Never miss a story

Get subscribed to our newsletter


×
FILE - A sign for Microsoft is seen on a building in Cambridge, Massachusetts, March 18, 2017. VOA

In a bid to empower women entrepreneurs, Microsoft corporate venture fund M12 on Thursday partnered with Mayfield and Pivotal Ventures to announce $6 million competition for women-led enterprise startups in India, the US, Europe, Canada and Israel.

In its second year, the “Female Founders Competition” will help accelerate funding for women entrepreneurs developing software-as-a-service (SaaS) and deep tech solutions.


Four winning companies will receive a total of $6 million in venture funding, along with access to technology, resources, mentoring and other benefits, the company said in a statement.

“The tech industry can’t afford to keep leaving women’s good ideas on the table. We need to level the playing field for female entrepreneurs, and together with Mayfield and Pivotal Ventures, we aim to do just that with our second Female Founders Competition,” Peggy Johnson, Executive Vice President, Business Development, Microsoft.

Submissions for the competition are open from October 17 to December.

Companies will be eligible to apply if they have at least one female founder, have raised no more than $5 million in combined equity funding and/or debt loans upon date of application, and offer or intend to release a product, service or platform addressing a critical business problem for a global market.

A live finals pitch competition will take place March 18-19 2020, with the announcement of winners to follow shortly thereafter.


FILE – Microsoft Corp. signage is seen outside the Microsoft Visitor Center in Redmond, Washington, July 3, 2014. VOA

Two enterprise software startups will earn investment awards of $2 million each, and two deep tech startups innovating through substantial scientific and research advances will earn investment awards of $1 million each, said Microsoft.

Early this year, Microsoft announced that its corporate venture fund M12 will invest in Indian startups with a funding size of $2 million to $10 million.

M12 announced its first India investment in the healthcare SaaS (software-as-a-service) startup called “Innovaccer”.

Also Read: Scientists Discover Mash-Up of Two Feared Disasters – Hurricanes and Earthquakes

As the corporate venture arm for Microsoft, M12 (formerly Microsoft Ventures) invests in enterprise software companies in the Series A through C funding stage.

In a recent study by MassChallenge and Boston Consulting Group (BCG), women-founded businesses delivered more than two times as much revenue per dollar invested than their male counterparts.

“We are thrilled to partner with M12 and Pivotal Ventures on this innovative Female Founders Competition, through which we will find and invest in women creating built-to-last enterprise companies,” said Navin Chaddha, Managing Director, Mayfield. (IANS)


Popular

qz.com

China is cracking down on cryptocurrency

A cryptocurrency is a digital/virtual currency, that is secured by cryptography (study of hiding information). There are over 6,500 cryptocurrencies in existence as of September 2021. The value of cryptocurrency is growing at a quick rate and analysts and experts are still expecting a sharp rise in the value of Bitcoin, the oldest, and most valuable cryptocurrency in the world. however, china doesn't seem to be on board with the idea of digital coins in its economy as it has banned dealing and trading in these digital tokens.

China has taken several decisions to curb the rise of cryptocurrency in its market since 2013 by putting in place increasingly stricter rules on virtual currencies. But on September 17th, China's central People's Bank of China (PBOC) announced that all activities from transactions made in cryptocurrency to crypto mining are deemed illegal including offering trading of digital assets, order matching, token issuance and derivatives. Anyone who's found guilty of being involved with cryptocurrencies and working for overseas platforms from within China will be severely punished. Chinese Government directed the banks to not provide any products or services such as trading, clearing and settlement for cryptocurrency transactions.

Keep Reading Show less
DRDO Twitter

"Akash Prime" was successfully tested by the DRDO by the ITR in Odisha's Chandipur

A new version of the Akash missile- "Akash Prime" was successfully tested by the Defence Research and Development Organisation (DRDO) at the Integrated Test Range in Odisha's Chandipur on Monday at around 4:30 pm. The missile intercepted and tore apart a high-speed unmanned aerial target mimicking enemy aircraft, in its first flight test after all the enhancements.

Akash Prime is equipped with an indigenous active Radio Frequency seeker to accurately locate the enemy aircraft. The upgrade includes an improved, Launcher, Multi-Function Radar and Command, Control and Communication system. The test was carried out amidst bad weather conditions and yet Akash Prime successfully detonated the threat proving the all-weather capability of the weapon system. The improvements also established that the new missile has comparatively more reliable performance under a low-temperature environment at higher altitudes

Keep Reading Show less
Photo by Kelly Sikkema on Unsplash

According to research, virtual learning has been proven to enhance retention of information and take up less time

"Education is the most powerful weapon which you can use to change the world."
-N
elson Mandela


Schools all across the world have been closed as a result of the COVID-19 outbreak. Over 1.2 billion children are out of school across the globe. (Reported by UNICEF). Because of this, education has changed immensely, with the introduction of e-learning, in which tutoring is provided remotely and using various digital platforms. According to research, virtual learning has been proven to enhance retention of information and take up less time, indicating that the changes produced by the coronavirus may be here to stay in the future.

Keep reading... Show less