Date- April 22, 2011 | Place- Mumbai
Microsoft yesterday declared that it would grant an amount worth one lakh US Dollars to the best domestic startup company in India. This will be under the newly launched Microsoft Bizspark India Start-up Challenge and the four most promising start-ups will share the prize money. The first two joint winners will get $40,000 each and the joint two runners-up will get $10,000 each under this contest.
This unique initiative by Microsoft is expected to set a healthy competition between the aspiring Indian entrepreneurs and create a motivation factor for them to showcase their creativity and risk taking ability. As confirmed by the Chief operating officer of Microsoft, Kevin Turner, this initiative is to further the commitment of Microsoft to India ‘by fostering innovation and entrepreneurial ecosystem’.
On the other hand, this news comes as a sad acceptation of the fact that what the Government needed to do is being done by a company like Microsoft. The Indian Government who seems ever keen in formulating new tax rules to impose on all sectors has done very little for the development of entrepreneurship in the country.
The step by Microsoft may be a strategic one for the Company’s own future plans, but at least it is set to provide some morale booster for the entrepreneurs; unlike the Government of India, who has nothing for motivating and encouraging young entrepreneurship.