MICROSOFT ROLLS OUT GROWTHX ACCELERATOR APPLICATIONS: BIG THRUST TO B2B STARTUPS IN UAE | MENA startups, innovation, and tech news

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MICROSOFT ROLLS OUT GROWTHX ACCELERATOR APPLICATIONS: BIG THRUST TO B2B STARTUPS IN UAE
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MICROSOFT ROLLS OUT GROWTHX ACCELERATOR APPLICATIONS: BIG THRUST TO B2B STARTUPS IN UAE

Applications for the highly anticipated GrowthX Accelerator Program are now open by Microsoft.

MICROSOFT FOR STARTUPS MIDDLE EAST

It is not a surprise that UAE has a successful and well-developing startup infrastructure. Abu Dhabi continues to be a global leader in putting forward a nurturing environment for startups. The country has been ranked 16th out of 190 nations by ‘Doing Business 2020’ and 12th globally by ‘Ease of Doing Business Subnational Report 2020’- World Bank’s reports. The announcement of the GrowthX Accelerator Program by Microsoft in January- a strategic five-year partnership between Microsoft and the Abu Dhabi Investment Office (ADIO), is sure to escalate the growth of nascent, local B2B Businesses.

ABOUT THE PROGRAM

The virtual accelerator aims to provide participants with ample access to Microsoft platforms and its ecosystem of corporate associates and customers. The program is designed to form a link between corporates with obstacles and start-ups with solutions, providing a wide range of tools and resources. This will empower B2B startups with innovation, technology, mentoring, and market access needed to survive in the new digitally global economy.

HOW MICROSOFT OFFERS HELP

Many start-ups today revolve around how to solve a problem that the market is facing. They often lack the resources but at the same time, they are often more adaptable, because they can crack a challenge experienced by many corporates, it makes them a resilient model, where investors are eager to invest. In these cases that Microsoft can deliver particular value as its global corporate client base serves huge potential for assistance and partnership. On one side Microsoft connects with the corporates that want to work with start-ups but do not know how to, while on the other side, it connects with start-ups that have the solutions but are finding it difficult to enter the market. Thus the program is designed to bridge this gap. The result is a win-win situation for both parties- the innovation and swiftness of budding enterprises are brought to the incumbents, while entrepreneurs get access to their clients and are able to grow their businesses.

There is no need for either of the party to take equity in participatingventures, the only condition is that, the businesses have to be built on Microsoft platforms. In return, participants are provided guidance in preparing their startup ‘enterprise ready’.

WHAT’S ON OFFER

GrowthX will comprise virtual or physical workshops and training periods, along with a series of ‘demo days’ and networking events where startups can present their visions to venture capitalists as well as Microsoft’s regional clients. In the first 12-week period, Microsoft will recruit 15 startups from all over the region that nailsthe corporate challenges of its partners.

Details of the program-

  • Virtual or physical workshops and training sessions
  • Mentors having domain expertise
  • Technical assistance and guidance
  • VC access & demo days
  • Corporate round tables & demo Days
  • Social and alumni events

DEADLINES

The applications for this cohort will be closing on July 7.

A PROMISING PARTNERSHIP

The initiatives of the Abu Dhabi government in connecting the regional B2B businesses with prominent international institutions will definitely be instrumental in accelerating their growth, all over the region and beyond. Robert Croci, the managing director of Microsoft for Startups, stresses the need to mold regions having already strong foundations, just as Abu Dhabi has a blooming startup environment. He is therefore confident that this long-time commitment is going to be a launchpad for an entrepreneurship hub that will think globally, exporting technology from the region, but will evolve and invest in local talent. Startups are needed for any economy. They bring about innovation and new technologies, resulting in a huge impact for all. It will be exciting to get updates on how Microsoft will unlock Abu Dhabi’s rich economic potential and equip the regional innovators with the tools needed to thrive in the new digital economy.

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