Microsoft launches start-up accelerator focused on home automationWritten by Moin Anjum on June 18, 2014 - 05:38AM @MoinWinBeta
At the tech company’s Global Startup Day in San Francisco, Microsoft has announced a partnership with American Family Insurance (AFI), one of the biggest private mutual company that focuses on property, casualty, and auto insurance along-with other services.
Microsoft and AFI are launching a unique business accelerator which will help the next generation of startups who are focused on home automation. The company will help these startups in creating advancements, leading in safer and smarter homes.
“Home automation is ripe for startup innovation,” said Steve Guggenheimer, corporate vice president, Developer Experience and Evangelism for Microsoft. “We are working closely with American Family Insurance to provide a one-of-a-kind experience for entrepreneurs in our accelerator. Startups accepted into the program will gain critical industry insight to build companies with the potential to have an enormous impact on our lives.”
According to the press release, startup participants will be provided knowledge that would be impossible for them to gain access to on their own. American Family Insurance will also offer these young participating companies a minimum (optional) $25,000 equity investment.
“We are focused on helping early stage companies bring new products and services to market that can make our policyholders’ homes and lives safer,” said Dan Reed, managing director at American Family Ventures. “Working closely with startups and making early-stage investments in emerging technology companies is a great way to support the ecosystem and also benefit our customers. We look forward to working with the next generation of companies that are reimagining the connected home.”