Microsoft has entered a new partnership with Y Combinator, a leading global startup accelerator.
Y Combinator provides ‘seed funding’ for startups, which essentially covers expenses for companies when they are first getting started.
Twice a year, Y Combinator invests around US$120,000 in a large number of startups. Most recently, 85 startups received investment from Y Combinator and moved to California’s Silicon Valley for three months to work intensively on ways to improve their business and their pitch.
“Microsoft has long been committed to startups, to helping them solve unique challenges, in ways that they value,” said Steve Guggenheimer, corporate vice president of Developer Platform and Evangelism and chief evangelist for Microsoft. “At Microsoft we are fortunate to have forged strong partnerships that together bring unique value to Startups globally. This relationship is one that will allow us to continue evolving by talking to, working with and learning from startups and from a great partner like Y Combinator.”
As part of the partnership, Microsoft will provide Y Combinator’s current class with access to Microsoft Azure and a broad suite of Microsoft technology. This includes US$500,000 in Microsoft Azure credit, three years of Office 365, and direct access to Microsoft engineering teams.
“Partnering with Y Combinator is both an extension of our commitment to startups, as well as an expression of Microsoft’s culture and values to add greater value through partnering, than by going it alone,” Guggenheimer added. “We continue to invest in the startup ecosystem and to look for opportunities to foster innovation around the world, both directly and through our partners.”
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