After a total of 4 and a half years of engagement within the Chinese innovation ecosystem, Microsoft Accelerator Bejing has been empowering Chinese startups to achieve more. Today it was announced that 14 startups from the Microsoft Accelerator Beijing 8th batch program had a chance to present their innovations during the Demo Day stage in Beijing.
As part of the 8th batch program, Microsoft Accelerator Beijing focused more on cloud computing, big data, IoT, artificial intelligence, VR/AR and information security in the enterprise and business sector. Microsoft Accelerator Beijing has accelerated 140 startups in China with 93% of them successfully raising funding during the enrolled period. Total valuation for the startups also reached of over 40 billion RMB (about $57.6 billion US) and a growth rate of over 600%. 20% of the alumni have acquired new customers with the support of Microsoft Accelerator Beijing. In a statement, Bin Luo, CEO in Residence, Microsoft Accelerator Beijing reflected on the program.
“Microsoft Accelerator Beijing has gained strong recognition among the startup and innovation ecosystem in China… Now we are not only one of the best accelerators in China but the connecting and sharing platform for startups and the innovation ecosystem in China. We are pushing the boundaries of the traditional accelerator model to include business development and leads generation, marketing and sales support, operations efficiency, and more. By integrating tightly into the business operation of startups, Microsoft Accelerator Beijing is empowering Chinese entrepreneurs to build great companies.”
Microsoft Accelerator Beijing will also be speeding up the businesses of the 8th batch of startups, and has brought in more resources, including overseas funds Sequoia, IDG, Fidelity International and Temasek. The program ultimately helps in the building strategic partnerships and flagship customers for startups, and enables startups to expand both domestically and globally.