Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Microsoft Ventures announced partnership with Citi India, Kyron and Patni Healthcare under its #CoInnovate program. #CoInnovate program connects startups with corporates – who get access to innovative solutions for their business needs while providing greater market access for the startups. Think Next aims to bring opportunities and possibilities together and explore potentialities for economic progress via global collaborations.
Bhaskar Pramanik, Chairman, Microsoft Corporation (India) Pvt. Ltd, said, “Support for innovators and entrepreneurs has always been part of Microsoft’s DNA. We have been in India for 25 years now, and worked with businesses and governments alike. Through the knowledge gained in these 25 years, we have emerged as trusted advisors to organizations of all sizes – be it a startup entrepreneur or a giant conglomerate. We believe that success for innovators will drive our own success and I am glad to note that we are taking another step in this direction today.”
Speaking on the occasion, Ravi Narayan, Director at Microsoft Ventures in India said, “Microsoft Ventures has always aimed to be an enabler for the startup ecosystem. During the last few years in India, we identified that market access remains one of the biggest stumbling blocks for startups, while corporates and governments often struggle to identify the right business partner. #CoInnovate is the bridge that can connect the two and we are happy that we have been able to bring such reputed partners on board today.” Read more