Microsoft Ventures to fund Indian tech start-ups
What's the story
Global-tech major Microsoft is looking at investing in Indian tech start-ups through its venture-funding arm "Microsoft Ventures".
"Microsoft Ventures is not here (India) yet. We intend to come to this market...there will be an explicit commitment," its Executive Vice-President (Business Development) Peggy Johnson said.
The company invests at an early-stage in start-ups; it has offices in London, New York, San-Francisco, Seattle, and Tel Aviv.
Start-ups
Microsoft already services about 5,000 Indian start-ups
Peggy Johnson, who reports to Microsoft's India-born Chief Executive Satya Nadella, however, did not quantify the overall commitment that will be made to India, saying an announcement on the same will be made shortly.
The company already services about 5,000 Indian start-ups through its various programs, including seven accelerators, with partners like an arm of Reliance Industries and 24 third-party accelerators, she said.
Offices
Microsoft has 11 offices in India, employing 8,000 people
Reacting to media reports, she said there has been a change in the leadership of the accelerator program but affirmed that the commitment to the start-up community remains unchanged.
The company looks at India both as a hub for its research and development, and engineering activities, and also as a market for its products, and has 11 offices in the country now employing 8,000.
Bank frauds
Technology can prevent bank frauds like Nirav Modi scam
Johnson said the firm feels its three data centers in the country are "sufficient" and expressed satisfaction at its presence in the market, which is witnessing heavy competition.
Amid the growing instances of frauds at banks, like the over Rs. 13,000cr Nirav Modi scam at PNB, Johnson said technology can help prevent such frauds because they have vast amounts of data.
Blockchain
Blockchain can resolve data breach concerns
On the ongoing difficulties faced by the tech sector following the Cambridge Analytica revelations that have put social media giant Facebook in a spot, Johnson said Microsoft has a history of compliance and will adopt any new regulations as well.
She also said technology tools like blockchain can help resolve the current concerns on the data security and privacy front.