ScaleUp is the name and Microsoft’s accelerator programme is the game.
The programme which was announced by Microsoft early in 2018 targets Australian startups that have typically received initial funding and thinking about expanding. The majority of the first round of entries into the startup programme from the artificial and financial services sectors.
The programme is intended to link the startups with potential customers, access to Microsoft partners and offer technical guidance if needed all without giving up any equity of their company.
The ScaleUp programme has been in operation for five years elsewhere in the world and so far Microsoft have said that 730 companies have so far graduated from the programme.
Companies involved are enrolled in a four month course which is designed to grow every aspect of the startup’s business. The selection process is a highly competitive process with more than 100 applications; shortlisted to 30 then the chosen 13.
Successful worldwide graduates so far have raised almost $4.2 billion in follow on funding and 48 exits – where the (new) company is bought our or acquired by another company.
Source: Australian Financial Review
Enter your new company name now to check availability