The companies plan to cross-sell startups specializing in Artificial Intelligence (AI), Internet of Things (IoT), Virtual Reality, Blockchain and fintech.
Microsoft Accelerator has entered into a corporate partnership with Accenture Ventures, after Wipro and TCS, to further strengthen the startup ecosystem in India.
The two companies, that have had several synergies in the past, are looking at working only with growth-stage technology startups in the B2B space. Accenture will look towards startups under MS Accelerator for innovative solutions for its clients.
“The focus (of startup ecosystem) is now on scalability, building value for enterprises, and to spread globally. Our focus will be on those lines. Our partnership with Wipro and TCS touches different capabilities. This partnership with Accenture is another effort to expand the scope for startups,” Bala Girisaballa, Managing Director for Microsoft Accelerator said on the sidelines of the announcement.Recently, Accenture and Microsoft Corp had come together, along with Avanade collaborated to form a multi-year, multi-million dollar agreement to develop, integrate and market enhanced cyberdefense solutions to help clients better detect, investigate and respond to cyber threats.
“The need to work with growth-stage startups emerges from our clients who want real problems to be solved. Microsoft and Accenture are both keen to add value to startups that are already startup-ready,” Girisaballa said.
The partnership is currently only for India market. However, the companies plan to extend the partnership on a global level as well, Avnish Sabharwal, Managing Director for Accenture Ventures, added.
The companies plan to cross-sell startups specializing in Artificial Intelligence (AI), Internet of Things (IoT), Augmented/Virtual Reality, Blockchain, fintech, Big Data, security, and customer experience solutions, at a global level.
The ecosystem partnership will help startups deploy solutions in large India and global client environments and improvise on their business model.
“We are essentially a platform and Accenture is a service provider. There are synergies that we can work on to create an effective go-to-market plan for the startups we work with,” Girisaballa said.
Microsoft Accelerator is a global programme, present in 7 locations, while Accenture Ventures partners and invests in growth-stage companies that create innovative enterprise technologies.
Microsoft Accelerator also announced completion of its eleventh cohort of 14 startups that graduated today including Clonect, Ace Turtle, Udaan, Simplilearn, MintM, Hotelogix, Docswallet, MegDap, GIEOM, i-exceed, KrypC, Liv.ai, VideoKen, and Kata.AI
The ventures part of Microsoft’s latest cohort were all growth stage startups, with average age of 3.5 years, having already raised an average of USD 64 million in funding so far.