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Microsoft’s Corporate Venture Fund to Empower Women-led Enterprise Startups in India

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

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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.

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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”.

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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)

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New Samsung Foldable Smartphone “Galaxy Z Flip” Goes Out of Stock in Minutes During First Sale in India

In India, the device comes with Snapdrgon 855+ processor and 8/256 GB memory combination

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Samsung
The Galaxy Z Flip comes with a first-of-its-kind foldable glass that features a 6.7-inch display that folds into a stylish and compact form factor. IANS

 The Rs. 1.10 lakh Samsung Galaxy Z Flip foldable smartphone went out of stock within minutes during its first sale in India on Friday.

Samsung India’s online store put up a ‘sold out’ message for Galaxy Z Flip, less than an hour after the smartphone went on sale online at 11 a.m.. Leading retail outlets, accepting pre-bookings for Galaxy Z Flip, have also run out of stock.

Samsung’s online store and leading retail outlets are accepting pre-bookings against full payment for Galaxy Z Flip, which is priced at Rs. 1,09,999. Consumers, who managed to pre-book the Galaxy Z Flip in India, will start getting deliveries on February 26, Samsung India said in a statement.

Buyers from Samsung online store will be offered premium “white glove” delivery, the company said. According to sources, Galaxy Z Flip which is available in two colours — Mirror Purple and Mirror Black — will be up for pre-bookings again from February 28 and subsequent deliveries will begin in March.

Samsung
The Rs. 1.10 lakh Samsung Galaxy Z Flip foldable smartphone went out of stock within minutes during its first sale in India on Friday. IANS

The Galaxy Z Flip comes with a first-of-its-kind foldable glass that features a 6.7-inch display that folds into a stylish and compact form factor. It’s a dual-SIM smartphone, with one eSIM and one Nano-SIM card slot. E-sim services are currently available on Airtel and Jio networks.

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In India, the device comes with Snapdrgon 855+ processor and 8/256 GB memory combination. Galaxy Z Flip comes with accidental damage coverage, which includes one-time screen protection and a 24X7 dedicated call centre support in India. (IANS)