SAP Startup Studio expands to a 100-seater facility
MUMBAI, India — April 20, 2017 — A new batch of 16 startups will join the SAP Startup Studio accelerator program. In view of the new additions to the accelerator program the initial 75-seater incubator will expand to 100 seats by end 2017. The 16 startups are working on technologies such as Artificial Intelligence, Cloud, Machine Learning and IoT across various business functions. Now, in its second year, SAP Startup Studio, SAP’s dedicated program to drive entrepreneurship in India focuses on early or growth stage startups that leverage disruptive technology to solve business challenges.
SAP Startup Studio, which operates out of the SAP Labs India campus in Whitefield, Bengaluru, was launched in June 2016, as a dedicated one year mentorship program that provides participants with the foundation needed for their success beyond the program. Startups from last year’s inaugural batch have seen the benefits of the program with Sellerworx, an ecommerce technology solutions and services firm, being acquired by Capillary Technologies, and Ecolibrium Energy, a provider of energy management solutions getting onboarded into the Co-Innovation Labs(COIL) program at SAP.
“India is a significant hub in the global technology startup scene. Supporting entrepreneurism and new talent is crucial for the future of technological innovation, and the SAP Startup Studio makes startups ready for success,” said Bernd Leukert, member of the Executive Board of SAP SE, Products & Innovation.
“It has been an exciting and eventful year for the first batch of startups at the SAP Startup Studio. Our startup accelerator program has seen tremendous success, and we are eager to welcome the second cohort of startups joining us this month,” said Dilipkumar Khandelwal, Managing Director, SAP Labs India and Executive Vice President, Enterprise Cloud Services, SAP SE. “By combining our technological expertise with our passion for startups, we are setting the foundation for the next big innovation to come from this part of the world.”
For the second round, the SAP Startup Studio received over 700 applications; 51 startups were chosen for the final round of interviews, from which the final 16 were chosen for the program.
SAP Startup Social
To provide startups with opportunities to connect, collaborate and grow, SAP Labs India hosted the SAP Startup Social event on April 20, 2017. SAP’s flagship event for the startup ecosystem in India was attended by over 30 venture capital companies and 250 participating startups, and sparked conversations around the vibrant Indian startup eco-system and its future. The event was also a platform for 20 curated startups to pitch their ideas to 20 top venture capitalists. In attendance were key industry leaders, founders of Unicorn startups, startup evangelists, and key stakeholders from the Investor community; Nandan Nilekani, an entrepreneur, bureaucrat and politician who formerly was the Chairman of the Unique Identification Authority of India (UIDAI), was the chief guest at the event.