Microsoft Ventures has expanded its partnerships in India by brining on board Citi India, Kyron and Patni Healthcare under its accelerator programme CoInnovate to support the Indian start-ups, as per a report in PTI.
CoInnovate connects mature start-ups with corporates that get access to innovate solutions for their business needs while providing greater market access for the start-ups.
Through this partnership, Citi seeks to reach out to new technologies and solutions created by start-ups that can address its clients’ banking, e-commerce and transaction needs.
Under its CoInnovate programme, launched in June this year, Microsoft Ventures is already working with Reliance, Deshpande Foundation and ISDI Creative Accelerator.
“Microsoft Ventures has always aimed to be an enabler for the startup ecosystem. During the last few years in India, we identified that market access remains one of the biggest stumbling blocks for startups, while corporates and governments often struggle to identify the right business partner. CoInnovate connects the two,” Microsoft Ventures in India Director Ravi Narayan said.
Through this partnership, Citi seeks to reach out to new technologies and solutions created by startups to address its clients’ banking, e-commerce and transaction needs. Patni Healthcare, on the other hand, is looking for a curated set of startups that they can work with as solution partners for Currae Hospitals.
“Support for innovators and entrepreneurs has always been part of Microsoft’s DNA. We believe that success for innovators will drive our own success and I am glad to note that we are taking another step in this direction today,” said Bhaskar Pramanik, chairman, Microsoft Corporation India.