Microsoft Accelerator Shanghai (MASH), which was launched in January 2017, hosted its first batch’s graduation and demo day on Thursday. The event showcased a total of 14 startups that participated in the program.
According to the program,10 out of the 14 startups have received new rounds of funding for a total of 6.6 billion RMB, and one startup has gone public. All startups have adopted Microsoft Azure for public cloud services. During the incubation period, MASH delivered more than 200 hours of training and made more than 500 customer and VC connections for the startups. Alain Crozier, Microsoft Corporate Vice President and Chairman and CEO of Greater China Region, stated:
“The digital transformation of China’s economy presents a huge opportunity for both big companies and startups across all industries. Microsoft Azure has supported the digital transformation of China since landing in China three years ago. With Microsoft Accelerator China, the company has nourished a thriving local ecosystem of startups to further transform China’s digital landscape. MASH will further empower innovators on this journey.”
MASH was notably launched with full, direct support from the Shanghai Xuhui District government, who has set itself a strategy of “Innovation Drives Development” in an effort to build more hubs of innovation, particularly in the Caohejing Hi-Tech Park. MASH was also made possible through a cooperation with INESA. Chen Shiyan, Vice Mayor of Xuhui District Government, added:
“In order to support a strategy of turning Shanghai into an international center for technology innovation, Xuhui is developing its technology service sector accordingly, especially with help from global incubators and accelerators within our District. Microsoft Accelerator Shanghai has been made possible through a joint effort by the Xuhui government, Microsoft and INESA, integrating vast resources to support better growth for startups in Shanghai.”