According to Microsoft, India is not only the biggest startup-ecosystem in the world, but also the fastest-growing. The US-company estimates that there are about 4500 tech-based startups in India. So far, Microsoft has one incubator in Bangalore; it helps about 20 start-ups to grow each year, but gets about 1000 applications annually.
Now, the company has decided to intensify its efforts in the India startup-ecosystem: Within the next five years, Microsoft Ventures plans to incubate about 500 Indian startups. Most of them will work in the segment of “Internet of Things” (IoT) or Smart City. According to “Business Standard” this is part of Microsoft’s plan to create a viable and profitable business out of India’s startup ecosystem.
Source: Business Standard