Microsoft Korea, a subsidiary of Microsoft Corporation, announced that it would continue to conduct the ‘Microsoft for Startups’ this year. In 2020, the software and tech company launched Microsoft for Startups, a program dedicated to discovering, recruiting, and helping upcoming South Korean tech-based startups.
Moreover, tech-based startups include companies that develop AI, fintech, retail tech, educational tech, big data, smart factory, and machine learning. Following its launch, the program discovered numerous startups, including the local video and e-learning platform operator Gurumi, promoting digitalization. Apart from this, Microsoft for Startups also discovered the tech-focused healthcare firm AITRIX, which developed a cancer imaging diagnosis technology.
Enhancing the South Korean Startup Ecosystem
As Microsoft Korea stated, the program is committed to pushing startup success by employing their insights and extending their reach. Aside from refining the startups’ innovative capabilities and solutions, the program would support them in pioneering existing and new markets. The Microsoft subsidiary will also help them venture into international markets and pull in more sales opportunities and capital investments. For this goal, Microsoft Korea will utilize MS Azure to assist startups and gather support from foreign and domestic partners.
In addition to these startup growth opportunities, Microsoft for Startups contributes to the country’s startup ecosystem expansion and vitalization. Since Microsoft for Startups’ establishment, South Korea saw a significant increase in business-to-business tech startups.
Microsoft for Startups 2021
“Startups with beats of original ideas, fast execution, and excellent technological prowess bring positive changes not only to our daily life but also to regional and national economies,” said Microsoft Korea. “Through the program, we hope that competent startups will have an opportunity to collaborate with the best domestic partners and become game-changers.”
Eleven local investment firms will support Microsoft Korea in conducting the startup recruitment program this year. Some of the Korean firms that will participate include Storm Venture, Kiwoom Investment, Capstone Partners, Stonebridge Capital, and Megazone Cloud.
This year’s finalists will receive MS Azure credits of up to $120,000, cloud technology education, tech consulting, and marketing support. Additionally, Microsoft Korea will grant them access to state-of-the-art programming applications and services, including Microsoft Azure, GitHub, and Office 365. Microsoft Korea also plans to further increase support for promising projects by managing startup recruitment programs every quarter.
Importantly, the programming service provider announced it would conduct the startup recruitment on Microsoft for Startup’s official website. Microsoft Korea also stated that it would begin recruiting participating tech-based startups starting this week until April 16. Lastly, Microsoft for Startup will reveal the 2021 final startup selection on May 14.
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