Microsoft has noticed that the new Indian startups have begun to make inroads in the world of SaaS. So the American tech giant today launched a 100X100X100 program which is especially aimed at B2B (business to business) SaaS startups.
Yesterday, the tech giant said that its 100X100X100 program will bring together as many as 100 companies and 100 startups that are currently at a growth stage. Microsoft also stated that each committed company will spend as much as the US $100000 over a course of one and a half years.
Anant Maheshwari, President of Microsoft India, said “This initiative will help build scale and create amazing opportunities for startups. Businesses can now fast-track their digital journeys through easy adoption of enterprise-grade solutions.”
In this program, all the participating startups will get access to prospective customers of Microsoft. They will also be able to take part in customer events. Moreover, the participants also get access to Microsoft’s technology platform and they will be guided in their respective business expansion models.
Right now, Microsoft is the new face of India’s startup ecosystem. Last year, the company also expanded M12, its corporate venture fund into India. Interestingly, Microsoft’s competitors, namely Google and Amazon are also actively helping Indian startups and they are also sponsoring countless events and bandying out a range of goodies.
It seems that the companies have literally added it in their own business models because if the bets work then these startups will already be a customer of their parent organization. Apart from this, the integrated solutions would benefit several other customers as well.
Following the success of firms like Freshworks with a market valuation of US $ 3.5 billion and CleverTap, recently, we have seen a hike in Indian startups who are trying their best to build SaaS software. As of now, SaaS startups don’t offer any kind of hardware solution.
In a recent interview, Shekhar Kirani, an Accel partner said: “Anyone with some coding skills and a cheap laptop can build a service and sell to the world.”
Recently, Godard Abel, Chief Executive of Business marketplace G2, said at a SaaS event that India is already among one of the top five nations who are actively participating in the field of developing new business services.
Last but not the least, it seems that we might hear a lot of announcements from Microsoft soon because its Chief Executive, Satya Nadella will appear at the company’s flagship conference today and tomorrow.