Microsoft has unveiled the first cohort of Australian startups that are participating in its Sydney ScaleUp program.
Unveiled in February, the 13 local startups will join what Microsoft describes as a “global initiative with a mission to empower entrepreneurs to build better companies”.
The Australian companies participating in the program include, Auror, Daisee, FreightExchange, Hyper Anna, InDebted, Kapiche, Karbon, Makers Empire, Teamgage, SimpleKYC, StartVR, VendorPanel and Winimy AI.
Emily Rich, managing director at Microsoft for Startups ANZ said, “The cohort represents a broad cross section of enterprise focused technology startups 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.”
Through its ScaleUp Program, Microsoft works with emerging companies to provide the tools, resources, connections, knowledge and expertise they need to become highly disruptive and enterprise-ready by scaling every aspect of their business.
The program aims to support startups with global expansion as well as product development through a curriculum that’s been curated to grow every aspect of a startups business.
This includes: senior level (CEO/CTO) 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.
Throughout the program, and after graduation, Microsoft will serve as a strategic partner for all ScaleUp alumni, providing avenues to market by connecting them with Microsoft’s global network of customers, partners and venture capitalist firms.
In the five years the Microsoft ScaleUp programs have been running, close to 730 companies have graduated from the program and raised almost US$3 billion in follow-on funding plus 48 exits – where the company is bought out or acquired by another company. Microsoft does not take any equity in the start-ups it supports.
Sydney is the eighth city to host the Microsoft ScaleUp Program, joining the likes of Bangalore, Beijing, Berlin, London, Seattle, Shanghai and Tel Aviv.
The program officially began yesterday and will run for four months.