Rediff.com » Business
Microsoft launches fund for affordable Internet access
November 16, 2015
Technology giant Microsoft has launched a new fund to invest
in companies working on solutions to bring affordable Internet access to
underserved markets.
The fund is part of Microsoft's Affordable Access Initiative,
which invests in last-mile access technologies, cloud-based services and
applications and business models that can reduce the cost of Internet access and
help more people affordably get online.
In addition to receiving on average about $75,000 (about Rs
49.5 lakhs) in funding and free software and services, recipients will also
have the opportunity to connect with other grant recipients and potential
funders, Microsoft said.
"Today there are approximately four billion people globally
without Internet access.
The ability to close that gap is more achievable than
ever with technology that is readily available and affordable in many parts of the
world," Microsoft Executive Vice President (Business Development) Peggy
Johnson said.
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