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Solutions are built for industry applications in fintech, smart retail, autonomous cars, and other industries in need of digital transformation
Microsoft Accelerator Shanghai has hosted a graduation and demo day for its most recent batch of start-ups.
The cohort is the second to graduate since the accelerator launched in January 2017. Following a period of acceleration, lasting up to six months, the 15 start-ups have received new rounds of funding totalling 900 million RMB.
Shanghai’s 2035 urban plan, announced at the end of 2017, is to transform the city into an innovative, people-centered, and eco-friendly metropolis by 2035 with a resident population cap of 25 million.
Shanghai aims to approach these goals through technological innovation, an essential factor to transforming the city’s economy.
Shanghai has also initiated a plan to develop itself into a global innovation centre in science and technology by 2020, to which Microsoft Accelerator Shanghai is an active contributor.
The accelerator has graduated 29 startups in the coastal metropolis. These burgeoning companies are pushing the edge of technologies like cloud computing, big data, artificial intelligence, and the Internet of Things (IoT). Their solutions are built for industry applications in fintech, smart retail, autonomous cars, and other industries in need of digital transformation for Shanghai to drive its rapid development.
“Microsoft Accelerator features integrated resources, global operations and professional services,” said James Chou, CEO in-residence of Microsoft Accelerator Shanghai.
“We provide comprehensive innovation and start-up services to contribute to Shanghai’s supply-side structural transformation. With help from Shanghai and partners, we are able to attract more top technology start-ups and link their technologies with Shanghai’s 2020 target.”
“If you look at the United Nations’ World Economic Situation & Prospects for 2018, you’ll see that ICT innovation will play a vital role in deepening the influence of technology for productivity growth around the world,” added Hsiao-Wuen Hon, CVP of Microsoft and chairman of Microsoft Asia-Pacific Research and Development Group.
“China is a key driving force leading the global economy’s structural transformation, with start-ups at the core. Microsoft is building a global network of start-ups that can also contribute to China’s long-term sustainable growth.”
Microsoft Accelerator Shanghai also announced new milestones for its finance-focused programme Microsoft Accelerator Shanghai FinTech Camp Powered by PwC. “After half a year’s operation, our partnership with Microsoft Accelerator Shanghai for the FinTech Camp offers a full suite training comprised of theory, strategy and real world scenarios,” said Andrew Li, PwC Central China advisory service partner.
“PwC will continue to work with Microsoft Accelerator and extend cooperation into fintech, manufacturing and retail to generate a real impact for the economy.”
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