Microsoft Moves into London’s Tech City With Accelerator and 2 Other Dow Movers to Watch
Microsoft Corp. (NASDAQ:MSFT): Current price $32.39
Microsoft is poised to set up in London’s Tech City with an accelerator, its bias mainly towards gaming startups. This announcement comes after research published by the Spanish telcom Telefónica SA, which indicate that the United Kingdom is already the best-served market in Europe for accelerators and incubators.
The report, The Accelerator and Incubator Ecosystem in Europe, said that the U.K. has 50 such programs, which is considerably more than Spain with 38 and France at 35. Using data from last year, the report calculated that the average amount for a startup joining an accelerator program was an investment of 41,000 euro or $54,000, for an equity stake of 8 percent. However, Microsoft General Manager, Developer and Platform Group Anand Krishnan, who is leading the program for the company, said that startups joining the 12-week Microsoft Ventures Accelerator in London will receive no investment and will therefore not be required to relinquish equity.