Sixth Demo Day Staged in Beijing
In honor of the third anniversary of Microsoft Ventures Accelerator (MVA) Beijing, 15 member teams on the Sixth Class paraded their resulting innovative products on the Demo Day. A list of 20 entrepreneurial teams hand-picked from more than 1,000 applicants for the Seventh Class was also released on the same day. Selected MVA alumni, hundreds of investors, and more than 100 media and industrial professionals attended the ceremony.
“In three years, the MVA Beijing staff has extended their services to 106 dedicated and innovative entrepreneurial teams by working side by side with them. ‘MVAer’ is a nickname we came up with for members on these teams, which sounds exactly the same as ‘family members’ in Chinese, as we have been trusting and helping each other as members of the same family do through our mutual endeavors. Today is a day when ‘MVAers’ display the fruits of their innovation efforts, and also a day when MVA itself delivers a report card for the past three years of venture services. With this report card, we would like to thank each and every one who has helped MVA and MVAers,” said Vanessa Gao, CEO in residence of Microsoft Ventures Accelerator China.
Apart from turning out mature products, most startup teams participating in the Sixth Incubation recorded extraordinarily rapid development in their business. Ehang, China’s first manufacturer of smart drones that can be manipulated via mobile APPs, set a new record of $860,000 for overseas crowd-funding among all technology products in China. Its users are now scattered in more than 70 countries and territories. Mofangge, the No.1 online exams question bank and interactive community for pre-college education, accounts for 59.5 percent of all active users of question banks of its kind in the country, with average online exercise time exceeding 40 minutes per user, per day. D-team Technology, China’s first dual-branded router vendor, single-handedly developed the industry’s only intelligent routing OS with private clouds at its core. Its new routers, powered by Newifi, ranked among the top three for Internet-wide sales. Sobot Technologies, the world’s first provider of AI-driven customer services, is now the online customer service agent for 3,000+ businesses, raising service efficiency of its clients by 300 percent while slashing service cost by 60 percent. APICloud, a leading “cloud-client” mobile application cloud service provider in China, now boasts more than 20 million of platform users.
List of Finalists for the Seventh Class Annouced at MVA Sixth Demo Day
Along with the growth of startups, the transformation in MVA itself was also conspicuous. Since its inauguration in July 2012 in China, MVA has been dubbed a “China’s Best Incubator” for two consecutive years, winning over 3,800 counts of media coverage for participating companies. MVA offers more than 300 hours of entrepreneurial training to each individual participant, and at least 3 million RMB worth of Microsoft cloud computing resources to each team participant. Besides, it has pooled up a talent reserve of more than 1,400 people and organized at least 100 matching events with high-quality and large-size potential clients, and it has lent free support to hundreds of entrepreneurial community campaigns.
To date, MVA Beijing has partnered with 100 institutional investors, capable of finding the most suitable one to finance a particular startup. MVA is now in strategic cooperation with leading companies in various industries as an effort to lure longtime clients for the incubated startups. The 106 graduated companies are now providing their products or services to 500 million private users and more than 1 million business users. Their combined valuation reached 23.4 billion RMB, 400 percent more than their valuation before joining the MVA program.
MVA Beijing is committed to providing “the most professional venture service” all around and fully customized to each participating team’s needs, that is, hunting for the right money, talents, markets and clients. The lifetime alumni system allows entrepreneurial teams, after their six-month acceleration period, to access sustained support from the program.
List of Finalists for the Seventh Class at MVA Beijing
About Microsoft Ventures Accelerator in Beijing
The Microsoft Venture Accelerator Beijing program is committed to providing “the most professional venture service” all around and fully customized to the need of each participating teams, that is, hunting for the right money, talents, markets and clients. In addition, we provide selected entrepreneurial teams with office space within the Microsoft Asia-Pacific R&D Group Building for a period of six months, along with support and guidance from a mentors group comprising leading thinkers, industrial experts and technical experts. Each selected team will get at least $500,000 worth of cloud services and other resources. The MVA program offers two classes every year, including a six-month acceleration period and lifelong alumni service. Once selected, an entrepreneurial team may have access to all promised resources free of charge. Since its inauguration in July 2012 in China, MVA Beijing has been dubbed “China’s Best Incubator” for two consecutive years.