest in start-ups that have typically received initial funding and are looking to expand.
It promises to help fast-track their growth by linking them with potential customers, Microsoft partners and technical guidance.
Sydney is the eighth Microsoft ScaleUp program globally, with other operating in Seattle, Beijing, Berlin, and London.
It will be based in the new Sydney Startup Hub, which was opened as part of a $35 million NSW government plan last year.
It takes in selected start-ups, which don't pay anything for it, and typically works with them for about four months. In the five years it has been running globally, close to 730 companies have graduated from the program and raised almost $US3 billion in venture capital with 48 exits among them.
"The quality of talent plus support from government set the scene for a thriving local start-up ecosystem that we can't wait to be part of."
The ideal companies will be business-to-business and enterprise-software-as-a-service firms, where a future partnership with Microsoft could be a valuable outcome for both parties. ..
The key opportunity....... is the ability to connect with Microsoft sales teams and its networks to help your business grow
We are looking forward to many success stories to emanate from this opportunity !
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