SAP Startup Focus Acceleration Programme launched in Singapore
By Digital News Asia April 1, 2015
- 2-year programme to aid startups with smart city-centric solutions
- Access to US$ 7.29 million in funding and mentorship
THE Infocomm Development Authority of Singapore (IDA), technology solutions provider SAP Asia and investment firm August Capital Partners (ACP) have launched the SAP Startup Focus Acceleration Programme in Singapore.
The two-year program is open to technology-based startups with a vision for making an impact on smart cities through big data, predictive analytics or real-time data solutions.
Participants will gain access to more than S$10 million (US$ 7.29 million) in funding along with mentorship from SAP executives, entrepreneurs, investors and key business leaders from the local IT ecosystem.
“We are pleased to partner with SAP to further develop our startup landscape and foster innovation through technology.
“We strongly believe in the future of data analytics and that the intelligent use of data can benefit both citizens and companies, and help build Singapore towards a Smart Nation,” said Khoong Hock Yun, assistant chief executive, Development Group, IDA.
The programme is the next step in the partnership between SAP and IDA, following the signing of a Memorandum of Intent (MOI) in October last year.
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.
The company will also grant access to hardware and software for development of proof-of-concepts and pilot projects.
President and managing director of SAP South East Asia, Francois Lancon, noted that startups play “a critical role” in spurring innovation, adding that Singapore provides a very conducive and vibrant environment for entrepreneurs, especially with many opportunities around Singapore’s Smart Nation push.
“Together with IDA and ACP, we aim to create an open and collaborative startup acceleration program to encourage local startups to innovate and develop cutting-edge solutions that unleash the potential of our SAP HANA platform,” he added.
Globally, the SAP Startup Focus programme has achieved broad adoption with over 1,250 startups in the program from 55 countries, covering various industries and lines of business.
Singapore-based startups, ZelRealm Interactive and YFind Technologies, have already benefitted from this program through the SAP Co-Innovation Lab Singapore, which was supported by technology partners including Cisco, Intel, NetApp and VMWare.
Sameer Narula, managing director at ACP said the venture firm supports high quality founding teams that have the vision, ability and commitment to disrupt and transform entire industries.
“We are constantly building relationships with high quality corporate and government partners around the world to support our companies in their growth. Through this partnership with SAP, and with IDA’s support, we hope to help strengthen the high tech start-up ecosystem in Singapore and the region,” he added.
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