Microsoft takes on its first Australian Start-ups

  • Sep 18, 2018 AEST
  • Team Kalkine
Microsoft takes on its first Australian Start-ups

The Scaleup accelerator Program of Microsoft is a world class program for technology Start-Ups. This program is for those Start-ups which have received the initial funding and want to expand. This program helps the startups by giving technical guidance to help them grow and link with potential customers. Further, the Program has been running for Five years and it is operating in Berlin, London, Shanghai, Seattle and Bangalore. According to Microsoft till now 730 companies have been graduated from the Scaleup program and together they have raised around US$ 3 billion. And there has been 48 exits- where these companies have been acquired and bought by other companies.

On 14 February 2018, Microsoft had announced its Scale Up Program for Sydney, Australia. Recently, Microsoft selected its first group of Startups from Australia as a part of its Scale Up Program. The group selected mostly includes Financial services and Artificial Intelligence based start-ups. The Australian Start-ups which are selected includes start-ups like Star VR which provide virtual reality apps, Simple KYC which automates know you customer requirements for all types of users, Daisee which is a developer of Artificial Intelligence software application, Karbon which provides management software for accounting firms, Teamage which develops a culture of continuous improvement through its technological platform, Vendor Panel which helps in managing the decentralized sourcing through its innovative tools, InDebted which is focused on changing the debt collection industry through its technology, Winimy AI which is trying to facilitate the customer transaction with the businesses through Artificial Intelligence Mechanism and many others like Makers Empire, Kapiche, Hyper Anna, Freight exchange, Auror, etc. These companies will be involved in Four Month curriculum to help grow every aspect of start-up business. Program will give Start-ups access to Microsoft Sales channels which will help in growing the network and increasing the connections.

For the year end 30 June 2018, the company earned a total revenue of $110,360m which was $96,571m in the previous year. The net income of the company is $16,571m which was $25,489m in the year 2017. Company’s Basic earnings per share is $2.15. The total assets of the company grew from $250,312 in 2017 to $258,848 in 2018. The cash flow from the operating activities is $43,884 which was $39,507 in 2017.

Microsoft share price closed at $112.14 at a market capitalization of 859.914bn as on 17 September 2018.

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