Microsoft ScaleUp program starts in Sydney

Microsoft ScaleUp program starts in Sydney

13 start-ups join first group with strong focus on AI

Credit: Dreamstime

A total of 13 start-ups have joined Microsoft's ScaleUp accelerator program in the NSW Government’s Sydney StartUp Hub.

Specifically, Auror, Daisee, FreightExchange, Hyper Anna, InDebted, Kapiche, Karbon, Makers Empire, Teamgage, SimpleKYC, StartVR, VendorPanel and Winimy AI are part of the first group to participate in the tech giant's global initiative.

Microsoft first announced the Sydney-based iteration of the global ScaleUp program in February - the four-month program aims to support start-ups with global expansion as well as product development through a curriculum that has been curated to grow every aspect of a start-ups business.

Furthermore, the program also includes senior level coaching, team culture development, recruiting talent, creating distribution channels with global Fortune 500 companies, learning how to work with large organisations and developing new markets both nationally and on a global scale.

Microsoft will also connect participants with its global network of customers, partners and venture capitalist firms.

“We are deeply impressed by the diversity of our first batch of start-ups and the ways in which they are each bringing innovative and industry leading solutions to their respective markets,” said Emily Rich, managing director for startups A/NZ at Microsoft.

“The cohort represents a broad cross section of enterprise focused technology start-ups with a particular focus on artificial intelligence and platforms that help companies improve customer experience.

“However, the central theme that ties them all together is their growth mindset, customer obsession and products which we believe will build lasting value."

More than 700 companies have been through Microsoft's ScaleUp program in its five years of existence raising almost US$3 billion in follow-on funding.

There were also 48 cases where the company was bought out or acquired by another company. Microsoft stated that it does not take any equity in the start-ups it supports.

Sydney is the eighth city to host the Program, following Bangalore, Beijing, Berlin, London, Seattle, Shanghai and Tel Aviv.

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Tags Microsoftstart-upAurorMakers EmpireHyper AnnaDaiseeFreightExchangeSimpleKYCInDebtedStartVRKarbonKapicheVendorPanelWinimy AITeamgage


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