We are now part of Microsoft for Startups !
We are super thrilled to announce that Welectric is now part of Microsoft for Startups. The overall credits and benefits that we receive from Microsoft (including Azure credits) are worth around $150k but in the long run, this association is worth much more to the digital ecosystem that we are building for electric 2Ws in India. Through this start-ups program, Microsoft is not just looking to seed its potential business from technology leaders of tomorrow but is also actively looking to co-build and co-sell relevant products to its long list of existing partners and customers. This is definitely a win-win for tech start-ups as they get not just access to resources that may be expensive for them at an early stage but also an opportunity to scale up their offering and target customers expeditiously. While Welectric is currently focusing on B2B customers with comprehensive and customized operating lease rental solutions, the eventual goal is to build a digital multi-brand one-stop shop for all electric two-wheeler requirements. A digital platform where both institutional and individual 2W users can buy, finance, lease, get maintenance (at their doorstep), buy accessories, spare parts, etc. Not just that but also seamlessly switch or upgrade from one electric bike to another without worrying about not having a secondary market for these vehicles. This is one of the many areas where this association with Microsoft can have a massive impact. Imagine having seamless access to tens of millions of white-collar employees. To authenticate their credentials as well as offer them the entire gamut of electric 2W products and services at their desktop. All this without even a need to create a separate profile or login ID on our platform. The transition of the fragmented and real estate heavy ecosystem of Petrol 2Ws to a digital and organized ecosystem of Electric 2Ws is one of the biggest opportunities in India this decade. We thought things could not get more exciting. However, the technical possibilities of this association with Microsoft have taken our excitement a few notches higher. The broad commitment from Microsoft for this program is $500mn. I am certain that this would be one of their highest impact initiatives recently both from the competition as well as bottom-line perspectives. Microsoft has become a 2 Trillion $ company, also committed to Carbon negative by 2030 would give a clear picture of both Welectric and MS are moving towards a common goal, a more digital and greener planet.