Startups, Technology

Microsoft Ventures plans to raise $1M

Microsoft Ventures, a technology guidance and seed funding provider is planning to launch a cyber-security-focused program in collaboration with Jerusalem Venture Partners, as per TheNextWeb report. The service will go live approximately between september 2014 and january 2015 in Tel Aviv, Israel.

After finishing this program, Jerusalem Ventures Partners is expected to invest USD 1 million in Microsoft Ventures and will also provide space in its own cyber labs. This four months program will provide free tools, support of participating companies as well as oversight and expertise from different industry executives.

The program’s applications are already open. If it’s successful, then it will also be expanded to other cities. Microsoft Ventures will not require any obligations to use its own technology in the program. Also, it doesn’t take any cut of action in exchange for this support.

Around 6-8 businesses will be accepted in the starting of the program. Also, the accelerator is looking at those startups which are currently working on building cyber-security services and products.

Redmond headquartered, Microsoft Ventures is a strategic partner with B2B startups and is focussed on business growth, industrial strength technology, customer development, etc.

Currently, the firm consists  of 21 members in its team. Earlier, It has made investment in 9 companies including Watchup, Zula, Ranku, Sky Giraffe and others.

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