BEIJING, Jan. 12, 2017 /PRNewswire/ -- 14 startups from Microsoft Accelerator Beijing 8th batch program have presented their innovations during the Demo Day stage. After 4.5 years of deep engagement with the Chinese innovation ecosystem, Microsoft Accelerator Beijing has gained strong recognition by empowering Chinese startups to achieve more.
At Chinese National Entrepreneurship and Innovation Week last October, Microsoft Accelerator Beijing's booth was the only multinational company's accelerator program among the 4,600 attending incubation and accelerator programs represented and received visits from the Vice-Premier of China. Microsoft Accelerator Beijing also received visit from the Vice-Minister of Science and Technology of China, who once again recognized Microsoft Accelerator Beijing's efforts and achievements.
"The past four and a half years have witnessed the strong growth of Microsoft Accelerator Beijing, as well as the Microsoft Accelerator globally, since its beginning in 2012 in Israel. The goal of the Microsoft Accelerator initiative is to empower entrepreneurs around the world on their journey to build great companies," said Tzahi (Zack) Weisfeld, General Manager, Microsoft Accelerators. "Microsoft Accelerator has rolled out globally to 6 countries with 7 accelerators in operation. A total of 534 startups have passed through and 82% of them have received funding totaling US$2.1 billion, plus 3 IPOs and 38 acquisitions."
"Microsoft Accelerator Beijing has gained strong recognition among the startup and innovation ecosystem in China," said Bin Luo, CEO in Residence, Microsoft Accelerator Beijing. "Now we are not only one of the best accelerators in China but the connecting and sharing platform for startups and the innovation ecosystem in China. We are pushing the boundaries of the traditional accelerator model to include business development and leads generation, marketing and sales support, operations efficiency, and more. By integrating tightly into the business operation of startups, Microsoft Accelerator Beijing is empowering Chinese entrepreneurs to build great companies."
For the past four and a half years, Microsoft Accelerator Beijing has accelerated 140 startups in China with 93% of them successfully raising funding during the enrolled period with total valuation reached of over 40 billion RMB and a growth rate of over 600%. 20% of the alumni have acquired new customers with the support of Microsoft Accelerator Beijing.
During the 5 months of the 8th batch program, Microsoft Accelerator Beijing hosted over 100 events including resource matching with multiple Chinese government organizations and associations, marketing and sales lead generation events targeting large enterprises and corporations, and joint marketing promotions with other accelerators in addition to training, media promotion and alumni events.
Microsoft now can accelerate Chinese startups faster by offering more internal resources.
To speed up the business of the 8th batch of startups, Microsoft Accelerator Beijing has brought in more resources such as those offered by overseas funds including Sequoia, IDG, Fidelity International and Temasek. And for the first time, Microsoft Accelerator Beijing organized business development programs that directly engaged with global 500 companies as well as large enterprises in China, such as BMW, Mercedes-Benz, Daimler AG, IBM, Intel, Foxconn, Accenture, Pactera, China Development Bank, and more.
By building strategic partnerships and flagship customers for startups, Microsoft Accelerator Beijing enables startups to expand both domestically and globally. And to be better prepared for IPOs, Microsoft Accelerator Beijing also invited KPMG for a special training on auditing for publish listing and full entrepreneurship skills.
With the 8th batch program, Microsoft Accelerator Beijing has focused more on cloud computing, big data, IoT, artificial intelligence, VR/AR and information security in the enterprise and business sector. Microsoft Azure has become the world top cloud computing platform for building intelligent, cross-platform apps and services. And graduates from Microsoft Accelerator Beijing have grown into the Microsoft Azure cloud ecosystem as well. Together, Microsoft Accelerator Beijing will be able to empower the Chinese digital economy in the long run.
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SOURCE Microsoft Accelerator Beijing