London welcomes Microsoft start up programme to Tech City


WEBWIRE – Friday, September 13, 2013

Microsoft is the latest global company to add to London’s Tech City cluster with a new start up programme for gaming and technology companies. It’s the latest high profile addition to the fastest growing tech cluster in Europe, with over 3,000 companies located in an area.

The Microsoft Ventures Accelerator will offer technology founders and entrepreneurs the opportunity to grow their businesses through access to investors and mentors within the tech community along with the company’s network of contacts in the sector.

Microsoft is the latest technology company to increase its presence in Tech City – Europe’s leading technology cluster. Other global technology companies which have recently grown their operations in London include Intel, Cisco and Google, in order to tap into TechCity’s world class cluster of skills, advisory services and links to leading educational establishments.

London & Partners, the Mayor of London’s promotional organisation, has worked closely with Microsoft to support the growth of their operations and provided assistance in establishing the mentor programme.

The programme will initially be based at business hub Central Working in Shoreditch and will consist of a 12 week programme supported by a range of established businesses and organisations. This includes London Business School and experts from financial institutions, professional services firms and established technology companies.

The already established Microsoft programme has helped 119 companies throughout the world and, to date, 85 per cent have received funding straightaway or within six months.

Anand Krishnan, General Manager, Developer and Platform Group, Microsoft Limited said: “If you’re a technology or gaming startup with a great team, a great idea and an unfaltering belief in what you do, you are the perfect candidate for the Microsoft Ventures Accelerator in London.

“Microsoft is committed to helping startups grow their business by providing access to our ecosystem of partners and routes-to-market.”

Gordon Innes, CEO, London & Partners said: “London & Partners have been delighted to support Microsoft in the establishment of its Venture Accelerator and it will help deliver a huge contribution to London by directly supporting entrepreneurs and giving them access to world class mentoring, professional expertise and access to venture capital funding. The continued growth of London’s tech cluster is a major priority for the Mayor of London and we at London & Partners look forward to working on increasing the number of jobs and investment into the sector.”

Ends
Notes to Editors

Microsoft Ventures serves as a strategic partner for promising startups around the world focused on business growth and customer development. The accelerator in London is the latest to be announced as part of a global footprint of 10 accelerators that are planned to open.

Of the 119 companies that have already participated in the global Microsoft Ventures programme, to date, 85% received funding on demo day or within six months. The London accelerator is open to startups that are focused on pursuing their vision full-time and are at seed stage. Applicants will benefit from membership of BizSpark, which gives eligible startups access to three years of free software, support and visibility, as well as a fast track onto BizSpark Plus.

About London & Partners

London & Partners is the official promotional organisation for London. Our company attracts and delivers value to business, students and visitors. London & Partners is a not-for-profit public private partnership, funded by the Mayor of London and a network of commercial partners.

Our remit is to drive leisure and business visitors as well as bidding to secure major events in London, to unlock the city for overseas businesses who want to set up or expand in London and to promote the capital’s world class universities to international students.

Our intention is to work in partnership with organisations in London and across the world to deliver our goal - that London be globally recognised as the best big city on earth.



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