Good news for Chinese startups, Microsoft’s Chinese branch has announced that it will be providing $16 million worth in cloud services and other support to 100 lucky startups in the nation. Microsoft and its VC partners will be hand-picking the first 100 startups in an effort to support early-state startups in China and bring more companies onto Microsoft’s cloud platform.
On Wednesday, Microsoft China announced that 100 Chinese tech startups are about to get lucky. The company is promising RMB 100 million (US$16 million) in cloud services and support to 100 Chinese startups. Reportedly, Microsoft is also partnering with Northern Light Venture Capital, DCM, and Gobi Partners to offer financial investments in addition to the cloud services and support. The first batch of 100 startups will be hand-picked by Microsoft and its VC partners. It’s a move that’s aimed at supporting early-stage Chinese startups, but also clearly aimed at bringing more Chinese companies onto Microsoft’s Azure cloud services platform. Previously, Microsoft has also set up an incubator in China that includes free Azure services. Since the platform’s launch in China last March, Azure has reportedly acquired 50,000 domestic clients, including 34 Chinese local government bureaus.