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Ingram Micro is a well-known name in the technology sector, having helped businesses grow since the early 1980s. To this day, the global IT distributor continues to help companies maximise the value of the technology that they create, sell or use, and bring innovations to market faster and more efficiently.
With that history, and its current global infrastructure and focus on cloud, mobility and supply chain solutions, the company aims to catch the next wave of tech innovators and assist them in their go-to-market strategies.
To that end, Ingram Micro has recently launched the Comet Competition in an effort to discover talented independent software vendors (ISVs) with a B2B focus, and help them scale globally and diversify their revenue streams.
Ingram Micro is keen to develop a win-win relationship with software makers to expand its Cloud offerings, with a particular focus on Microsoft services and tools, including its renowned Azure cloud computing service.
And it's not just about helping software companies use that platform to build stronger solutions in the cloud; it's also giving them additional ways to maximise and diversify revenue streams, and access to a global marketplace for additional distribution power (Ingram Micro has a network of 200,000+ reselling partners).
The Comet Competition gives B2B-focused software startups and scale-ups a chance to compete for over $5 million (a mix of go-to market funds and cash) with zero equity taken by Ingram Micro in return. Furthermore, relevant companies will also be able to build a business relationship with the company, its Cloud marketplace and its broader partner ecosystem of value-added resellers, telcos, hosting providers, systems integrators and more.
In other words: no dilution, but lots of help with distribution.
Open to B2B-focused ISVs from around the world, the Compet Competition is currently looking for more software startups and scale-ups from across Europe to enter the challenge, which runs until the 30th of September 2019.
Winners are selected based on criteria, including future vision, potential in the channel and ecosystem readiness by a panel of engineers, executives and industry 'influencers'.
Aside from the aforementioned financial incentives and access to Ingram Micro's expertise and global corporate partner ecosystem, there's another good reason for European B2B ISVs to compete in the global challenge.
All winners of the regional competitions (of which there are 16 in total) will be invited to also compete for an additional $1 million in prize money at Ingram Micro’s Cloud Summit in Miami, Florida, which will be held from 12 to 14 May 2020.
"Successful B2B startups are increasingly looking to an indirect distribution channel to help diversify and accelerate their revenue, and gain fast access to new markets around the world. Participating in the Comet Competition presents a huge opportunity for these innovative companies," said Michael Kenney, head of strategy and business development for Ingram Micro Cloud.
"Our goal at Ingram Micro Cloud is to help identify and bring to market the best technology in the industry. It’s especially exciting to advise global startups at the beginning of their journeys and watch them achieve significant business milestones faster and more broadly than they ever anticipated."
The Compet Competition is supported by Microsoft as part of a recently announced partnership between Ingram Micro Cloud and the Microsoft for Startups group.