German enterprise software major SAP said that 16 new Indian startups will join its accelerator programme in Bengaluru this year.
SAP StartUp Studio, a one-year mentorship programme, allows selected startups to access its technology and customer base, apart from providing training to help the respective business models work. Last year, it had on-boarded seven early-stage Indian startups soon after launching the incubator programme at its Whitefield, Bengaluru, campus.
The 16 startups are working on technologies, such as artificial intelligence, cloud, machine learning and IoT, across various business functions, the company said, adding that the 75-seater incubator will expand to 100 seats by end-2017.
“India is a significant hub in the global technology startup scene. Supporting entrepreneurism and new talent is crucial for the future of technological innovation. The SAP Startup Studio makes startups ready for success,” said Bernd Leukert, member of the executive board of SAP SE, products and Innovation.
SAP said it had received over 700 applications, out of which 51 startups were chosen for the final round of interviews, from which the final 16 were chosen for the programme.
Sellerworx, an ecommerce technology solutions and services firm, which was one of the seven startups in the first batch, got recently acquired by Capillary Technologies, while Ecolibrium Energy, a energy management solutions provider, will be absorbed in the co-Innovation Labs programme at SAP.
“It has been an exciting and eventful year for the first batch of startups at the SAP Startup Studio. Our startup accelerator programme 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.
Like this report? Sign up for our daily newsletter to get our top reports.