Microsoft Ventures has signed a three-year partnership with the Indian School of Design and Innovation (ISDI) to set up a 'ISDI Creative Accelerator'. This would be a pan-India initiative to facilitate technology a start-up ecosystem with design and innovation expertise, according to a statement issued today.
The MoU was signed by ISDI Founder and Executive Director Radha Kapoor, ISDI Academic Council Chairperson Indu Shahani as well as Microsoft India Chairman Bhaskar Pramanik, it said.
The first such accelerator will begin operations in August in Mumbai, with about a dozen start-ups initially, and be emulated across multiple cities in India later, the statement said.
"This partnership between Microsoft India and ISDI will bring together the best of technology and industry expertise to contribute to the growth and success of design entrepreneurship in the country," Microsoft India Chairman Bhaskar Pramanik said in the statement.
The MoU allows ISDI and Microsoft Ventures to bring together key stakeholders like academia, students, entrepreneurs, investors and corporates at the ISDI Creative Accelerator, the statement said.
Microsoft Ventures will help ISDI identify and shortlist promising start-ups as well as power the accelerator programme, besides also providing them access to software and technology advice, the statement said.
At the end of the accelerator programme cycle, ISDI will invest strategically and selectively in some of these infotech start-ups, the statement said.