News360 has received some good news of its own: the startup has been awarded a $1.5 million grant from the Skolkovo Foundation and has also been selected to join the prestigious Microsoft BizSpark One program. According to the article, the company “has been selected to join the Microsoft BizSpark One program, identifying a small number of high-potential startups from among more than 45,000 BizSpark program participants in 100 countries. BizSpark One participants demonstrate a strong potential to succeed, shape the industry’s future and enhance the overall value of Microsoft products and services for end users.”

It continues, “News360 also announced that it has been awarded a $1.5 million grant from the Skolkovo Foundation, a non-profit organization that works with innovators, scientists and international corporations to spur a culture of innovation and technology entrepreneurship in Russia. The Foundation’s IT Cluster, led by Alexander Turkot, selected News360 for its use of semantic data structure analysis to create new ways to search for content across the Web. The grant will be used to accelerate linguistic research and further development of News360′s semantic analysis engine by a Moscow-based R&D team.”

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Image: Courtesy News360