SAP Start-up Studio to Host 7 Startups

Yet, another good news for aspiring entrepreneurs! Global applications software developer SAP just launched its startup accelerator program in Bengaluru. Known as SAP Start-up Studio, it aims at providing young startups with mentoring, technology and infrastructure that are necessary in growing phase.

SAP has now become the third multinational company after Microsoft and Oracle to set up its incubation center in the city.

The Plan

SAP SE Executive Board Member, Bernd Leukert, thinks that India is right now a very good startup market and this opportunity needs to be used to further the business prospects. The plan which was to start the accelerator program with 75 seats reserved for the top 10 startup pitches seems to be bearing fruit. Till now, the seven startups that have been chosen are:

• CloudKare: A cloud-based healthcare platform.
• Bluebirch: A reverse logistics solutions providing platform to maximize returns from unsold, returned or unused tech assets.
• ai: An AI-based voice-enabled search platform.
• Sellerworkx: A platform helping e-commerce retailers to sell efficiently online.
• Moglix: An online place to buy industrial tools and other home utility appliances.
• Ecolibrium: A platform that helps in economic and sustained use of power resources like water, air, gas, etc.
• Stratawiz Technologies: A platform to help companies boost their productivity.

SAP Start-up Studio will monitor their performance during a course of a year and then might explore options like becoming equity stakeholders, get into strategic partnership, or just get into a financial arrangement with the startup. It’s a win-win situation for both the parties. The startups will also gain industry exposure, thanks to SAP’s global reach.

Takeaways:-

• SAP Start-up Studio selects its first seven incumbent startups for accelerator program in Bengaluru.
• The incubator has 75 seats and can select up to 10 startups.
• SAP might also explore options like becoming equity stakeholders, get into strategic partnership, or just get into a financial arrangement with the startup.