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. 

Fitch Ratings has affirmed Reliance Industries' long term foreign currency and domestic currency issuer default rating at 'BBB-' and 'BBB', respectively with stable outlook.
"Fitch Ratings has affirmed India-based Reliance Industries Ltd's Long-Term Foreign-Currency Issuer Default Rating at 'BBB-', and its Long-Term Local-Currency IDR at 'BBB'.
The outlook on the ratings is stable," Fitch Ratings said in a statement.
According to the statement, RIL's ratings are supported by its strong business profile-a large-scale refinery with capacity of around 1.4 million barrels per day, and robust asset quality, which enables it to consistently deliver gross refining margins above regional benchmarks.
The company has a somewhat integrated business, with downstream petrochemical operations as well as upstream, together with strong operating cash flows and ample liquidity, it said. 

Riding on rebound in global market and fresh buying by jewellers at the domestic market, gold regained the Rs 26,000-mark by rising Rs 235 to Rs 26,150 per ten grams, snapping its two-day falling streak at the bullion market today. 

India's economic growth was expected to exceed 7.3 per cent in the current fiscal year and go higher still in the next one, Finance Minister Arun Jaitley said on Monday." 

Finnish telecom gear maker Nokia on Monday said Sandeep Girotra would become the Head of India as part of the planned merger of the company and Alcatel-Lucent.
Girotra is currently Vice President and Head of India, Nokia Networks.
The company said Girotra would oversee the combined company's customer operations across India, driving the execution of strategy and ensuring superior customer service, underpinned by a strong focus on innovation and quality.
Nokia in April had announced the acquisition of French firm Alcatel-Lucent in an all-stock deal valued at 15.6 billion euros ($16.6 billion).
"Sandeep Girotra would become the Head of India as part of the planned combination of Nokia and Alcatel-Lucent, after and subject to the successful closing of the public exchange offer for Alcatel-Lucent securities announced on April 15, 2015," the company said.