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Microsoft To fund Start-Ups That Will Offer Affordable Internet Access.
The fund is a part of Microsoft\'s Affordable Internet Access Initiative that invests in new cloud-based services and applications, last-mile access technologies and business models that can cut the cost of Internet availability and allow more people to have affordable connections.
Microsoft Corporation has launched a new fund that will invest in companies working to bring affordable Internet access to those parts of the globe that are still not connected.
The fund is a part of Microsoft's Affordable Internet Access Initiative that invests in new cloud-based services and applications, last-mile access technologies and business models that can cut the cost of Internet availability and allow more people to have affordable connections.
Through the initiative, Microsoft has partnered with Internet service providers and other private and public-sector units to provide innovative and practical connectivity, and services solutions created to bring greater impact on the greatest number of people.
Microsoft said in order to be eligible, applicants must be commercial organisations with at least two full-time employees, and have a working prototype and preferably paying customers.
Fund recipients will be given $75,000, free software and services from Microsoft, and will also get the chance to take part in a company programme that will let them connect with other grant recipients and possible investors.
Microsoft said it is expecting the applicants to provide new cloud services and applications, low-cost forms of Internet accessibility, and new payment mechanisms created for consumers and smaller businesses in underserved areas of the world.
