SAP Startup Focus to invest $7.3M
The SAP Startup Focus Acceleration Program is the self-explanatory title of an initiative undertaken by Singapore’s Infocomm Development Authority, enterprise software firm SAP Asia, and investment firm August Capital Partners.
The program has duration of two years and is open to all technology-based startups that are looking into smart city solutions based on data and analytics.
Those who are chosen for the program will collectively have access to an overall investment of S$10 million from ACP and IDA and mentorship from SAP executives, entrepreneurs, investors, and other prominent business figures.
While funding and even mentorship are things a startup can also get from a VC, the SAP program offers a few more interesting incentives.
“Under the program, SAP will work with IDA and ACP Ventures to provide startups with the technology, support, resources and community needed to develop new applications on SAP HANA and accelerate market traction,” SAP tells Tech in Asia via email.
In order to be chosen for the program, startups will be required to make their case at the SAP Startup Forum.
Along the way, it will be providing support in the form of reviews, technology, and consultation.
“Startups are encouraged to validate their HANA efforts with real customers and use that feedback to roadmap productive applications,” the company tells us.
“Once past the stage, the best solutions are promoted in several different ways, including potential opportunities to showcase the solutions with SAP at conferences and events, and various other co-branded marketing activities.”
The program funds will be distributed to participating startups on a “Company by company basis” according to ACP, with each startup being considered as an individual investment.
The Startup Focus Program has already had significant success, with over 1,250 startups from 55 countries participating in the program and covering various industries, supported by technology partners including Cisco, Intel, NetApp and VMWare.
(Credits to Michael Tegos)
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