Last week, Microsoft announced their partnership with Reliance’s GenNext Ventures to set up innovation hubs across the country. Read the full press release below. Mumbai, September 5, 2014: GenNext Ventures, the venture investment management arm of Reliance Industries Ltd (RIL), today signed a three-year partnership with Microsoft India, through Microsoft Ventures in India, to set up GenNext Innovation Hubs, a pan India initiative to catalyze the country’s technology startup ecosystem. The Memorandum of Understanding (MoU) was signed today by Dr. R. A. Mashelkar, Chairman, GenNext Ventures and Board Member, RIL, and Mr. Bhaskar Pramanik, Chairman, Microsoft India. The first hub will start operations in October in Mumbai, and will be subsequently emulated across multiple cities in India. The MoU allows GenNext Ventures and Microsoft Ventures to bring together key stakeholders—academia, students, entrepreneurs, investors, and corporates–at the GenNext Innovation Hubs and offer some of the most critical resources that startups need to be successful. Microsoft Ventures will help GenNext identify, shortlist, on-board promising startups and power the accelerator program. Microsoft Ventures...

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