Microsoft Israel R&D center's incubator - the Microsoft Accelerator for Windows Azure - today launched its second session. 13 Israeli start ups will participate in this session having selected from 300 candidates. The session will last four months and the start ups will receive guidance from Microsoft staff as well as senior high tech mentors including financing plans from Yossi Moldawsky and Dubi Lechovitz's PLUS Ventures investment fund, which will offer each company $20,000 for no stake.
Microsoft said that 70% of the start ups that took part in the first session have already raised capital or received official investment offers within three months of graduating from the course. The companies have raised a total of $6.5 million. Microsoft set up the incubator in March.
The start ups participating in the second session include: Telesofia Medical Ltd., which has developed a platform that automatically creates personalized medical videos that increase patient understanding and reduce health care costs; Pixtr, which has developed an application for automatically improving portraits: Shopetti, which has developed social shopping applications for women; Physihome, which has developed technology for physiotherapy treatment combining kintech devices; Kitchenbug, which allows instant analysis of internet recipes and translates them into nutritional values; and LiveTune, which has developed a music teaching app.
Microsoft Israel R&D center general manager Yoram Yaacovi said, "The success of the first session motivated us to present even higher targets for the second session. To achieve this we have improved the model and integrated a range of added value innovations for entrepreneurs that will increase the chances of success."
He added, "Even before the course has opened there is great interest by investors in the companies taking part and that generates optimism both among the start ups and Microsoft staff."
Published by Globes [online], Israel business news - www.globes-online.com - on December 19, 2012
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