US-based software company Microsoft has announced a partnership with Singapore’s sovereign wealth fund Temasek to support startups through the Microsoft Accelerator program.
The startups will join the program in one of four hubs, located in Seattle, Berlin, Tel Aviv and Bangalore.
Temasek’s portfolio companies joining the program as partners are real-estate businesses Capitaland and Ascendas, venture lending platform Innoven Capital, cybersecurity company Quann, engineering company ST Engineering and investment firm Fullerton Financial.
Participating startups will gain access to mentors, pilot programs, experts and marketing support from Temasek and the six companies.
The initiative will primarily focus on startups in the sectors of artificial intelligence, internet of things, fintech, cybersecurity, IT, healthcare and digital media.
Mr Ong Beng Teck, managing director of Temasek’s Enterprise Development Group, said in a posting on the firm’s website that the programme is a “win-win partnership”.
Ong Beng Teck, managing director of Enterprise Development Group at Temasek, said: “As an investor, it is imperative that we keep abreast of emerging technology trends. We are pleased to partner Microsoft for their accelerator program as it is widely considered to be one of the strongest globally, attracting the best startups across various fields.
“It offers partnering opportunities between promising startups and our portfolio companies to provide innovative solutions to operating pain points and enhance customer experience. For the startups, this provides them with the opportunity to work with established companies to pilot and validate their products and technologies. This is therefore a win-win partnership.”