Exclusive: Microsoft BizSpark to give out $100,000 as grants to startups

Microsoft BizSpark has launched the India Startup Challenge, designed to serve as a platform for startups to demonstrate their innovations and receive feedback and mentoring from top investors and Microsoft. In addition to the intangible benefits, Microsoft is also offering$100,000 in pure grants (without any equity exchange) for the winner.Microsoft BizSpark seems to be looking for tech startups doing great software product development work and individuals who are harnessing the power of the cloud and mobile to create fantastic apps. The participants will need to have a business plan which is innovative with potential to scale and a team that can articulate and execute the vision superbly. the technology major will be giving away $100,000 in total as grants to help the winning startups grow the business and develop more apps and services.

India Startup Challenge will be thrown open to all Indian citizens who are more than 18 years old. The winners will be determined based on the merits of innovation, market potential and whether they have a compelling story to tell. Entries will have to fall under one of the two categories - cloud or mobile. The winner of the first place in each of these categories will win a grant of $40,000 and those who place second in these categories will be given $10,000 each.

We at YourStory are terribly excited about this development. After all, an equity-free infusion of funds simply based on the merit of the business idea is an ideal scenario. So, do you think you have an idea that can change the world of cloud and mobile technology? What are you waiting for? Go ahead, what is needed is just a compelling story.

Find out more and apply to the India Startup Challenge by clicking here.