India: With Microsoft Accelerator shifting its focus from early-stage startups to later-stage ones, the average age of its latest batch of 13 startups is 4.5 years, with many of them generating at least $2 million in revenue. And they are all business-to business (B2B) startups.
“This time, almost half of the selected startups have a global presence and all of them are focussed on deep technology and data analytics. This shift in focus matches the preparedness of the ecosystem. Many of the accelerators today are already focussed on the breadth of the ecosystem. We want to focus on the depth as well,” said Bala Girisaballa, the CEO-in-residence of Microsoft Accelerator.
For the next four months, the accelerator will focus on the growth of the startups and help plan global go-to-market strategies for them. Content intelligence platform Epictions, founded in 2013, is one of the startups selected. It works with over 60 global and Indian companies, helping them market content on the right platforms. “We are planning to scale the product offering and focus on building a technology stack while looking for mentorship to go global,” said founder Praveen Hebagoddi, who worked previously with Akamai Technologies for seven years.
Among other selected startups are Whodat, a home decor platform in the augmented reality space that started in 2013, and MoveInSync, an employee management solution company that started in 2009.
Girisaballa added that the number of B2B companies was growing and the space was becoming extremely competitive. In the latest batch, 25% of the startups have come from smaller cities like Pune and Hyderabad. Five of the nine funded startups in the batch have raised series A funding.